Category: Press Releases and Statements

NFTC Statement on the Administration’s Tariff Actions

Posted on by Veronica Berkshire

WASHINGTON, D.C. – National Foreign Trade Council (NFTC) President Jake Colvin released the following statement in response to the Trump Administration’s implementation of country-specific tariffs:

“This week’s trade deals and new tariff rates mark a significant inflection point for the Trump Administration’s trade policy. While it has been encouraging to see key U.S. trading partners to commit to remove some foreign trade barriers, a great deal of work remains to be done to make sure they deliver on those promises and to accelerate efforts to remove discriminatory measures that were not part of those initial understandings.  

“Whatever progress that’s ultimately achieved as part of these new trade deals will come at the steep price of significant U.S. tariff increases and the erosion of trust with America’s key partners. Institutionalizing the highest U.S. duties since the Great Depression, coupled with ongoing uncertainty, will ultimately make American businesses less competitive globally and consumers worse off while harming relationships with close geopolitical allies and trading partners. 

“We hope the Administration will continue working with our major trading partners to translate the initial deals they reached into durable results while looking for opportunities to reduce U.S. tariffs, eliminate key foreign trade barriers and restore predictability to trade.”

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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 EU Trade Deal

Posted on by Joe Locher

WASHIGTON, D.C. – National Foreign Trade Council (NFTC) Vice President for Global Trade Policy Tiffany Smith released the following statement in response to the Trump Administration’s announcement of a trade deal with the European Union.

“Any deal that begins to stabilize the tariff situation and avoids retaliation between the United States and Europe is welcome progress. However, this initial framework leaves in place a number of troubling EU policies, including an extensive discriminatory digital agenda, extraterritorial supply chain regulations, and unfair pharmaceutical reimbursement policies.

“Imposing a high 15% tariff rate on one of our largest trading partners, particularly on strategic sectors like aircraft and pharmaceuticals where a tariff-free environment has enabled industries to thrive on both sides of the Atlantic, may provide short term gains but will leave us isolated from a major ally and erode trust long term.

“We hope the Administration will continue to press the EU to dismantle its remaining discriminatory and unfair barriers and that further tariff reductions are applied if meaningful commitments are made on these issues.”

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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 Extension of Tariff Pause

Posted on by Joe Locher

WASHINGTON, D.C. – National Foreign Trade Council Vice President for Global Trade Policy Tiffany Smith released the following statement in response to the Trump Administration’s announcement extending the pause on country-specific tariffs through August 1.

“Extending the current pause on country-specific rates so that more deals can be reached is a welcome move, though it also prolongs uncertainty for American businesses. That uncertainty was further compounded today by President Trump’s suggestion of new 50% duties on copper and the potential for future tariffs on pharmaceuticals. High tariff rates, ongoing strategic uncertainty, and the tenuous nature of those deals that are negotiated continue to paralyze business decision-making while eroding trust with our allies and major trading partners.”

“We hope U.S. negotiators and America’s major trading partners will take this opportunity to reach durable deals and together restore predictability to trade.”

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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, Leading Industry Associations Urge Administration to Address Discriminatory Digital Policies in Europe

Posted on by Veronica Berkshire

The National Foreign Trade Council (NFTC) today joined leading industry associations in urging President Trump and his administration to address discriminatory digital policies as part of ongoing trade negotiations.

In a letter signed by 9 associations and sent to President Trump on July 3, the group welcomed reports that the administration is seeking commitment in several areas, such as the Digital Markets Act (DMA) but warned that “[a]ny deal that does not explicitly address these issues would provide tacit approval to the EU and other governments that they are free to continue targeting U.S. innovators with discriminatory regulations, taxes, and fines.”

“The Trump Administration has repeatedly expressed its commitment to ensuring U.S. companies are not disadvantaged abroad”, said Tiffany Smith, NFTC Vice President for Global Trade Policy. “We saw this commitment play out in the DST negotiation with Canada and we hope the Administration follows a similar path in its talks with the European Union where there are several regulations and taxes, not just in the digital space, that are discriminatory and unreasonably burdensome for U.S. companies.”

Read the full letter 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.

NFTC Welcomes Final Passage of Reconciliation Bill

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 final passage of the reconciliation bill:

“We are thrilled that the business and international tax provisions in the One Big Beautiful Bill will soon be a reality. We’d like to thank Speaker Johnson, the House leadership team and Chairman Smith for their efforts to ensure swift passage, and to President Trump and his team for their dedication to getting this bill to the finish line.

“The tax provisions in this bill establish long-term tax certainty that will allow our companies to be more productive, create more jobs, and make larger investments at home, and to be more competitive when doing business abroad.”

“We look forward to working with the administration to ensure effective implementation of the bill and to continue advocating for policies that achieve a pro-growth, globally-competitive tax system.”

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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 Senate Passage of Reconciliation Bill

Posted on by Joe Locher

WASHINGTON, DC – National Foreign Trade Council (NFTC) Vice President for International Tax Policy Anne Gordon today issued a statement following Senate passage of the reconciliation bill:

“We welcome Senate passage of the One Big Beautiful Bill. We would like to thank Leader Thune, Chairman Crapo, and the members of the Senate Finance Committee for their dedicated work in advancing the tax provisions of this legislation and for their commitment to the development of pro-growth U.S. tax policy.

