Category: Press Releases and Statements

U.S.-India Joint Statement Marks Important Progress in Bilateral Commercial Relationship

Posted on by Joe Locher

Washington, D.C. – National Foreign Trade Council (NFTC) Vice President for Global Trade Policy Tiffany Smith released a statement following the administration’s announcement of a Joint Statement providing the outline of an “Interim Agreement” with India:

“The Joint Statement announcing a framework for an Interim Agreement with India is an important development in our relationship with one of the world’s biggest economies, and we thank the administration, and USTR in particular, for their efforts. 

“We were pleased to see a significant reduction in tariffs in both the U.S. and India, as well as progress on a number of challenging issues such as the elimination of India’s import licensing in the ICT sector and a commitment to addressing digital trade barriers that limit opportunities for U.S. companies in India.

“We hope the Interim Agreement creates momentum to conclude the comprehensive U.S.-India Bilateral Trade Agreement (BTA), addresses additional irritants, further reduces bilateral tariffs, and delivers on the promise of a mutually beneficial bilateral relationship. 

“A critical element of the BTA’s outcomes on digital trade must include India’s support for a permanent global moratorium on customs duties on electronic transmissions at the WTO’s 14th Ministerial Conference, and we urge the administration to keep pressing India to make this commitment in advance of the ministerial.”

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About the NFTC

The National Foreign Trade Council (NFTC) is the premier business association advancing trade, tax, national security and supply chain policies that support access to the global marketplace. Founded in 1914, NFTC promotes an open, rules-based global economy on behalf of a diverse membership of U.S.-based businesses, who account for over $6 trillion in revenue and employ nearly 6 million people in the United States.

Congress and the Administration Must Continue to Safeguard America’s Technology Competitiveness

Posted on by Joe Locher

Washington, D.C. – National Foreign Trade Council (NFTC) Vice President for Global Trade Policy Tiffany Smith issued a statement today on the House Ways & Means Trade Subcommittee hearing on “Maintaining American Innovation and Technology Leadership.”

“Today’s hearing underscores the important role the United States should play in creating a globally competitive environment where American innovators, creators, technology, and services firms can thrive. Thank you to the subcommittee for calling today’s hearing and to the members for their longstanding staunch support for U.S. technological leadership.

“Crucially, the United States must continue to push back on foreign government actions that discriminate or disadvantage U.S. companies, and we thank the administration for their continued commitment and recent successes in this area. 

“However, governments around the world continue to seek to protect their markets and profit from U.S. companies’ success. We urge Congress and the administration to continue fighting to level the playing field so that American businesses can continue to deliver cutting-edge technologies, products, and services around the world.”

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About the NFTC

The National Foreign Trade Council (NFTC) is the premier business association advancing trade, tax, national security and supply chain policies that support access to the global marketplace. Founded in 1914, NFTC promotes an open, rules-based global economy on behalf of a diverse membership of U.S.-based businesses, who account for over $6 trillion in revenue and employ nearly 6 million people in the United States.

Side-by-Side Agreement Is Crucial Step Forward in International Tax Framework Negotiations

Posted on by Joe Locher

WASHINGTON D.C. – National Foreign Trade Council (NFTC) Vice President for International Tax Policy Anne Gordon today issued the following statement:

“Today’s announcement that the OECD Inclusive Framework created a safe harbor for robust national tax systems like that of the United States is a crucial step forward in the long path toward securing a more certain international tax framework. This move recognizes that tax systems which accomplish the goals of BEPS are on par with the Pillar Two global minimum tax and should therefore coexist with the international framework.

“Additionally, ensuring an appropriate treatment for non-refundable credits and other tax incentives is a much-needed development, which has long been a priority of the U.S. business community by allowing countries to determine the best model for incentivizing real economic investment without disadvantaging American companies. 

“We also welcome the temporary extension of the Transitional CbCR Safe Harbor and creation of the Ultimate Parent Entity Safe Harbor, which will provide a more seamless transition for companies to the new guidance, including the Simplified Effective Tax Rate Safe Harbor.

“Thank you to the administration for its commitment to these negotiations and for ensuring that American companies can compete on a level playing field and are not burdened by superfluous or duplicative requirements, and to Congress for their dedication to the success of American companies globally.

“NFTC looks forward to comprehensively reviewing the guidance from the OECD and will continue to participate in this process to minimize any unintended consequences resulting from the integration of the two systems.”

