FOR IMMEDIATE RELEASE: May 16^th, 2012

Paulsen Leads Bipartisan Letter Pressing For Increased European Trade

Includes steps to strengthen trade relations and spur U.S. job creation

Washington, D.C. – Continuing his efforts to level the playing field for U.S. workers and businesses competing abroad and to help foster U.S. job creation, Rep. Erik Paulsen (R-MN), member of the House Ways and Means Committee, joined Rep. Richard Neal (D-MA) this week in leading a bipartisan letter in support of strengthening our economic relationship with the European Union. Valued at over $4 trillion, the United States and the European Union share the world’s largest single commercial relationship. 

“The creation of the High Level Working Group on Transatlantic Jobs and Growth is an important step in promoting investment, trade, growth, and job creation for both the United States and our partners in Europe. Taking simple steps like eliminating tariffs between our two economies would increase American exports and job growth. I look forward to working across the aisle on further initiatives to level the playing field for American workers to compete and win abroad,” said Rep. Paulsen.                        

Full text of the letter below: 

Dear Mr. President:

We welcome the establishment of the High Level Working Group on Transatlantic Jobs and Growth, and urge U.S. Trade Representative Ron Kirk and EU Trade Commissioner Karel De Gucht to recommend, as soon as possible, ambitious steps to stimulate trade and investment between the United States and European Union.  

The United States and European Union share a strong economic relationship, valued at over $4 trillion, the world's largest single commercial relationship.  And European firms have invested over $1.5 trillion in the United States, directly employing millions of American workers. 

Yet many steps can be taken to further strengthen this already robust relationship.  Simply eliminating tariffs between the United States and European Union could increase U.S. goods exports to the EU by 17 percent over the next five years, potentially adding $180 billion to our combined economies.  U.S. and EU levels of protection for our consumers, workers, investors and the environment are broadly similar, and closer cooperation between our regulators can improve efficiency and effectively address non-tariff barriers to trade.  Steps to promote investment, services trade, and procurement can bring additional growth and jobs to both economies, as well as create opportunities for collaboration on trade issues of common concern.  

We have a unique opportunity to use our deep economic relationship with our EU partners to create jobs and growth in both the United States and Europe, and set a high standard for trade and investment agreements moving forward. We look forward to working with you to take advantage of it.

Read entire letter and view all 51 co-signers here. 

Paulsen, a champion of small business and advocate of free enterprise, entrepreneurship, and innovation, currently serves on the House Ways and Means Committee. He is co-chair of the Congressional Medical Technology Caucus and the U.S.–Korea Free Trade Working Group.

For more information on Rep. Paulsen’s work in Congress, and for past segments of Erik's Correspondence Corner, please visit www.paulsen.house.gov.

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