[Congressional Record Volume 162, Number 113 (Wednesday, July 13, 2016)]
[Senate]
[Pages S5088-S5089]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




   SENATE CONCURRENT RESOLUTION 47--EXPRESSING SUPPORT FOR FOSTERING 
 CLOSER ECONOMIC AND COMMERCIAL TIES BETWEEN THE UNITED STATES AND THE 
   UNITED KINGDOM FOLLOWING THE DECISION OF THE PEOPLE OF THE UNITED 
              KINGDOM TO WITHDRAW FROM THE EUROPEAN UNION

  Mr. HATCH (for himself, Mr. McConnell, Mr. Coats, Mr. Cornyn, Mr. 
Thune, Mr. Roberts, Mr. Blunt, Mr. Enzi, Mr. Scott, and Mr. Grassley) 
submitted the following concurrent resolution; which was referred to 
the Committee on Finance:

                            S. Con. Res. 47

       Whereas the United States and the United Kingdom are allies 
     with a long tradition of working in close cooperation to 
     support one another's mutual interests;
       Whereas the United Kingdom is the world's fifth largest 
     economy and one of the most important trading and economic 
     partners of the United States;
       Whereas expanding United States trade with the United 
     Kingdom has the potential to benefit American businesses, 
     farmers, ranchers, workers, and consumers;
       Whereas a strong and economically vibrant United Kingdom 
     capable of supporting global economic growth and promoting 
     shared Anglo-American economic principles is in the national 
     interest of the United States;
       Whereas the voluntary exchange of goods and services among 
     citizens of nations helps provide global economic stability, 
     especially in times of economic uncertainty;
       Whereas the United States also continues to support the 
     member states of the European Union and seeks the further 
     enhancement of economic and commercial ties between the 
     United States and the European Union, including through the 
     conclusion of a high-standard Transatlantic Trade and 
     Investment Partnership; and
       Whereas orderly and cooperative negotiations between the 
     United Kingdom and the European Union that uphold the 
     fundamental bases for trade and investment between the United 
     Kingdom and the European Union are in the mutual interest of 
     the United States, the United Kingdom, and the member states 
     of the European Union: Now, therefore, be it
       Resolved by the Senate (the House of Representatives 
     concurring), That Congress--
       (1) calls upon the President to consult with the Senate and 
     the House of Representatives to consider opportunities to 
     promote further economic and commercial activity and 
     cooperation between the United States and the United Kingdom, 
     including by way of a trade agreement between the United 
     States and the United Kingdom;
       (2) calls upon the President to invite the United Kingdom 
     to begin discussions towards establishing the basis for 
     negotiations for a trade agreement between the United States 
     and the United Kingdom;
       (3) recalls that section 103(d) of the Bipartisan 
     Congressional Trade Priorities and Accountability Act of 2015 
     (19 U.S.C. 4202(d)) directs the President to commence 
     negotiations covering tariff and nontariff barriers to United 
     States trade where the President determines that such 
     negotiations are feasible and timely and would benefit the 
     United States;
       (4) recalls further that section 102 of the Bipartisan 
     Congressional Trade Priorities and Accountability Act of 2015 
     (19 U.S.C. 4201) sets forth the negotiating objectives of the 
     United States, and that the Senate and the House of 
     Representatives expect that these congressionally-mandated 
     negotiating objectives will be achieved in any United States 
     trade agreement;
       (5) urges the President, throughout discussions with the 
     United Kingdom and in close consultation with the Senate and 
     the House of Representatives, to determine whether 
     negotiation of a trade agreement with the United Kingdom 
     would be likely to achieve the negotiating objectives 
     established by the Bipartisan Congressional Trade Priorities 
     and Accountability Act of 2015 and, if such negotiation would 
     be likely to achieve such objectives, to commence 
     negotiations towards a trade agreement with the United 
     Kingdom as soon as appropriate;
       (6) expresses support for enhanced economic and commercial 
     ties between the United States and the European Union, 
     including through the conclusion of a high-standard 
     Transatlantic Trade and Investment Partnership;
       (7) notes that the continued movement of goods, services, 
     and capital between the United Kingdom and the European Union 
     is important to American businesses invested in Europe and 
     the United States economy generally; and
       (8) calls upon the European Union and the United Kingdom to 
     work constructively to achieve a climate for trade and 
     investment that is mutually beneficial and productive.