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About the NFTC

The National Foreign Trade Council (NFTC) is the premier business association advancing trade, tax, national security and supply chain policies that support access to the global marketplace. Founded in 1914, NFTC promotes an open, rules-based global economy on behalf of a diverse membership of U.S.-based businesses, who account for over $6 trillion in revenue and employ nearly 6 million people in the United States.

NFTC Outlines Priorities for USMCA Review

Posted on by Joe Locher

WASHINGTON, D.C. – National Foreign Trade Council (NFTC) Senior Director for Trade and Innovation Brad Wood today outlined NFTC’s priorities for the United States-Mexico-Canada Agreement (USMCA) during USTR’s hearing on the first joint review.

“As the United States continues to pursue a reset in trading relationships globally, the bedrock of U.S. competitiveness remains a strong and united North American marketplace—one that supports affordable domestic manufacturing and enables American firms to compete and win in global markets,” said Brad Wood in his testimony. “This success depends on an integrated North American framework grounded in stability, and that stability can only be ensured if all three governments stand firmly behind the agreement and move to renew the USMCA.”

“Whether we call this a review or a renegotiation, our priority is clear,” Wood added. “We urge the parties to engage in earnest to make the progress necessary that will enable each government to agree at the Joint Review to extend the agreement.”

NFTC’s full testimony can be found here.

NFTC’s full submission and priorities, upon which this testimony is based, can be found here.

Brad’s bio is available here.

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About the NFTC

The National Foreign Trade Council (NFTC) is the premier business association advancing trade, tax, national security and supply chain policies that support access to the global marketplace. Founded in 1914, NFTC promotes an open, rules-based global economy on behalf of a diverse membership of U.S.-based businesses, who account for over $6 trillion in revenue and employ nearly 6 million people in the United States.

Addressing Discriminatory Policies Should Be Top of Mind During USTR, Commerce EU Visit

Posted on by Joe Locher

WASHINGTON D.C. – National Foreign Trade Council (NFTC) Vice President for Global Trade Policy Tiffany Smith today issued the following statement:

“A strong U.S.-EU bilateral relationship is crucial to the success of American businesses, and Secretary Lutnick and Ambassador Greer’s trip to Europe next week comes at a pivotal moment. 

“Although the EU is one of our closest allies, we have been disappointed by the bloc’s continued commitment to its discriminatory digital sovereignty agenda and regulatory overreach of sustainability measures, including the Deforestation Regulation and Corporate Sustainability Due Diligence Directive (CS3D).”

“This Administration has had tremendous success in addressing discriminatory policies elsewhere, and we hope that finding a resolution to these issues tops next week’s agenda.”

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About the NFTC

The National Foreign Trade Council (NFTC) is the premier business association advancing trade, tax, national security and supply chain policies that support access to the global marketplace. Founded in 1914, NFTC promotes an open, rules-based global economy on behalf of a diverse membership of U.S.-based businesses, who account for over $6 trillion in revenue and employ nearly 6 million people in the United States.

NFTC Welcomes Introduction of Canada’s DST Repeal Legislation

Posted on by Joe Locher

Washington D.C. – National Foreign Trade Council (NFTC) Vice President for International Tax Policy Anne Gordon today issued a statement following the introduction of legislation in Canada to repeal its digital services tax (DST).

“We welcome the news that Canada is taking the necessary steps to fulfill its commitment from earlier this year by formally introducing legislation to repeal its DST – a move that will hopefully bring both countries closer as they continue their engagements across a number of multilateral and bilateral forums, including the first USMCA review.

“The Trump Administration and Congress have made it clear that they will not tolerate discrimination against American companies. We encourage countries that currently have or are considering these unprincipled measures to follow Canada’s lead.”

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About the NFTC

The National Foreign Trade Council (NFTC) is the premier business association advancing trade, tax, national security and supply chain policies that support access to the global marketplace. Founded in 1914, NFTC promotes an open, rules-based global economy on behalf of a diverse membership of U.S.-based businesses, who account for over $6 trillion in revenue and employ nearly 6 million people in the United States.

NFTC Statement on Senate Tariff Votes

Posted on by Joe Locher

Washington, D.C. – National Foreign Trade Council Vice President for Global Trade Policy Tiffany Smith released a statement following votes in the United States Senate to adopt resolutions to terminate tariffs imposed under the International Emergency Economic Powers Act (IEEPA):

“As we look ahead to oral argument on the IEEPA tariff cases at the Supreme Court next week, it is encouraging to see the Senate express its support for ending the three underlying national emergencies. 

