Mr. Speaker, in the days leading up to the Brexit referendum, the President told our friend, Britain that if they were to leave the European Union, they would end up at the ‘‘back of the queue’’ for a trade deal. What an absurd statement to make to our most important ally. Throughout history we have worked side by side with the U.K. to overcome global crises. After the disastrous foreign policy for the last eight years, America has few true friends left in this world. A free trade agreement between the U.S. and the U.K. should not be at the back of the line, but at the front. The U.S. and Britain share a common heritage and values.

We also have a deep and longstanding trade relationship grounded in our complimentary economies. The U.S. exported over $76 billion in planes, helicopters, spacecraft, and aircraft parts to the U.K. in 2014. Our inability to work towards a trade agreement with the U.K. will negatively affect more than 40 Aerospace companies in Texas alone. We are Britain’s most important trading partner. The U.S. imports over $56 billion in goods every year from Britain and 20 percent of our exports bound for the EU end up in the U.K. market. We are also a major investor in the British economy, with U.S. foreign direct investment nearing $588 billion in 2014. Unlike the Transatlantic Trade and Investment Partnership (TTIP), a trade deal with the U.K. would be simple to broker. It could be as easy as expanding NAFTA to include the U.K., or creating a new model for more simplified trade agreements with individual countries in the future. A trade agreement with the U.K. would not only deepen our close friendship, but would also chip away at non-tariff regulatory barriers that are being built around the European Union, such as the different requirements for testing the safety of cars and drugs. A more streamlined and efficient trading relationship would reap benefits for both Washington and London. Britain’s exit from the EU should be looked at as an American opportunity. The prospect of a bilateral U.S.–U.K. trade agreement is exciting; such an agreement would promote economic freedom, champion national sovereignty, and create a new model for other bilateral trade agreements. We have entered a strange time in politics— one in which free trade has never been more unpopular. Brexit presents a unique opportunity to demonstrate the positive impacts of free trade with one of our closest allies. We have already seen what can happen to global markets if the U.K. appears isolated: in the wake of the Brexit referendum the British pound plummeted by 7.6 percent against the dollar. Britain’s continued seclusion will only cause more harm than good for the rest of us. And it doesn’t end there. Economic disaster in London will translate into a reassessment of military and diplomatic relations in Washington. For the Administration to ignore both these risks and opportunities is a disservice to both our interests and those of our friends across the pond. And that’s just the way it is.

We are also a major investor in the British economy, with U.S. foreign direct investment nearing $588 billion in 2014. Unlike the Transatlantic Trade and Investment Partnership (TTIP), a trade deal with the U.K. would be simple to broker. It could be as easy as expanding NAFTA to include the U.K., or creating a new model for more simplified trade agreements with individual countries in the future. A trade agreement with the U.K. would not only deepen our close friendship, but would also chip away at non-tariff regulatory barriers that are being built around the European Union, such as the different requirements for testing the safety of cars and drugs. A more streamlined and efficient trading relationship would reap benefits for both Washington and London. Britain’s exit from the EU should be looked at as an American opportunity. The prospect of a bilateral U.S.–U.K. trade agreement is exciting; such an agreement would promote economic freedom, champion national sovereignty, and create a new model for other bilateral trade agreements. We have entered a strange time in politics— one in which free trade has never been more unpopular. Brexit presents a unique opportunity to demonstrate the positive impacts of free trade with one of our closest allies. We have already seen what can happen to global markets if the U.K. appears isolated: in the wake of the Brexit referendum the British pound plummeted by 7.6 percent against the dollar. Britain’s continued seclusion will only cause more harm than good for the rest of us. And it doesn’t end there. Economic disaster in London will translate into a reassessment of military and diplomatic relations in Washington. For the Administration to ignore both these risks and opportunities is a disservice to both our interests and those of our friends across the pond. And that’s just the way it is.

A more streamlined and efficient trading relationship would reap benefits for both Washington and London. Britain’s exit from the EU should be looked at as an American opportunity. The prospect of a bilateral U.S.–U.K. trade agreement is exciting; such an agreement would promote economic freedom, champion national sovereignty, and create a new model for other bilateral trade agreements. We have entered a strange time in politics— one in which free trade has never been more unpopular. Brexit presents a unique opportunity to demonstrate the positive impacts of free trade with one of our closest allies. We have already seen what can happen to global markets if the U.K. appears isolated: in the wake of the Brexit referendum the British pound plummeted by 7.6 percent against the dollar. Britain’s continued seclusion will only cause more harm than good for the rest of us. And it doesn’t end there. Economic disaster in London will translate into a reassessment of military and diplomatic relations in Washington. For the Administration to ignore both these risks and opportunities is a disservice to both our interests and those of our friends across the pond. And that’s just the way it is.

We have already seen what can happen to global markets if the U.K. appears isolated: in the wake of the Brexit referendum the British pound plummeted by 7.6 percent against the dollar. Britain’s continued seclusion will only cause more harm than good for the rest of us. And it doesn’t end there. Economic disaster in London will translate into a reassessment of military and diplomatic relations in Washington. For the Administration to ignore both these risks and opportunities is a disservice to both our interests and those of our friends across the pond. And that’s just the way it is.

And that’s just the way it is.