US senators call for Britain to join Nafta
Saturday 20 November 1999
The Senate Finance Committee has proposed a study to see if the United Kingdom could be brought within the aegis of the North America Free Trade Agreement (Nafta), which currently includes the US, Canada and Mexico.
It has asked the US International Trade Commission to study the idea, and produce estimates of the impact on trade, GDP, employment and investment.
Until now, the idea of opting out of the European Union and joining America instead has largely been the preserve of the right wing of the Conservative party and some Canadians, like Conrad Black, the owner of The Daily Telegraph.
But yesterday support from William Roth, chairman of the Finance Committee, and Daniel Patrick Moynihan, the senior Democrat on the committee and a well-respected figure on both sides of the political divide in Washington and London, means the idea will now be examined by the ITC, an independent body.
"I have long believed that both the United States and Great Britain would benefit from freer trade between our two countries," said the Senate Banking Committee's chairman Phil Gramm.
"We already have strong financial and historic ties; now it's time to further our relationship," he added.
Britain would have to leave the EU to join Nafta. European Union trade policy is made by the European Commission, and a unilateral decision to join Nafta would be impossible.
For the right, leaving the European Union is the main point of the exercise, while ensuring trade access to two of Britain's most important export markets, the US and Canada.
Britain accounts for two-thirds of all European investment in America, and is the largest foreign direct investor in the US. The US is the UK's largest single export market with combined annual exports of goods and services worth more than pounds 31bn.
- 1 Thailand deaths: Pair's bloodied bodies found naked on Koh Tao beach
- 2 Scottish independence: Ireland since 1919 is a lesson for Scotland in what a Yes vote means
- 4 John Travolta addresses former pilot's gay romance allegations publicly for the first time
Thailand deaths: Pair's bloodied bodies found naked on Koh Tao beach
Scottish independence: Police will be on high alert on Friday whatever the result
John Travolta addresses former pilot's gay romance allegations publicly for the first time
QS university world rankings: Imperial College London leapfrogs Oxford to join Cambridge as best British university
Scottish independence exclusive: Millions of banknotes sent to Scotland in case Yes vote sparks run on ATMs
Daniele Watts: Django Unchained actress detained by Los Angeles police after being mistaken for a prostitute
The political class is doing what Hitler couldn’t – destroying Britain
Scottish independence: Nationalist leader Jim Sillars threatens pro-union companies with 'day of reckoning' after independence
Scottish independence: Yes campaign feels the heat as Alex Salmond's NHS claims come under furious attack
Portuguese academic says British are 'filthy, violent and drunk'
£23m Birmingham cycle scheme is attacked by Tory councillor for not catering to the elderly
iJobs Money & Business
£20 - 24k (Uncapped Commission - £35k Year 1 OTE): Guru Careers: We are seekin...
£20 - 24k + Benefits: Guru Careers: This is a great opportunity for an enthusi...
£280 - £320 per day: Ashdown Group: The Ashdown Group have been engaged by a l...
£400 - £450 Per Day: Clearwater People Solutions Ltd: **URGENT CONTRACT ROLE**...