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Illustration: Sarah Grillo/Axios

The European Union has been trying to regulate Big Tech from the other side of the Atlantic, but now its countries are teaming up with the U.S. to figure out an even bigger framework of regulation.

Why it matters: Tech's nightmare is inconsistent regulation across the globe. When the E.U. and U.S. come together on broad-based principles, tech applauds (slowly). The more the E.U. and U.S. are in alignment, the better it is for tech.

State of play: President Joe Biden’s meetings during the G7 and EU summit reinforced the U.S. desire to counter Beijing’s Belt and Road Initiative, an infrastructure plan involving more than 60 countries.

  • Part of Biden's strategy includes a new Trade and Technology Council between the U.S. and E.U. to focus on supply chains, international standards and trade, as well as a Joint Technology Competition Policy Dialogue to focus on competition policy and enforcement.

Yes, but: There are many challenges on this road to alignment.

What they're saying: "In an interconnected world the policies of one nation affect all," Tom Wheeler of the Brookings Institute tells Axios.

  • When asked if the new groups emerging from the E.U. summit appear to be digital forms of the World Trade Organization, Wheeler agreed they are.
  • "What we need is a grand digital alliance, but that doesn’t happen overnight. TTC is the first step," he says.

What to watch: Both the U.S. and E.U. agree that setting global standards for technology is an important factor in keeping a competitive edge against China.

Go deeper

What "success" means at the UN Climate Summit in Glasgow

Illustration: Rae Cook/Axios

The upcoming UN climate meeting in Glasgow, scheduled to begin in six weeks, may be one of the trickiest for diplomats to navigate since such meetings began more than two decades ago.

Why it matters: The summit comes as scientists warn that the window for keeping alive the Paris Agreement's most ambitious and longshot temperature target is nearly shut, yet emissions cuts are urgently needed to prevent potentially catastrophic climate impacts.

Tom Steyer: Private companies starting to invest more in climate solutions

Photo: Axios

The world will have to spend four trillion dollars a year to solve the climate crisis, Tom Steyer, the billionaire founder of Farallon Capital, said at an Axios virtual event on Thursday, but private businesses will play a crucial role.

Why it matters: Steyer's comments come two weeks after the billionaire launched Galvanize, a climate tech investment platform that will back companies from the seed-stage through private equity and project finance.

Report: LGBTQ+ Afghans' lives "dramatically worsened" under Taliban rule

Taliban fighters in Kabul, Afghanistan, earlier this month. Photo: Mohd Rasfan/AFP via Getty Images

LGBTQ+ Afghans have been threatened, attacked and "faced an increasingly desperate situation and grave threats to their safety" since the Taliban seized control of Afghanistan last August, per a report published Wednesday.

What they're saying: "We spoke with LGBT Afghans who have survived gang rape, mob attacks, or have been hunted by their own family members who joined the Taliban, and they have no hope that state institutions will protect them," per a statement from study co-author J. Lester Feder.

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