IV 

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; 


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•HRES 338 IH 

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 nontariff 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 

1 Resolved, That the House of Representatives— 

2 (1) supports the United States and the Euro3 pean Union in their commitment to launching dis4 cussions at the United States-European Union sum5 mit to be held on April 30, 2007, in Washington, 

6 DC, on improving regulatory cooperation, especially 


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•HRES 338 IH 

1 so as to encourage the development of new ap2 proaches to achieve greater economic cooperation; 

3 (2) calls on United States and European regu4 latory agencies to cooperate in efforts to reduce reg5 ulatory barriers across the Atlantic and consider 

6 how such agencies can contribute to that process; 

7 (3) urges the United States and the European 

8 Union to conduct a jointly-funded, cooperatively-led 

9 study of existing obstacles to creating a transatlantic 

10 market, including sector-by-sector estimates of the 

11 costs of existing barriers to trade and investment 

12 and the costs and benefits of removing the barriers; 

13 (4) recommends that the United States and Eu14 ropean Union negotiators report regularly to the 

15 United States Congress and the European Par16 liament on their progress so that these institutions 

17 may facilitate progress in the negotiations; and 

18 (5) encourages the business and labor commu19 nities in both the United States and the European 

20 Union to work with the United States Congress and 

21 the European Parliament, as well as European na22 tional parliaments, to advance the agenda of reduc23 ing regulatory barriers and strengthening the trans24 atlantic economic partnership. 

Æ 


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