[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[H. Res. 547 Introduced in House (IH)]







104th CONGRESS
  2d Session
H. RES. 547

Expressing the sense of the House of Representatives that any extension 
  of fast-track negotiating authority to the executive branch for the 
 expansion of the North American Free Trade Agreement (NAFTA) be tied 
  solely to negotiations with the European Union on the creation of a 
                Trans-Atlantic Free Trade Area (TAFTA).


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           September 27, 1996

 Ms. Kaptur submitted the following resolution; which was referred to 
                    the Committee on Ways and Means

_______________________________________________________________________

                               RESOLUTION


 
Expressing the sense of the House of Representatives that any extension 
  of fast-track negotiating authority to the executive branch for the 
 expansion of the North American Free Trade Agreement (NAFTA) be tied 
  solely to negotiations with the European Union on the creation of a 
                Trans-Atlantic Free Trade Area (TAFTA).

Whereas trade is most effective and beneficial between economies at similar 
        stages of economic, social, and political development;
Whereas the United States and the 15 countries of the European Union have had a 
        long and integrated trading relationship since the United States was 
        established;
Whereas the United States and the European Union have maintained a trade balance 
        for more than 2 decades;
Whereas United States exports to the European Union have grown from 
        approximately $12,000,000,000 in 1970 to over $100,000,000,000 in 1994;
Whereas Europe's economic health is key to the growth of United States exports 
        and to the United States economy at large;
Whereas Europe accounts for 55 percent of global sales of United States 
        affiliates;
Whereas the establishment of a Trans-Atlantic Free Trade Area (TAFTA) can serve 
        as the impetus for closer cooperation between the United States and the 
        European Union in the aftermath of the Cold War;
Whereas TAFTA has been endorsed by both the labor and business community, as 
        well as the majority of leading economists;
Whereas TAFTA has been further endorsed by the executive branch, the European 
        Commission, and European heads of state;
Whereas free trade is possible only among free people with democratic and open 
        political systems;
Whereas free trade is most effective between countries with similar social, 
        environmental, and labor laws;
Whereas free trade requires open capital markets and stable exchange rates; and
Whereas the European Union is the only group of countries that currently meets 
        these standards for free trade: Now, therefore, be it
    Resolved, That it is the sense of the House of Representatives that 
any extension of fast-track negotiating authority to the executive 
branch for the expansion of the North American Free Trade Agreement 
(NAFTA) be tied to, and only to, negotiations with the European Union 
for the creation of a Trans-Atlantic Free Trade Area (TAFTA).
                                 <all>