The UNITED Act authorizes the President to negotiate a comprehensive trade agreement with the United Kingdom to enhance the economic well-being of the United States, while adhering to congressional oversight and specific trade objectives.
Christopher Coons
Senator
DE
The "Undertaking Negotiations on Investment and Trade for Economic Dynamism Act" or the "UNITED Act," aims to enhance the economic relationship between the United States and the United Kingdom through a comprehensive trade agreement. It grants the President the authority to negotiate such an agreement, targeting tariff and non-tariff barriers, while ensuring consultation with Congress throughout the negotiation process. The Act sets a deadline for initiating negotiations and specifies that any agreement cannot be waived, suspended, or terminated without congressional approval, emphasizing adherence to trade priorities and accountability.
UNITED Act: U.S. Set to Fast-Track Trade Talks with the UK, Eyeing Economic Boost by 2029
The "Undertaking Negotiations on Investment and Trade for Economic Dynamism Act," or UNITED Act, is on the table. This bill gives the President the green light to negotiate a major trade deal with the United Kingdom, aiming to slash tariffs and other trade barriers. The goal? To boost the U.S. economy by making it easier for American businesses to sell goods and services across the pond.
Cutting Through the Red Tape
The UNITED Act isn't just about handshakes and photo ops. It sets a clear timeline: The President has 180 days from the bill's enactment to kick off negotiations, with a deadline of March 1, 2029, to seal the deal (Sec. 4). This includes the power to tweak existing duties on goods – but there's a limit. The President can't cut any duty rate to less than 50% of what it is at the date of enactment (Sec. 4). Think of it as a guardrail to protect certain U.S. industries.
Real-World Check
So, what does this mean for everyday folks? Imagine a small business owner in the U.S. who makes specialized machine parts. Lower tariffs could open up the UK market, leading to more exports and potentially more jobs back home. On the flip side, a U.S. textile company might face tougher competition from UK imports. The bill acknowledges this by stating that any agreement can't be "waived, suspended, or terminated" without Congress saying so (Sec. 4).
The Bigger Picture
This trade deal isn't happening in a vacuum. The UNITED Act specifically mentions the USMCA (the updated NAFTA) as a model for high standards (Sec. 2). It also stresses the importance of honoring the 1998 Good Friday Agreement, ensuring that any trade deal doesn't disrupt the peace process in Northern Ireland (Sec. 2). The bill also defines key terms, like "United Kingdom," to make sure everyone's on the same page (Sec. 3). Before and during the entire process, the president is required to consult with congress (Sec. 4). While this bill gives the President significant leeway in negotiations, it also builds in safeguards and emphasizes the need for Congressional oversight. Whether you're running a tech startup, a farm, or a factory, this is one to watch.