During the era of the Cold War, the United States and Europe cooperated militarily, but competed economically. At the time, the Soviet Union posed a military, not an economic, threat to the West. Today, in what could become a second Cold War, this time with China, the U.S. and Europe need to put great emphasis on cooperating economically. The reason for this is straightforward: From the vantage point of each of the transatlantic partners, China poses a threat to our economic competitiveness.
As Rob Atkinson writes in The Globalist, it is incumbent upon the U.S. and the EU to build upon the initial steps of the new US-EU Trade and Technology Council (TTC). The goal must be, first, to reduce economic tensions between the two regions and second, to foster formal cooperation. This is especially true with regard to supporting advanced and emerging technology development and production.
