Question map
Not attempted Correct Incorrect ★ Bookmarked
Loading…
Q87 (IAS/2023) International Relations & Global Affairs › International Organisations & Groupings › International trade regimes Official Key

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?

Result
Your answer: —  ·  Correct: C
Explanation

The correct answer is Option 3 because Statement-I is factually accurate, while Statement-II misrepresents the objectives of the initiative.

Statement-I is correct: The USA and the European Union officially launched the Trade and Technology Council (TTC) during the EU-US Summit in June 2021. It serves as a high-level strategic forum to coordinate approaches to key global trade, economic, and technology issues based on shared democratic values.

Statement-II is incorrect: The stated goal of the TTC is not to bring productivity "under their control" in a restrictive sense. Instead, it aims to foster transatlantic cooperation, strengthen supply chains, promote responsible innovation, and set global standards for emerging technologies. The focus is on democratic sovereignty and competitiveness against non-market economies, rather than monopolistic control over physical productivity. Therefore, Statement-II is a false characterization of the council's diplomatic and economic mandate.

How others answered
Each bar shows the % of students who chose that option. Green bar = correct answer, blue outline = your choice.
Community Performance
Out of everyone who attempted this question.
73%
got it right
PROVENANCE & STUDY PATTERN
Guest preview
Don’t just practise – reverse-engineer the question. This panel shows where this PYQ came from (books / web), how the examiner broke it into hidden statements, and which nearby micro-concepts you were supposed to learn from it. Treat it like an autopsy of the question: what might have triggered it, which exact lines in the book matter, and what linked ideas you should carry forward to future questions.
Q. Consider the following statements : Statement-I : Recently, the United States of America (USA) and the European Union (EU) have launched…
At a glance
Origin: Mostly Current Affairs Fairness: Low / Borderline fairness Books / CA: 0/10 · 10/10
You're seeing a guest preview. The Verdict and first statement analysis are open. Login with Google to unlock all tabs.

This is a classic 'Headline vs. Fine Print' trap. While the launch (Statement I) was widely covered in newspapers, Statement II uses extreme, non-market language ('control physical productivity') to test your common sense about Western economic philosophy. It's a logic test disguised as a fact question.

How this question is built

This question can be broken into the following sub-statements. Tap a statement sentence to jump into its detailed analysis.

Statement 1
When was the United States–European Union Trade and Technology Council (TTC) launched and which parties established it?
Origin: Web / Current Affairs Fairness: CA heavy Web-answerable

Web source
Presence: 4/5
"the Trade and Technology Council (TTC) effort launched last June 2021,"
Why this source?
  • Explicitly states the TTC launch timing.
  • Provides the month and year the TTC was launched (June 2021).
Web source
Presence: 5/5
"The United States–European Union Trade and Technology Council (TTC) was the principal coordination mechanism through which the United States engaged the EU on trade policy during 2022. Across ten TTC working groups, the United States and the EU are pursuing policy outcomes on trade and technology"
Why this source?
  • Identifies the full name of the TTC linking the United States and the European Union.
  • Describes the TTC as the coordination mechanism through which the United States engaged the EU, showing the two parties that established it.

History , class XII (Tamilnadu state board 2024 ed.) > Chapter 15: The World after World War II > European Union Flag - Euro Currency > p. 258
Strength: 4/5
“In December 1991, the members of EC came together and signed the Treaty of Maastricht by which the European Union was established in 1993 with a single market. With the establishment of European Union, the members worked on other areas such as foreign policy and internal security. This treaty paved the way for the creation of a single European currency – the euro. In 2017, Britain voted to exit the EU (British Exit known as "Brexit").”
Why relevant

Explains the establishment and institutional identity of the European Union (dates of formation), which identifies one party in any EU–level institution or partnership.

How to extend

A student could combine the EU's existence (1992–93) with current affairs sources to seek when an EU-wide council with the US might have been launched and by whom.

Contemporary World Politics, Textbook in political science for Class XII (NCERT 2025 ed.) > Chapter 2: Contemporary Centres of Power > European Union > p. 16
Strength: 4/5
“The Council of Europe, established in 1949, was another step forward in political cooperation. The process of economic integration of European capitalist countries proceeded step by step (see Timeline of European Integration) leading to the formation of the European Economic Community in 1957. This process acquired a political dimension with the creation of the European Parliament. The collapse of the Soviet bloc put Europe on a fast track and resulted in the establishment of the European Union in 1992. The foundation was thus laid for a common foreign and security policy, cooperation on justice and home affairs, and the creation of a single currency.”
Why relevant

Gives the timeline and political evolution that created the EU as a coherent actor in foreign/economic policy—useful to know the EU can enter formal councils with external partners.

How to extend

Use this background to narrow searches to EU-level announcements (rather than individual member states) when verifying who set up the TTC and when.

