Sponsors (2)
The bill trades broader market access and potential consumer price relief — especially for exporters, small businesses, farmers, and shoppers — for increased import competition, some fiscal revenue loss, and uncertainty/limits tied to time‑bound and condition‑limited tariff changes while balancing expedited negotiation authority with retained congressional oversight.
U.S. exporters — including many small businesses — would gain substantially expanded access to U.K. markets through lower tariffs and fewer non‑tariff barriers, increasing potential sales and jobs.
Consumers across the U.S. (especially middle‑class families) could see lower prices on some imported goods if duties are reduced, improving household purchasing power.
U.S. farmers and ranchers would gain new export opportunities to the U.K., supporting farm incomes and rural economies.
Workers and firms in industries exposed to increased imports (including some small businesses) could face stronger competition, putting jobs at risk in vulnerable sectors.
The authority to implement tariff changes expires March 1, 2029, creating uncertainty for businesses planning long‑term investments tied to the agreement.
Rules preventing reductions of some duties below set floors (e.g., maintaining at least 50% of certain rates or agricultural floors) could blunt consumer price benefits and limit negotiated concessions.
Based on analysis of 4 sections of legislative text.
Grants the President time-limited authority to negotiate and implement a comprehensive U.S.–U.K. trade agreement, with limits on tariff changes and required congressional consultation and approval.
Introduced February 27, 2025 by Christopher A. Coons · Last progress February 27, 2025
Authorizes the President to seek and negotiate a comprehensive trade and investment agreement with the United Kingdom, requires the President to start talks within 180 days of enactment, and sets limits and oversight rules for any agreement and tariff changes. The authority to negotiate and use expedited congressional procedures expires March 1, 2029, and the bill requires consultation with Congress and protection of existing agricultural tariff floors and certain tariff-rate limits.