Dreier Introduces Resolution Calling for U.S.-E.U. Free Trade Agreement

April 14, 2005

WASHINGTON, DC - Congressman David Dreier (R-CA), Chairman of the House Rules Committee, has introduced a resolution expressing the sense of Congress that the U.S. initiate negotiations with the European Union (EU) on a U.S.-EU free trade agreement (FTA). The resolution, H. Con. Res. 131, cites the importance of the trans-Atlantic relationship and the broad range of trade issues that would benefit from comprehensive negotiations.

"The U.S.-EU economic relationship constitutes one of our most significant partnerships," Dreier said.

"The tremendous depth and breadth of this trading bloc has been enormously beneficial to consumers, workers, investors and businesses on both sides of the Atlantic, and it only continues to grow. The EU is also a strategic partner in a number of multilateral economic forums, not least the World Trade Organization, where we are working together to reduce barriers to trade and spur economic growth around the globe."

In 2004, the value of the U.S.-EU current account grew to $966 billion. Trade in goods was worth $447 billion and trade in services was worth $224 billion. When goods and services are taken into account, the EU is our largest trading partner.

Added Dreier, "It is also inevitable that in a relationship as intricate as ours, you are going to see a number of trade conflicts arise. Initiating a U.S.-EU FTA would provide an effective forum for addressing bilateral concerns while further strengthening our economic ties. It’s my hope that this resolution will serve as a starting point for a discussion on the many issues involved in this most important relationship."

DREIER ON U.S.-E.U. FREE TRADE AGREEMENT: DIAL-UP / BROADBAND