Expressing the sense of the House of Representatives that the United States and the European Union should pursue a Transatlantic Trade and Investment Partnership.

Whereas the United States-European Union High Level Working Group on Jobs and Growth (HLWG) issued its final report on February 11, 2013; Whereas the economies of the European Union and the United States account for nearly one-half of world GDP; Whereas the European Union and United States account for 30 percent of world trade; Whereas $2.7 billion of goods and services are traded bilaterally each day, supporting millions of jobs in both economies; Whereas direct investments by the United States and European Union on both sides of the Atlantic total more than $3.7 trillion; Whereas the HLWG recommended a comprehensive agreement that addresses a broad range of bilateral trade and investment issues, including regulatory issues, and contributes to the development of global rules Whereas the HLWG found that a comprehensive Transatlantic Trade and Investment Partnership that addresses a broad range of bilateral trade and investment issues, including regulatory issues, and contributes to the development of global rules, would provide the most significant mutual benefit of the various options [it] considered. Whereas the HLWG recommended that a comprehensive agreement would include ambitious reciprocal market opening in goods, services, and investment, and would address the challenges and opportunities of modernizing trade rules and enhancing the compatibility of regulatory regimes Whereas the HLWG outlines a structure and content that includes market access, regulatory issues and nontariff barriers, and rules addressing shared global trade challenges and opportunities; Whereas the HLWG recommended that in addition to pursuing the elements of a comprehensive agreement, the two sides seek to make early and continuing progress on SPS measures affecting bilateral trade. Whereas the HLWG recommended to Leaders that each side initiate as soon as possible the formal domestic procedures necessary to launch negotiations on a comprehensive trade and investment agreement. That it is the sense of the House of Representatives that— (1) a comprehensive and ambitious Transatlantic Trade and Investment Partnership would support the creation of significant good-paying jobs for American workers, ranchers, and farmers; (2) a comprehensive and ambitious Transatlantic Trade and Investment Partnership would open new opportunity for United States companies to sell their goods and services in the European Union; (3) a comprehensive and ambitious Transatlantic Trade and Investment Partnership would further bond the economies of Europe and the United States and give rise to a dominant economic alliance that would strongly influence other nations toward market-based economies; (4) the President should promptly submit written notice to Congress of the President’s intention to enter into negotiations with the European Union for a comprehensive Transatlantic Trade and Investment Partnership; and (5) as soon as possible after providing notice and completing appropriate consultations with Congress, the President should initiate negotiations for a comprehensive Transatlantic Trade and Investment Partnership.

Summary: Expresses the sense of the House of Representatives that a Transatlantic Trade and Investment Partnership between the United States and the European Union (EU) would: (1) create significant good-paying jobs for American workers, ranchers, and farmers; (2) open new opportunity for U.S. companies to sell their goods and services in the EU; and (3) further bond the economies of Europe and the United States and give rise to a dominant economic alliance that would strongly influence other nations toward market-based economies. Expresses the sense of the House of Representatives that the President should promptly notify Congress of his intention to enter into negotiations with the EU for a comprehensive Transatlantic Trade and Investment Partnership and, as soon as possible after giving such notice, to initiate such negotiations.