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[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H. Res. 338 Introduced in House (IH)]

110th CONGRESS
  1st Session
H. RES. 338

  Encouraging increased cooperation between the United States and the 
         European Union to strengthen the transatlantic market.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                             April 25, 2007

Mr. Wexler (for himself, Mr. Kind, Mr. Gallegly, Mr. Lantos, Mr. Engel, 
  Mr. English of Pennsylvania, and Mr. Issa) submitted the following 
   resolution; which was referred to the Committee on Foreign Affairs

_______________________________________________________________________

                               RESOLUTION

 
  Encouraging increased cooperation between the United States and the 
         European Union to strengthen the transatlantic market.

Whereas the United States and the European Union have developed a strong 
        partnership for cooperation around the world, based on the foundation of 
        their economic relationship, which represents about 40 percent of the 
        world's commerce;
Whereas the United States and the European Union are each other's largest 
        trading and investment partners, and this partnership is responsible for 
        creating up to 14 million jobs on both sides of the Atlantic;
Whereas since the establishment of the New Transatlantic Agenda in 1995 the 
        United States and the European Union have each attempted numerous times 
        at the United States-European Union Summits to remove non-tariff and 
        regulatory barriers to trade but results have been disappointing;
Whereas even greater economic cooperation between the United States and the 
        European Union on efforts to reduce regulatory barriers to transatlantic 
        trade and investment is needed to enhance the prosperity of peoples on 
        both continents;
Whereas these differing regulatory approaches not only slow transatlantic 
        commerce and investment, but also force businesses to cope with 
        different rules and procedures, creating higher transaction costs, thus 
        weakening companies and job creation;
Whereas the United States Congress plays a significant role in regulatory policy 
        through both legislation and its oversight of regulatory agencies; and
Whereas the United States Congress applauds the initiative of German Chancellor 
        Angela Merkel to create a New Transatlantic Partnership by reducing 
        barriers to trade: Now, therefore, be it
    Resolved,  That the House of Representatives--
            (1) supports the United States and the European Union in 
        their commitment to launching discussions at the United States-
        European Union summit to be held on April 30, 2007, in 
        Washington, DC, on improving regulatory cooperation, especially 
        so as to encourage the development of new approaches to achieve 
        greater economic cooperation;
            (2) calls on United States and European regulatory agencies 
        to cooperate in efforts to reduce regulatory barriers across 
        the Atlantic and consider how such agencies can contribute to 
        that process;
            (3) urges the United States and the European Union to 
        conduct a jointly-funded, cooperatively-led study of existing 
        obstacles to creating a transatlantic market, including sector-
        by-sector estimates of the costs of existing barriers to trade 
        and investment and the costs and benefits of removing the 
        barriers;
            (4) recommends that the United States and European Union 
        negotiators report regularly to the United States Congress and 
        the European Parliament on their progress so that these 
        institutions may facilitate progress in the negotiations; and
            (5) encourages the business and labor communities in both 
        the United States and the European Union to work with the 
        United States Congress and the European Parliament, as well as 
        European national parliaments, to advance the agenda of 
        reducing regulatory barriers and strengthening the 
        transatlantic economic partnership.
                                 <all>
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