BILATERAL RELATIONSHIP.

SEC. 762. BILATERAL RELATIONSHIP. (a) Findings.—Congress makes the following findings: (1) The current agreement between the United States and the United Kingdom for operating rights between the two countries, known as Bermuda II, is one of the most restrictive bilateral agreements the United States has with a developed aviation power that provides substantially greater opportunities and has resulted in a disproportionate market share in favor of United Kingdom carriers over United States carriers. (2) The United States has attempted in good faith to negotiate a new bilateral agreement, but the United Kingdom has been unwilling to accept or introduce reasonable proposals for a new agreement. (3) Because of the United Kingdom’s unwillingness to accept reasonable proposals advanced by the United States, the latest rounds of negotiations between the United States and the United Kingdom for new operating rights have failed to produce an agreement between the two countries. (4) The Secretary has the discretionary authority to revoke the exemption held by British carriers to operate the Concorde aircraft into the United States. (b) Consideration of Exercising Authority.—The Secretary should immediately consider whether exercise of his authority to revoke the Concorde exemption would be an appropriate and effective response to the present unsatisfactory situation. (c) Consideration of Other Remedies.—The Secretary should immediately consider whether it would be effective and appropriate to execute other remedies available to the United States Government, including— (1) revoking all slots and slot exemptions held by British air carriers at all United States slot-restricted airports; (2) rescinding current exemptions or permits under the Bermuda II bilateral to prohibit flights by British carriers to the United States; or (3) renunciation of the current Bermuda II bilateral.