  Mr. HATCH. Mr. President, I would like to take a few minutes to talk 
about a resolution that I am submitting today regarding the importance 
of the trade and investment relationship between the United States and 
the United Kingdom. I also would like to discuss our Nation's 
international trade policy more broadly, including our interest in 
negotiating and entering into trade agreements that satisfy the high 
standards that the Congress outlined in the Trade Promotion Authority, 
or TPA, statute we enacted last year.
  Last month, the U.K. voted to withdraw from the European Union. The 
formal withdrawal process is at its beginning stages, and the U.K. and 
the EU have many issues to resolve as they work out their future 
political and economic relationship. I am optimistic that these issues 
will be resolved constructively, and that the U.K. and the EU will 
achieve a trade and investment climate that is mutually beneficial and 
productive and that supports the continuation of the United States' 
close diplomatic, economic, and commercial ties with both the U.K. and 
the EU.
  Throughout this process, the U.S. must continue to show strong 
support for the important and longstanding relationship that our 
country enjoys with the U.K. That relationship is rooted in democratic 
principles, a similar culture and a common language, a strong 
commitment to peace and security, and close and open economic and 
commercial ties. The U.S. and the U.K. have a long tradition of working 
together to support one another's mutual interests, and the U.K.'s 
decision to withdraw from the EU should not jeopardize that tradition. 
In fact, the special relationship between our two countries must be 
fortified as the U.K. navigates the process of withdrawing from the EU.
  It is in that spirit that I propose this resolution, which highlights 
the importance of the political, economic, and commercial relationship 
between the U.S. and the U.K., and calls upon the administration to 
consult with the Congress to examine ways to promote further economic 
and commercial activity and cooperation between our two countries, 
including through the negotiation of a high-standard trade agreement at 
the appropriate time.
  The U.K. is the world's fifth largest economy and one of the United 
States' most important economic partners. Expanding U.S. trade with the 
U.K. would result in major benefits to both American and British 
businesses, workers, producers, and consumers. Furthermore, a 
strengthened economic partnership between the U.S. and the U.K. would 
produce important geopolitical benefits that are in our national 
interest.
  As such, the resolution calls upon the President to consult with the 
Congress regarding opportunities to further economic and commercial 
activity and cooperation between the U.S. and the U.K., including 
considering a trade agreement between our two countries. However--and 
let me emphasize this point--as with any trade agreement negotiated by 
this administration or the next, any future trade agreement between the 
U.S. and the U.K. must adhere to the high standards outlined in the 
recently enacted TPA law, which established very specific objectives 
regarding the negotiation of trade agreements. Any future trade 
agreement with the U.K. needs to satisfy those objectives in order to 
qualify for TPA procedures.
  Now that I have spoken about the importance of the trade and 
investment relationship between the U.S. and the U.K., I would like to 
speak about the importance of the trade and investment relationship 
between the United States and the European Union. While this resolution 
proposes stronger economic and commercial ties with the

[[Page S5089]]

