Category: Press Releases and Statements

USMCA is Critical to American Competitiveness

Posted on by Veronica Berkshire

WASHINGTON, D.C. – National Foreign Trade Council (NFTC) Senior Director for Trade and Innovation Brad Wood today issued the following statement, on the date of the first United States-Mexico-Canada Agreement (USMCA) Joint Review:

“The integrated North American marketplace created by USMCA is the bedrock of U.S. competitiveness, delivering affordable domestic manufacturing and enabling American firms to compete and win in global markets.

“As negotiations continue beyond today’s formal review date, the NFTC urges all three governments to work trilaterally to address the remaining barriers and prioritize renewal of the agreement to restore the stability, predictability, and rules-based framework that the USMCA provides to U.S. businesses, workers, 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 Cautions Utility of Public CbCR Reports

Posted on by Veronica Berkshire

Today, the first Public Country-by-Country reports are due in Australia and Europe for fiscal year taxpayers with a June 30 year-end. Calendar-year taxpayers will submit reports by December 31, 2026. These reports are separate from confidential Country-by-Country reports, which companies have submitted to tax authorities for several years.

While both the Australian and European regimes aim to increase transparency, they are based on different legal frameworks and reporting rules that limit comparability. The starting point for each of these reports is financial accounting data, but there are several differences and required adjustments that could lead to misinterpretations about the actual economic activity occurring in a particular country. For example, reported revenue amounts may double count intra-company sales common in complex multinational supply chains, leading to artificially inflated revenues. Country-by-Country reports also do not take into account routine tax outcomes, such as refunds from prior-year overpayments, audit adjustments, or the use of loss carryforwards, which may create volatility in reported tax paid that does not reflect current-year activity.

Furthermore, these reports do not reconcile with U.S. financial reporting, which uses other standards and rules. As a result, Country-by-Country reports may create confusion if viewed without the proper context. Accordingly, stakeholders, including lawmakers, should exercise caution when drawing conclusions based on comparing data across jurisdictions or to financial reporting metrics.

More Information

More details about Australia’s reporting requirements can be found here.

For more details about reporting in the European Union, please see EU Directive 2021/2101.

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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 DMA Decision

Posted on by Veronica Berkshire

WASHINGTON, D.C. – National Foreign Trade Council (NFTC) President Jake Colvin today issued a statement following the EU’s preliminary designation of two American cloud providers as gatekeepers under the European Union’s (EU) Digital Markets Act (DMA):

“The preliminary view announced by the European Commission that Amazon Web Services (AWS) and Microsoft Azure (Azure) should be designated as gatekeepers under the DMA is yet another effort to target and disadvantage successful U.S. companies in the EU market.

“Moving ahead with this investigation even when DMA gatekeeper thresholds are not met is baffling and shows the Commission can simply hand-pick leading U.S. companies for regulation under the DMA whenever it chooses.

“Key issues raised by the Commission in this designation, such as the ability for cloud service clients to switch providers, data portability, and interoperability are already regulated by the EU Data Act.

“This designation will not just harm American companies by increasing costs and compliance burdens in the U.S., it will also negatively affect investment and innovation in Europe and EU customer’s access to these services.

“This decision – ironically announced on the same day EU member states approved tariff cuts under the U.S.-EU Joint Statement on reciprocal balanced trade – shows that there is still significant work to be done to ensure U.S. companies face a level playing field in Europe. We urge the administration to engage with the EU to prevent this unnecessary and discriminatory designation.”

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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 Customs Enforcement Executive Order

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 on the administration’s “Strengthening Customs Enforcement” Executive Order:

“While we welcome the administration’s focus on strengthening supply chains and improving customs enforcement, those objectives must not come at the expense of facilitating low-risk, lawful trade. We are concerned that several provisions in the Executive Order may have unintended consequences that could harm trade facilitation efforts.

“The changes made by the E.O. will increase both the cost and complexity of importing goods into the United States. In particular, the new rules for foreign importers of record (IORs), including a prohibition on filing informal customs entries, will have an outsized effect on business-to-consumer e-commerce transactions where the seller is located abroad and the consumer is in the United States.

“In addition, the E.O. greatly restricts U.S. Customs and Border Protection’s (CBP) ability to use discretion in assessing penalties for customs violations by requiring CBP to require payment of at least 50% of any customs penalty, even for minor errors.

