[Congressional Record (Bound Edition), Volume 163 (2017), Part 2]
[Extensions of Remarks]
[Page 2480]
[From the U.S. Government Publishing Office, www.gpo.gov]




                  IMPORTANCE OF A U.S.-U.K. TRADE DEAL

                                  _____
                                 

                              HON. TED POE

                                of texas

                    in the house of representatives

                       Monday, February 13, 2017

  Mr. POE of Texas. Mr. Speaker, this past summer British citizens 
chose to reclaim their independence. In a landmark referendum they 
decided to leave the European Union and take charge of their economic 
future. Now, in the wake of Brexit, it is important that we preserve, 
as Winston Churchill first put it in 1946, the special relationship 
between the U.S. and the U.K.
  Our two nations are bound together by a shared history, a common 
language, and a friendship that reaches back hundreds of years. Now our 
two countries got off to a rough start. The Crown opposed our 
independence and then burned the Capitol and the White House in the War 
of 1812. But Great Britain is not only our oldest enemy but our oldest 
ally. For over two hundred years our two countries have partnered 
together to preserve peace and security. From the trenches of WWI to 
the mountains of Afghanistan, our men and women have spilt blood 
together on the battlefield. Our relationship is deep and special.
  A trade deal represents yet another opportunity to deepen our 
relationship. The previous Administration threatened to put the U.K. 
``at the back of the queue'' for a trade deal. But that kind of snub to 
our greatest ally is exactly the opposite of what we should be doing.
  A bilateral agreement will enhance the flow of commerce and boost the 
welfare of our economies. Trade deals that do not help the United 
States are things of the past. A bilateral trade agreement can be in 
both our interests.
  The U.K. shares many values and business practices with the U.S. Our 
similarities will help ensure a smooth negotiation process as neither 
side will be forced into making hard concessions. For example, because 
Britain's workers are paid at about the same rate as Americans, we do 
not have to worry about American manufacturers moving factories to the 
English countryside. Jobs will not be sent overseas. We will be able to 
streamline regulations and reduce barriers to trade. That means more 
consumers for U.S. goods. Our two countries already enjoy close 
economic ties. No country receives more investment from Britain than 
the United States. And the United States is the largest investor in the 
United Kingdom.
  In my home state of Texas, the U.K. is the number one foreign direct 
investor. It sends over $2.5 billion dollars a year into the Texas 
economy. This investment has helped to bring more than 87,000 jobs to 
hardworking Texans. Texas is a great place to do business. The British 
people see that. But these kinds of gains are not limited to Texas 
alone. Every day over a million Americans go to work for British 
companies based in the U.S. It is critical that we turn our backs on 
trade. Houston is dependent on the free flow of goods. Over 50 percent 
of the city's economy is based on the Port of Houston. But that does 
not mean the United States has to give away the farm to get a trade 
deal done. We can have free and fair trade. We can level the playing 
field for American businesses, give American goods better access to 
consumers around the world, and increase American jobs.
  The new Administration has expressed its preference for bilateral 
deals over more cumbersome multilateral agreements. A bilateral deal 
with the U.K. is a great place to start. Once the U.K. is able to throw 
off the shackles of the EU's restrictive trade policies, there will be 
better opportunities for job growth and investment.
  A free trade deal between the United Kingdom and the United States 
will be an important symbol of our dedication to promoting economic 
freedom. Together we can come up with the gold standard of trade deals. 
This deal could serve as a model for future deals or maybe even opened 
up for other nations to join.
  The geopolitical effects of a trade deal may be just as important as 
the deal itself. This deal can send a message to those opposed to our 
shared values of freedom and liberty that the United States and the 
United Kingdom are standing strong together.
  And that's just the way it is.

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