Wednesday, June 29, 2016
Dent Calls For Bilateral Trade Agreement With UK
“The Brexit referendum, for better or for worse, is behind us. This was a decision for the British people to make and they chose to leave. We must respect that decision whether we agree with it or not. Now Congress has a responsibility and interest to work with the United Kingdom, particularly when it comes to strengthening economic ties between our two great nations.
"This is why I am introducing a resolution urging the Obama Administration to direct the United States Trade Representative (USTR) to immediately commence discussions for a U.S.-UK bilateral trade agreement.
"Brexit will likely cause short term disruptions. A bilateral trade agreement, the North Atlantic Trade and Investment Partnership (NATIP), will mitigate potentially adverse economic consequences as a result of Brexit. Beginning discussions for this agreement will help stabilize the current financial turmoil.
"The United States and the United Kingdom have long shared a special relationship. We have strong cultural and economic ties and a commitment to shared strategic interests. The UK is the largest private sector investor in the United States as well as one of the largest markets for U.S. goods, and one of the largest suppliers. By forming a stronger economic alliance with the UK our strategic interests would be strengthened and enhanced.
"Discussions for a bilateral trade agreement between the U.S. and the U.K. do not weaken a commitment to the Transatlantic Trade and Investment Partnership (TTIP). It is abundantly clear that negotiations for TTIP are moving at a slow pace. NATIP could ignite action or movement on TTIP. These two trade agreements would be complimentary to one another.
"Finally, assuring a great ally in this extraordinary moment is an immediate imperative. The United States and the United Kingdom must continue to work together. The Administration must begin discussions to show that the UK is never ‘in the back of the queue’ when it comes to American interests.”