(Washington, D.C.) - Representative Charlie Dent (PA-15), along with Representative Bill Flores (TX-17), introduced H.Res. 817, a resolution in the House calling on the Administration to immediately begin the process of initiating discussions for a bilateral trade agreement with the United Kingdom.
“The Brexit referendum, for better or for worse, is behind us. Now, in the wake of Brexit, we must do whatever we can to preserve and enhance the special economic relationship shared by the U.S. and the U.K. The best way we can do this is to immediately begin negotiations for a bilateral trade agreement. The resolution I am introducing today would send a clear message to the world that the unwavering support of the American people for the U.K. remains unchanged,” said Rep. Dent.
The resolution would expressly reaffirm the strength and endurance of the special relationship between the U.S. and the U.K. and it urges the U.S. Trade Representative to immediately commence negotiations with the U.K. for the development of a new North Atlantic Trade and Investment Partnership (NATIP) between the U.S. and the U.K.
Representative Flores, Chairman of the House Republican Study Committee, joined Rep. Dent’s effort. “As Britain charts a new path forward, America has a new opportunity to strengthen our economic ties with our closest ally. This is the time to forge modern, valuable trade agreements that will benefit both of our nations. We should reaffirm the special relationship that binds our two countries, and ensure that relationship endures for decades to come,” said Flores.
The U.S. and the U.K. have a strong economic relationship. The U.K. is the largest cumulative direct foreign investor in America’s economy with over 900,000 jobs(1) linked to trade with British companies. British affiliated companies contribute $135,000,000,000(2) in value added to the United States’ gross domestic product. The UK’s investment of corporate assets in the United States exceeds two trillion dollars.(3)
“The U.K. and the U.S. are intertwined through our historical, cultural, and economic connections, and the assurance of maintaining those relationships through a bilateral trade agreement would send a strong message of support to one of our closest allies. I look forward to the House of Representatives taking up this resolution and strengthening the economic ties between the two of our great nations,” Dent concluded. ___________________________________________________________________________________
Note: Representative Dent serves as the Vice-Chair of House Appropriations Subcommittee on State and Foreign Operations.
(1) Confederation British Industry, “Sterling Assets 7,” page 6
(2) Confederation British Industry, “Sterling Assets 7,” page 9
(3) Congressional Research Service, “The United Kingdom: Background and Relations with the United States,” page 14
Sources on the web:
Congressional Research Service – http://tinyurl.com/jm9vs6x
CONTACT: Shawn Millan (610) 770-3490
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