Bipartisan Bill Offering TPA for UK FTA Introduced in House
House Ways and Means Committee Trade Subcommittee Chairman Adrian Smith, R-Neb., and Rep. Jim Himes, D-Conn., introduced the Undertaking Negotiations on Investment and Trade for Economic Dynamism (United) Act, a bill that directs the administration to begin negotiations for a comprehensive free trade agreement within 180 days of passage.
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The bill instructs the president to use the negotiating priorities Congress set out in its last trade promotion authority bill, which has expired. It also says negotiators have the authority to lower U.S. tariffs by up to 50% of current rates, unless the current rate is 5% or less, then it can be reduced further or eliminated entirely. For "import sensitive" agricultural products, rates can't go below what was offered during the Uruguay Round, the bill says. It also bars the administration from raising duties as part of negotiations.
The bill is a companion to a bipartisan bill introduced in the Senate in March (see 2303030036).
"American manufacturers, agriculture producers, and consumers alike stand to benefit greatly from proactive and tangible action maximizing trade opportunities with our allies," Smith said in a May 24 news release. "Building on our outstanding, historic relationship with the United Kingdom provides a valuable opportunity to mutually enhance economic resiliency, strengthen supply chains, and increase market growth."
Himes said the United Act "paves the way for a comprehensive free trade agreement which will expand opportunities for domestic businesses and workers, improve supply chain resilience, and reduce costs for American consumers. This bipartisan legislation offers an opportunity to deepen our special relationship with the United Kingdom under mutually beneficial terms, laying the groundwork for decades of prosperity and cooperation."