Bill Text: CA SJR16 | 2013-2014 | Regular Session | Introduced

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Bill Title: Transatlantic Trade and Investment Partnership.

Spectrum: Bipartisan Bill

Status: (Engrossed - Dead) 2013-08-30 - Referred to Com. on J., E.D., & E. [SJR16 Detail]

Download: California-2013-SJR16-Introduced.html

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BILL NUMBER: SJR 16	INTRODUCED
	BILL TEXT


INTRODUCED BY   Senators Emmerson, Berryhill, DeSaulnier, Liu,
Steinberg, Walters, and Wright

                        AUGUST 19, 2013

   Relative to trade relations with Europe.


	LEGISLATIVE COUNSEL'S DIGEST


   SJR 16, as introduced, Emmerson. Transatlantic Trade and
Investment Partnership.
   This measure would urge the President and United States Senate to
negotiate and ratify, respectively, the Transatlantic Trade and
Investment Partnership agreement with the European Union.
   Fiscal committee: no.



   WHEREAS, The United States and the European Union are each other's
largest trading and investment partners. The United States and
European Union economies combined account for nearly half the entire
world Gross Domestic Product (GDP) and for nearly a third of the
world's trade flows. The United States possesses 21.6 percent of the
world's GDP and the European Union possesses 25.1 percent of the
world's GDP; and
   WHEREAS, The transatlantic relationship between the United States
and European Union also defines the shape of the global economy as a
whole. Either the United States or the European Union is the largest
trade and investment partner for almost all other countries in the
global economy; and
   WHEREAS, Each day, goods and services worth $2.7 billion are
traded between the United States and European Union, promoting
economic growth and supporting millions of jobs in both economies.
The United States and European Union have directly invested more than
$3.7 trillion on both sides of the Atlantic; and
   WHEREAS, The United States is comprised of 315 million
inhabitants, and the European Union is comprised of 508 million
inhabitants; and
   WHEREAS, Total United States investment in the European Union is
three times higher than in all of Asia, while European Union
investment in the United States is around eight times the amount of
European Union investment in India and China together; and
   WHEREAS, A successfully negotiated Transatlantic Trade and
Investment Partnership (TTIP) agreement would boost economic growth
in both the United States and European Union and would greatly add to
the over 13 million American and European jobs already supported by
transatlantic trade and investment; and
   WHEREAS, Estimates predict that a landmark TTIP agreement between
the United States and European Union could have enormous benefits,
with up to 2 percent or $650 billion of additional GDP on both sides.
Early findings indicate that the TTIP agreement would increase
California exports to the European Union by up to 25 percent and
create 65,000 new California jobs; and
   WHEREAS, Ratification of the TTIP agreement would benefit the
United States and European Union trade relationship by doing all of
the following:
   (a) Further opening markets to grow the $459 billion in United
States goods and services exports to the European Union - the largest
export market for the United States.
   (b) Strengthening rules-based investment to grow the world's
largest investment relationship.
   (c) Seeking to both eliminate all tariffs on trade, and tackle
costly nontariff barriers that impede the flow of goods and services
trade.
   (d) Seeking to significantly cut the cost of differences in
regulation and standards by promoting greater compatibility,
transparency and cooperation.
   (e) Promoting the global competitiveness of small- and
medium-sized enterprises; now, therefore, be it
   Resolved by the Senate and the Assembly of the State of
California, jointly, That the Legislature urge the President of the
United States and the United States Senate to respectively negotiate
and ratify the Transatlantic Trade and Investment Partnership
agreement; and be it further
   Resolved, That the Secretary of the Senate transmit copies of this
resolution to the President and Vice President of the United States,
to the Majority Leader of the United States Senate, to each Senator
from California in the Congress of the United States, and to the
author for appropriate distribution.