The move will be unveiled at the second meeting of the
U.S.-EU Trade and Technology Council (TTC), taking place on Sunday and Monday
in Paris.
The TTC pledged at an inauguration conference last year in
Pittsburgh to deepen transatlantic cooperation to strengthen chip supply
chains, curb China's non-market trade practices, and take a more unified
approach to regulating big, global technology firms.
"You'll see us announce... a transatlantic approach to
semiconductor investments aimed at ensuring security of supply," a senior
administration official told reporters in a call Friday previewing the meeting.
Both Washington and Brussels want to encourage chip
investment, and to "do so in a coordinated fashion and don't simply
encourage a subsidy race," the official added.
A persistent industry-wide shortage of chips has disrupted
production in the automotive and electronics industries, forcing some firms to
scale back production. But U.S. legislation that would grant chipmakers $52
billion in funding to expand output has been stuck in Congress.
The official said an early warning system to pinpoint and
address semiconductor supply chain disruptions would also be announced as part
of the meeting, which will be headlined by Secretary of State Antony Blinken,
Commerce Department Secretary Gina Raimondo, and U.S. Trade Representative
Katherine Tai.
EU trade chief Valdis Dombrovskis and EU antitrust chief
Margrethe Vestager will also participate, the official said.
The Council will also announce a new cooperation scheme
which the official said was intended to combat disinformation online, such as
false Russian claims related to its invasion of Ukraine. Moscow calls its
actions in Ukraine a "special military operation." -Reuters