“Regardless of how the Supreme Court may ultimately rule on the legality of the IEEPA duties, Congress has an obligation to embrace its Constitutional right to regulate tariffs and provide oversight, guidance, and guardrails for their use. Until that happens, American consumers, farmers, and small businesses will continue to bear the costs and uncertainty from the current wide-ranging imposition of tariffs.”

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About the NFTC

The National Foreign Trade Council (NFTC) is the premier business association advancing trade, tax, national security and supply chain policies that support access to the global marketplace. Founded in 1914, NFTC promotes an open, rules-based global economy on behalf of a diverse membership of U.S.-based businesses, who account for over $6 trillion in revenue and employ nearly 6 million people in the United States.

NFTC Statement on Rescission of WTO Funding

Posted on by Joe Locher

WASHINGTON, D.C. – National Foreign Trade Council (NFTC) Vice President for Global Trade Policy Tiffany Smith today issued a statement following the administration’s decision to cancel $29 million in U.S. funding for the World Trade Organization (WTO):

“We are disappointed that the administration has unilaterally decided to rescind funding for the WTO as well as other international organizations where the United States plays a leadership role. Despite its limitations, this organization provides an important forum to address irritants with our trading partners and to create and strengthen the rules in areas of critical importance to the U.S. business community, such as the recently-concluded Joint Statement Initiative Agreement on E-Commerce, advancements in trade facilitation, and the use and development of technical regulations.

“The United States benefits from taking an active leadership role in multilateral organizations. Pulling support from these organizations leaves a vacuum that other countries will be more than glad to fill. While we agree that reform is needed at the WTO, pulling back funding is not the way to create long-lasting change that supports U.S. competitiveness and our companies’ ability to operate globally.”

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About the NFTC

The National Foreign Trade Council (NFTC) is the premier business association advancing trade, tax, national security and supply chain policies that support access to the global marketplace. Founded in 1914, NFTC promotes an open, rules-based global economy on behalf of a diverse membership of U.S.-based businesses, who account for over $6 trillion in revenue and employ nearly 6 million people in the United States.

NFTC Statement on Federal Appeals Court Decision on IEEPA Tariffs

Posted on by Veronica Berkshire

WASHINGTON, D.C. – National Foreign Trade Council (NFTC) President Jake Colvin today issued a statement following the decision of the United States Court of Appeals for the Federal Circuit regarding the administration’s use of IEEPA to impose tariffs:

“It’s positive to see the appeals court confirm the lower court ruling that the administration wrongfully invoked IEEPA to implement global tariffs. However, it is still unclear whether businesses will see any relief from this decision as the appeals process continues.

“If these tariffs are ultimately struck down, it ought to serve as a wake up call for Congress to reclaim its constitutional mandate to regulate duties and bring some long-term certainty for U.S. businesses and relief for consumers. While the court’s ruling ought to serve as an opportunity for the administration to pivot, given the president’s affinity for tariffs as a trade and foreign policy tool, it’s likely they will seek to leverage other authorities to continue to impose high duties, limiting any relief for businesses and consumers.”

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About the NFTC
The National Foreign Trade Council (NFTC) is the premier business association advancing trade, tax, national security and supply chain policies that support access to the global marketplace. Founded in 1914, NFTC promotes an open, rules-based global economy on behalf of a diverse membership of U.S.-based businesses, who account for over $6 trillion in revenue and employ nearly 6 million people in the United States.

NFTC Urges Poland and Slovakia to Abandon DST Plans

Posted on by Joe Locher

Washington, D.C. – National Foreign Trade Council (NFTC) Vice President for International Tax Policy Anne Gordon today issued a statement condemning Poland and Slovakia’s consideration of new digital services taxes (DSTs):

“The NFTC strongly opposes DSTs. It is troubling that additional EU countries, particularly Poland and Slovakia, are considering moving forward with new DST proposals that disproportionately target U.S. companies. We strongly urge them–and other countries who currently have or are considering DSTs–to abandon these plans.

“These DSTs, if implemented, would harm U.S. companies’ ability to do business in these countries and potentially undermine their economic ties with the United States.”

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About the NFTC

The National Foreign Trade Council (NFTC) is the premier business association advancing trade, tax, national security and supply chain policies that support access to the global marketplace. Founded in 1914, NFTC promotes an open, rules-based global economy on behalf of a diverse membership of U.S.-based businesses, who account for over $6 trillion in revenue and employ nearly 6 million people in the United States.