The risk assessments are part of the EU's Economic Security Strategy and are not targeted at any specific country. However, due to its size and central position in many supply chains, China is expected to be a primary focus. The EU's goal is to "de-risk" its trade relationships rather than "de-couple" them. Despite this, the EU's de-risking efforts face challenges due to differing interests and geopolitical concerns among member states, particularly regarding their varying exposures to China.
Key takeaways:
- The European Commission announced it will start collective risk assessments with member states on four technology areas: advanced semiconductors, artificial intelligence, quantum technologies, and biotechnologies. This could lead to restrictive measures or development support for these technologies by spring 2024.
- The collective risk assessments are part of the EU's Economic Security Strategy and aim to reduce risks in technology security and technology leakage. The assessments will be carried out in collaboration between the Commission and the member states and should be finished by the end of the year.
- The EU Commission also listed six additional technologies it wants to discuss with member states: advanced connectivity, navigation and digital technologies, advanced sensing technologies, space and propulsion technologies, energy technologies, robotics and autonomous systems, and advanced materials, manufacturing and recycling technologies.
- The move is a step towards the EU's goal of "de-risking" its trade relationships. However, the EU is still at the start of implementing a true economic security strategy, as interests and geopolitical concerns still diverge among member states.