Brady, Hatch Introduce US-UK FTA Resolution
The House of Representatives Ways and Means Committee Chairman, Kevin Brady (Republican – Texas), and Senate Finance Committee Chairman Orrin Hatch (Republican – Utah) have introduced a resolution into the US Congress expressing strong support for discussions on a free trade agreement (FTA) between the United States and the United Kingdom.
Following the UK vote to withdraw from the European Union (EU), the resolution calls on President Barack Obama 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 UK."
In particular, the President is called on to invite the UK to "begin discussions towards establishing the basis for negotiations" for a bilateral FTA.
The resolution states that the President should, "in close consultation with the Senate and the House of Representatives, ... 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 [which established the President's Trade Promotion Authority] and, if so, to commence negotiations as soon as appropriate."
Brady and Hatch said: "Our resolution calls upon the President to invite the UK to begin discussions towards establishing the basis for negotiations for an FTA between the United States and the UK. It also expresses support for enhanced economic and commercial ties between the United States and the EU."
The two leading tax-writing lawmakers in Congress confirmed that they would "work to move this resolution quickly."
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