By Nandita Bose

WASHINGTON (Reuters) – The United States and European Union plan to take a more unified approach to limit the growing market power of Big Tech companies, according to a draft memo seen by Reuters.

The move will be among announcements on tech, climate, trade and supply chains likely to be made at a U.S.-EU Trade & Technology Council meeting on Sept. 29 in Pittsburgh.

This cooperation between the U.S. & Europe is critical for regulators from both sides of the Atlantic. It would allow the U.S. to make new regulations more difficult, and it will help to control the increasing power of American tech companies like Alphabet(NASDAQ:),’s Google, Facebook (NASDAQ;), Apple (NASDAQ :), and Amazon.com Inc.

The White House has announced that this month’s first meeting of the council will be held in Pittsburgh on September 29th. Along with Margrethe Vestager, European Commissioner for Competition Margrethe vestager, U.S. Secretary-of State Antony Blinken and Commerce Secretary Gina Raimondo are expected to be there.

While the White House is cooperating with other agencies for the meeting, it declined to comment. Apple, Facebook and Amazon did not respond immediately to inquiries for comment.

A draft memo states that the council comprises 10 working groups to address areas such as trade, economic relations, and shared democratic principles.

According to the memo, the group that focuses on technology company regulation “will exchange information about our respective approaches and seek convergence wherever possible.”

Both continents have many opportunities to cooperate. Google is currently facing antitrust suits in the U.S. for its advertising business. A wide-ranging probe into ad technology within the EU also involves Google.

The memo states that “We identified common concerns around gatekeeper power of major platforms and responsibility of online intermediaries” adding that there are more ways to fight misinformation.

Online intermediaries are responsible for protecting democratic processes from negative effects of business activity. The memo stated that there is common ground in areas such as content moderation, fair competition and other issues.

According to the memo, they will focus on hate speech and algorithmic amplification, as well as data access for researchers.

According to the memo, climate and clean technology group of council will identify investment and trade opportunities in low and zero-carbon products and technologies. According to the memo, the supply chain group will be focusing on secure supplies of essential minerals, pharmaceuticals and clean energy.

This council will address the issue of semiconductor chip shortages in a balanced and equal way for all parties. It will not engage in “subsidy racing.”

Reuters reports that the European Union’s ambassadors delayed discussions in preparation for Wednesday’s meeting to protest Washington’s sub-adventure agreement with Australia. https://reut.rs/2W2FTbw

A spokesperson for the White House’s National Security Council said preparations for the meeting were continuing.

A number of tech trade associations in Washington have stated they do not support the adoption in America of the European digital regulation approach.”The risk is that the European side will press the United States to harmonize its regulations with the EU by taking a precautionary approach… which would skewer America’s leading tech companies,” said Robert Atkinson, president of the Information Technology & Innovation Foundation, a tech think tank based in Washington.

We shouldn’t and don’t need to do this. Atkinson stated that our interests were broadly compatible and aligned, especially when it concerns China.