U.K., it does the same for the EU. To be clear, the U.K.'s decision to 
withdraw from the EU should not jeopardize or weaken our country's 
relationship with the U.K., nor should it jeopardize or weaken our 
country's relationship with the EU. Both the U.K. and the EU are 
important diplomatic and economic partners of the United States.
  As such, the resolution proposes stronger economic and commercial 
ties between the U.S. and the EU, including through the conclusion of a 
high-standard Transatlantic Trade and Investment Partnership, T-TIP, 
agreement. Coincidentally, our trade negotiators are in Europe this 
week for the 14th round of T-TIP negotiations.
  I would like to take a few moments to discuss Congress's expectations 
for T-TIP and to highlight areas of particular concern.
  T-TIP presents an excellent opportunity for both the U.S. and the 
EU--the world's two largest economies--to strengthen our already robust 
economic relationship. That relationship is one of the most extensive 
and complex in the world. Together, our economies account for 
approximately half of world GDP and nearly one third of worldwide 
trade. Annual U.S.-EU trade amounts to hundreds of billions of dollars, 
and our two markets already are deeply integrated and relatively open. 
Nonetheless, opportunities exist for the U.S. and the EU to expand 
trade and investment by further reducing barriers and modernizing the 
rules that govern such trade and investment. But in order for T-TIP or 
any similar trade agreement to reach its full potential, it must 
reflect an unprecedented level of commitment--by both the EU and the 
Obama administration.
  T-TIP also presents an excellent opportunity for the U.S. and the EU 
to work together to help set high standards for the world. If the 
agreement does not meet a high standard, then the rest of the world 
will take notice. In order to qualify as a high-standard agreement, T-
TIP--just like any potential trade agreement between the U.S. and the 
U.K.--must satisfy the standards outlined in the TPA statute. If the 
agreement does not satisfy those standards, then it will face enormous 
difficulty in the Congress.
  To do this, T-TIP must address several difficult areas. I will 
highlight only a few such areas and issues today, while noting that 
many others exist.
  First, the agreement must have provisions that provide strong market 
access for agricultural products, including through the elimination of 
discriminatory geographical indication practices and unjustified 
sanitary and phytosanitary standards.
  Second, the agreement must be comprehensive and not exclude any 
products or economic sectors from the negotiations. Of particular 
concern are services. The agreement should not broadly exempt future 
services or specifically exempt other types of services, including 
audiovisual services or financial services. In particular, both the 
market access and the regulatory scope of the agreement should address 
financial services.
  Third, a valid and passable T-TIP agreement must reflect the highest 
standards of protection for intellectual property rights. Moreover, any 
outcome on intellectual property must not jeopardize our country's 
ability to achieve high levels of intellectual property protection in 
other markets or in other negotiations.
  Finally, T-TIP must address barriers to digital trade, including 
discriminatory treatment of digital products and barriers that inhibit 
the free flow of digital data, such as forced data localization 
policies. In short, the agreement must ensure that all products, 
services, and technologies are given the chance to compete in the 
marketplace.
  T-TIP is intended to be a model for the world, so we must get it 
right.
  The resolution that I'm introducing today notes the importance of 
economic cooperation among the U.S., the U.K., and the EU, and 
highlights the mutual benefits to be achieved through such cooperation. 
In particular, the resolution calls upon the EU and the U.K. to work 
constructively to achieve a climate for trade and investment that is 
mutually beneficial and productive; and it notes that the continued 
movement of goods, services, and capital between the U.K. and the EU is 
important not only to the U.K. and the EU, but also to American 
businesses invested in Europe and the U.S. economy generally. The U.S., 
the U.K., and the EU will all benefit as our countries work together to 
become economically stronger and more geopolitically secure.
  Finally, I would like to say a few words regarding the Trans-Pacific 
Partnership, or TPP, agreement. I fought hard to secure TPA, in large 
part, so that this administration would have the ability to secure a 
strong TPP agreement. However, in a few important areas, TPP falls 
short. I am committed to working with the administration to help to 
improve on those shortcomings. In the meantime, it is essential that 
the administration begin to work with our TPP partners to develop 
meaningful country-specific implementation commitments.
  During a hearing held by the Senate Finance Committee earlier this 
year, members of the Committee heard assessments from American 
exporters and stakeholders about the implementation of past free trade 
agreements. It is an unfortunate fact that the Obama administration has 
allowed free trade agreements to enter into force before ensuring that 
our partners have taken all steps necessary to comply with their 
obligations under the agreements. It is clear that more confidence 
regarding effective implementation of trade agreements will be 
necessary before the Congress approves TPP.
  Moreover, as our TPP partners begin their domestic implementation 
processes, concerns are growing that the measures that our trading 
partners intend to take to implement TPP fall short of what is required 
by the agreement. Failure by our trading partners to fully and 
faithfully implement their TPP obligations threatens to reduce the 
value of the agreement for U.S. businesses, workers, farmers, ranchers, 
and consumers.
  That is why it is essential that the Obama administration now work to 
reach country-specific plans identifying the changes that our trading 
partners must and will make to their laws, regulations, and practices 
in order to meet their key TPP obligations. These country-specific 
implementation commitments would provide a valuable tool for resolving 
shortcomings and ambiguities in the agreement, while helping to build 
confidence in the Congress that TPP will be implemented fully and 
faithfully by our trading partners. Put simply, these country-specific 
implementation commitments can be an essential component to developing 
the political support necessary for the Congress to pass TPP 
implementing legislation.
  During the 114th Congress, we have successfully enacted a number of 
strong trade policies that reflect and advance our national interest. 
T-TIP and TPP negotiations represent important opportunities for the 
administration to use the tools provided by Congress to help American 
businesses, workers, and consumers to benefit from trade. We must 
remain vigilant to ensure that our trade objectives are met and hold 
the administration accountable for achieving the goals that the 
Congress has established. At the same time, we need to look toward the 
future.
  The resolution that we are submitting today is designed to reinforce 
our support for strong, market-opening agreements and to remind this 
and future administrations that the Congress is, and will remain, an 
active participant in formulating U.S. trade policy.
  I urge all of my colleagues to join me in supporting this important 
resolution.

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