The EU and the US have agreed to work more closely to counter disruptions in the supply of industrial goods and food caused by the Ukraine crisis, as well as to combat disinformation from Moscow.
Senior EU and US officials gathered in Paris for the second Trade and Technology Council, which was originally seen as a transatlantic counterweight to China, but now with a clear focus on Russia as well.
In a joint statement, the two allies said they would continue to coordinate their actions to mitigate the negative effects of the war in Ukraine.
The European Union and the United States will work to encourage more diversified trade in agricultural commodities and inputs, as well as reduce over-reliance on certain trading partners, to increase the sustainability of global food production.
The parties also agreed to cooperate to reduce dependence on unreliable sources of strategic supplies and jointly mitigate the negative impact of sudden disruptions in the supply of critical materials from Russia.
They will cooperate to diversify the supply chains of rare earth magnets and solar energy production, and will strive to overcome the shortage of semiconductors with greater transparency and an early warning system, and agree to avoid a subsidy race in the chip sector.