History , class XII (Tamilnadu state board 2024 ed.) > Chapter 15: The World after World War II > EEC in Session > p. 257
Strength: 3/5
“The EEC facilitated the elimination of barriers to the movement of goods, services, capital, and labour. It also prohibited public policies or private agreements that restricted market competition. A Common Agricultural Policy (CAP) and a common external trade policy were evolved. In 1960, Britain organized a rival organization known as the European Free Trade Association (EFTA), with Britain, Denmark, Norway, Sweden, Switzerland, Austria, and Portugal as members. In 1961 Britain decided to join EEC but the French President Charles de Gaulle opposed the entry because the economy of Britain was weak. After his resignation, British Prime Minister Edward Heath, with his skilful diplomacy, made way for Britain's entry.”
Why relevant

Describes the EEC/EU role in eliminating trade barriers and developing common external trade policy—illustrates the EU's capacity to form trade/technology partnerships.

How to extend

A student could infer such institutional trade roles make the EU the natural counterpart to the United States in a transatlantic Trade and Technology Council, then check news/official releases for launch details.

Indian Economy, Nitin Singhania .(ed 2nd 2021-22) > Chapter 18: International Economic Institutions > Important Facts about WTO > p. 535
Strength: 3/5
“• WTO was established on 1 January 1995 by replacing GATT. • It is an ITO dealing with a variety of issues and with the objective to promote free and fair international trade. Its scope is much broader than GATT.”
Why relevant

Summarizes the creation of an international trade organisation (WTO) and the norm of formal institutions to manage trade—shows precedent for establishing dedicated trade councils.

How to extend

Use the pattern that major trade issues are handled by formal bodies to justify searching for an official launch event and the parties (i.e., national/regional governments) that created the TTC.

History , class XII (Tamilnadu state board 2024 ed.) > Chapter 12: Europe in Turmoil > Introduction > p. 178
Strength: 2/5
“Soon began to feel that without organisation and unity, no permanent improvement was possible. So they strove to establish trade unions. When trade unions arose, the government first declared these unions illegal. Many of the frontline leaders, as we have seen in the previous lesson, were imprisoned or banished. In 1824, however, labour unions were legalised. Concert of Europe: Founded by major European Powers, Austria, Prussia, Russia and Britain, in the post-Napoleonic era, it worked for the preservation of European Metternich order and balance of power. Under the pretext of political status quo, the great powers under the aegis of Concert of Europe intervened and imposed their collective will on states threatened by internal rebellion during the socalled Metternich Era (1815–1848).”
Why relevant

Gives an historical example (Concert of Europe) where major powers collectively founded a coordinating body—a pattern of great-power councils for cooperation.

How to extend

Apply this pattern to modern great-power relations to hypothesize that leading powers (the United States and the EU as a bloc) could jointly establish a council, then verify the specific participants and date from contemporary sources.

Statement analysis

This statement analysis shows book citations, web sources and indirect clues. The first statement (S1) is open for preview.

Login with Google to unlock all statements.

How to study

This tab shows concrete study steps: what to underline in books, how to map current affairs, and how to prepare for similar questions.

Login with Google to unlock study guidance.

Micro-concepts

Discover the small, exam-centric ideas hidden in this question and where they appear in your books and notes.

Login with Google to unlock micro-concepts.

The Vault

Access hidden traps, elimination shortcuts, and Mains connections that give you an edge on every question.

Login with Google to unlock The Vault.

✓ Thank you! We'll review this.

SIMILAR QUESTIONS

IAS · 2024 · Q96 Relevance score: 4.43

Consider the following statements : Statement-I : The European Parliament approved The Net-Zero Industry Act recently. Statement-II : The European Union intends to achieve carbon neutrality by 2040 and therefore aims to develop all of its own clean technology by that time. Which one of the following is correct in respect of the above statements ?

IAS · 2024 · Q51 Relevance score: 2.74

Consider the following statements : Statement-I : If the United States of America (USA) were to default on its debt, holders of US Treasury Bonds will not be able to exercise their claims to receive payment. Statement-II : The USA Government debt is not backed by any hard assets, but only by the faith of the Government. Which one of the following is correct in respect of the above statements ?

IAS · 2024 · Q97 Relevance score: 1.85

Consider the following statements : Statement-I : Recently, Venezuela has achieved a rapid recovery from its economic crisis and succeeded in preventing its people from fleeing/emigrating to other countries. Statement-II : Venezuela has the world's largest oil reserves. Which one of the following is correct in respect of the above statements ?

IAS · 2021 · Q57 Relevance score: 1.59

Consider the following statements : Statement 1 : The United Nations Capital Development Fund (UNCDF) and the Arbor Day Foundation have recently recognized Hyderabad as 2020 Tree City of the World. Statement 2 : Hyderabad was selected for the recognition for a year following its commitment to grow and maintain the urban forests. Which one of the following is correct in respect of the above statements?