[Congressional Record Volume 149, Number 169 (Thursday, November 20, 2003)]
[Extensions of Remarks]
[Pages E2359-E2360]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




             UNITED KINGDOM FREE TRADE AGREEMENT RESOLUTION

                                 ______
                                 

                          HON. MARK E. SOUDER

                               of indiana

                    in the house of representatives

                      Wednesday, November 19, 2003

  Mr. SOUDER. Mr. Speaker, I rise today to introduce a resolution 
expressing the sense of Congress that the President of the United 
States should enter into a free trade agreement (FTA) with the United 
Kingdom of Great Britain and Northern Ireland.
  The United States and the United Kingdom share one of the closest and 
most unique cultural, economic, strategic relationships of any two 
countries in history. Our nations are based on the rule of law. We 
share a common history, language, and love of freedom and liberty. Our 
military alliance liberated Europe from Adolf Hitler and removed Saddam 
Hussein from power in Iraq. The entrepreneurial spirit of Americans and 
Britons is evident in the economic power our countries have exerted for 
over two hundred years.
  I believe that it is no accident that two of the most freedom-loving 
countries on earth have also been the most economically successful 
countries. The independence and liberties Americans and Britons enjoy 
politically have transferred themselves to an economic freedom to 
invent, innovate, and trade.
  Unfortunately, that freedom to trade is often hindered by barriers 
and tariffs. Some barriers give unfair advantage to goods through 
artificially lower prices. Other barriers try to protect domestic 
industries, sometimes delaying much needed innovation.
  Countries that open their domestic markets, remove barriers to 
foreign direct investment, and promote free enterprise improve the 
lives of their citizens. The US and the UK should encourage open 
markets because limiting the availability of goods or increasing the 
final price paid by consumers can directly inhibit consumer freedom and 
reduce consumer welfare.
  As the largest economy in the world, the United States should lead 
the movement for free trade because free trade boosts our economy. An 
International Trade Commission report estimates that the elimination 
of tariffs between the United States and the United Kingdom would 
result in an 11 percent to 16 percent increase in American exports to 
the United Kingdom.

  The economic relationship between the US and UK is one of the largest 
trading relationships in the world. Direct foreign investment flowing 
between our countries totals nearly $400 billion--the largest such 
relationship in the world. British investment in the United States 
helps to sustain over 1 million American jobs.
  In my home state of Indiana, there are 141 British companies doing 
business, including Rolls Royce and Smith Industries. These companies 
provide 36,000 Hoosiers with jobs. Furthermore, major Indiana companies 
such as Eli Lilly, Great Lakes Chemical, Biomet, and Lincoln National 
Corporation have substantial interests in Great Britain.
  In the past few years the United States negotiated or is negotiating 
FTAs with a number of countries. Yet, the United Kingdom is not one of 
those countries. Given the depth of our relationship and that exports 
could increase 11 percent to 16 percent, it seems natural for Americans 
to push for this FTA. Increasing trade will help workers in Indiana and 
throughout the United States.
  Furthermore, as the European Union continues to tighten its control 
over member states, the days when the United Kingdom is free to set its 
own trade policy and negotiate its own trade agreements may be 
numbered. A proposed EU constitution will potentially put more power in 
the hands of bureaucrats in Brussels rather than London.
  Also, given the recent anti-American sentiment running through much 
of continental Europe, it is highly probable that those in control of 
the EU will use the organization to stymie US economic interests. The 
United States must take this opportunity to protect its trade with 
Great Britain and to help Great Britain protect its right to trade with 
whomever it wants, however it wants.
  In an amendment offered by Senator Mitch McConnell of Kentucky to its 
Fiscal Year 2004 budget resolution, the United States Senate expressed 
its support for an FTA with the United Kingdom (S. Con. Res. 23). It is 
time the House of Representatives expresses its support too.

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