Encouraging increased cooperation between the United States and the European Union to strengthen the transatlantic market.

Supports the United States and the European Union (EU) in their commitment to launching discussions at the April 2007 United States-European Union summit on improving regulatory cooperation.

Calls on U.S. and European regulatory agencies to reduce regulatory barriers across the Atlantic.

Urges the United States and the EU to conduct a study of existing obstacles to creating a transatlantic market.

Encourages the U.S. and EU business and labor communities to work with the U.S. Congress and the European Parliament, as well as European national parliaments, to reduce regulatory barriers and strengthen the transatlantic economic partnership.