“We welcome the Senate’s decision to retain core international and business provisions of the Tax Cuts and Jobs Act in its version of the bill, as well as including permanent immediate expensing of research and development and reinstating depreciation and amortization in the interest deduction limitation. We are also pleased to see the Senate make permanent the look-through for controlled foreign corporations and provide other long-needed international tax fixes for U.S. corporations.

“As the House considers the revised bill, we encourage swift consideration and passage of tax legislation that incentivizes investment, innovation, and global opportunity for America’s job creators.”

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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 Applauds Canada’s DST Decision, Urges Others to Follow

Posted on by Veronica Berkshire

Washington, D.C. – National Foreign Trade Council (NFTC) Vice President for Global Trade Policy Tiffany Smith today issued a statement following Canada’s decision to rescind its digital services tax (DST):

“We applaud Prime Minister Carney and Minister Champagne for their decision to halt today’s collection and bring forward legislation to rescind the digital services tax altogether. We also thank President Trump for standing up for American companies and competitiveness abroad.

“Following Canada’s decision, we urge the United States and Canada to intensify negotiations to reach a deal that strengthens our bilateral economic relationship and addresses tariff and non-tariff barriers by their July 21 deadline.

“The process that led us here sends a strong signal that this Administration is committed to ensuring non-discriminatory treatment of U.S. companies abroad. We urge other countries who currently have or are considering DSTs – including the UK and France- to follow Canada’s lead. It is critical that they rescind these discriminatory policies so that future negotiations do not get sidetracked and can focus on strengthening trade ties and economic competitiveness.”

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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 Joins Leading Industry Associations in Calling for Key Revisions to the Section 232 Inclusions Process

Posted on by Veronica Berkshire

WASHINGTON DC – The National Foreign Trade Council (NFTC) and  29 leading industry  associations are urging the Department of Commerce to improve  the Section 232 implementation process in order to minimize unintended consequences.

The letter requests that Commerce amend the 232 implementation process to address several specific issues, including:

  1. Extend time for public comment and hold a hearing;
  2. Limit scope within HTS numbers;
  3. Provide expanded, clear & transparent inclusion criteria and dismiss petitions that do not meet them; and
  4. Add a mechanism for removing derivative product designations if circumstances change.

“The associations that signed this letter support the administration’s goal of safeguarding national security and strengthening our production economy,” said Tiffany Smith, NFTC Vice President for Global Trade. “However, without clear and precise parameters, this process risks becoming a blunt instrument that undermines the innovation, national resilience, and manufacturing strength it aims to protect.

“This is a critical moment to get the balance right,” added Smith. “We urge Commerce to adopt a transparent, targeted, and responsive framework. A well-calibrated approach, informed by ongoing industry engagement, will avoid unnecessary harm to U.S. competitiveness and advance the shared goals of Commerce and U.S. industry.”

Full text of the letter can be found 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.

Time is Running Out to Stop Canada’s Cash Grab

Posted on by Joe Locher

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

“In just two weeks, U.S. companies will have to pay the Canadian government a 3% retroactive tax on their digital activities going back to January of 2022. Estimates suggest that the total amount Canada stands to collect by this date could surpass CAD $3 billion, most of which will be paid by American companies.

“As President Trump and Prime Minister Carney meet in Canada for the G7, we urge them to work together and quickly come to an agreement that reinvigorates our bilateral economic relationship. Critically, such an agreement must resolve the issue of Canada’s DST before the June 30 payment deadline.”

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About the NFTC

The National Foreign Trade Council (NFTC) is the premier business association advancing trade and tax 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.

Evolving Global Tax Rules Drive New Tax Treaty Priorities, NFTC Survey Finds

Posted on by Veronica Berkshire

Washington D.C. – The National Foreign Trade Council (NFTC) today released results from its annual Tax Treaty Survey. The survey, which was answered by tax professionals from NFTC member companies, asked businesses to rate their tax treaty priorities around the world.

“As global tax rules evolve and more countries implement new tax regimes, companies need certainty and streamlined taxation now more than ever,” said Anne Gordon, NFTC Vice President for International Tax Policy. “Tax treaties are not only essential for business planning, but they reinforce America’s position as a leader in international tax cooperation and economic competitiveness. Expanding and modernizing the U.S. tax treaty network will provide a foundation for long-term investment and cross-border growth.”

Highlights of this year’s survey include:

  • Switzerland was the country most frequently identified as the top priority for respondents.
  • For Switzerland, reducing withholding rates on dividends was the most important tax treaty negotiation item, followed by Limitation on Benefits (LoB) and Mutual Agreement Processes (MAP).
  • Taiwan was identified second most frequently as a top priority, followed by a group comprising Brazil, Israel, Italy, Saudi Arabia and Singapore.
  • Brazil retained its place atop the list of highest overall priority, receiving the most total mentions.
  • For Brazil, Transfer Pricing remained the greatest concern for respondents.
  • Singapore and India rounded out the top three highest overall priority countries. Switzerland, Israel and Saudi Arabia were also mentioned as high overall priority countries.
  • In total, respondents requested treaties with 29 countries.

Read the full results of the 2025 Tax Treaty Survey here.

An infographic of the most requested countries can be found here.

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About the NFTC
The National Foreign Trade Council (NFTC) is the premier business association advancing trade and tax 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.