Consider the following statements: Statement-I: Recently, the United States of America (USA) and the European Union (EU) have launched the ‘Trade and Technology Council’. Statement-II: The USA and the EU claim that through this they are trying to bring technological progress and physical productivity under their control. Which one of the following is correct in respect of the above statements?
Explanation
The Assertion is Correct: The 'Trade and Technology Council' (TTC) was launched by the United States and the European Union during the EU-US Summit in Brussels on June 15, 2021. The Reason is Incorrect: The USA and EU do not aim to bring technological progress and physical productivity under their control; instead, the TTC aims to foster cooperation on digital transformation, supply chain resilience, and shared democratic values. Since the Reason is incorrect, it does not serve as an explanation for the Assertion.