“These changes in combination will significantly increase demand for U.S. IORs, while also raising their exposure to enforcement risk, with the likely result being increased costs for IOR services, shortages of willing U.S. IORs, or both.

“To minimize the disruption of legitimate trade, we urge the administration to carefully consider these actions and to have an open and robust stakeholder input process, including notice-and-comment rulemaking.

“Customs enforcement is most successful when the private and public sectors work together, and the NFTC is ready to help the administration fulfill its goals and strengthen both trade facilitation and customs enforcement in a way that supports lawful trade for U.S. businesses of all sizes.”

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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.

Gary Haglund Joins NFTC as Senior Director for International Tax Policy

Posted on by Veronica Berkshire

Washington D.C. – The National Foreign Trade Council (NFTC) today announced that Gary Haglund has joined the NFTC as Senior Director for International Tax Policy.

He will join NFTC’s tax team, which works to ensure the development of tax policies that strengthen U.S. companies’ competitiveness abroad and spur economic growth and job creation.

“Gary brings a wealth of experience working with Congress and the private sector to his role,” said NFTC President Jake Colvin. “His addition to our team will allow us to grow the NFTC’s work across the international tax space at a time when companies are looking at a multitude of challenges globally.”

Gary previously served as Director of Federal Affairs at Auto Innovators and policy advisor for Senator Bill Cassidy.

His full bio can be found here and below.

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Gary Haglund
Senior Director, International Tax Policy

Gary Haglund is Senior Director for International Tax Policy at the National Foreign Trade Council, the leading business association dedicated solely to advancing the interests of U.S. companies in international commerce.

Before joining the National Foreign Trade Council, Gary led federal advocacy efforts on tax, trade, and industrial policy for the main trade association representing the automotive industry.

He also worked in the United States Senate for Senator Bill Cassidy handling tax and trade issues for the Senator’s Senate Finance Committee assignment. He also led federal and state tax and financial services policy for a grassroots advocacy organization and served as policy advisor for the House Committee on the Budget.

Gary graduated from Ashland University with a B.A. in political science and history. He received his M.A. in political science from Boston College.

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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 Foundation Names Scott Oakley as Managing Director

Posted on by Veronica Berkshire

WASHINGTON, D.C. – National Foreign Trade Council (NFTC) Foundation President Demetrios Marantis today announced that Scott Oakley has been named Managing Director of the NFTC Foundation.

In this new role, Scott will be tasked with growing the Foundation’s nationwide footprint and educational role as policymakers and industry consider what’s next for U.S. trade and investment policy. He will advance its role as a trusted convener for the trade, tax, supply chain, and national security communities in D.C. and around the country.

“I am thrilled that Scott will be leading the Foundation in this new era,” said Marantis. “We are living through a time of rapid policy evolution, and I am excited about the role that the Foundation can play under Scott in driving conversations about the future of American economic leadership.”

Oakley previously served as Acting Head of Border Strategy at the United Kingdom’s Cabinet Office, where he led post-Brexit border strategy for goods imports.

Read his full bio here.

About the NFTC Foundation

The NFTC Foundation is committed to promoting education and engagement around the critical role of trade and investment in driving economic growth and opportunity. Its major activities include hosting the annual World Trade Dinner, the International Tax Conference, and other high-impact educational events along with supporting and disseminating research and data about the opportunities and challenges of engaging in the global marketplace. The Foundation also houses the Global Innovation Forum (GIF), which elevates the voices of small businesses and entrepreneurs in the policy landscape by fostering meaningful connections with government officials, civil society, and private sector leaders. Through educational events, thought leadership, and collaboration with business, nonprofit and government stakeholders worldwide, the Foundation plays a pivotal role in advancing a robust and inclusive global trade system.

Scott Oakley Biography

Scott Oakley is Managing Director of the National Foreign Trade Council Foundation, the research and education affiliate of the National Foreign Trade Council, with a mission to inspire, promote, and encourage international trade and investment.

Scott Oakley previously served as Acting Head of Border Strategy at the United Kingdom’s Cabinet Office, where he led post-Brexit border strategy for goods imports.

As a Senior Policy Advisor in the UK Government, he oversaw campaigns to prepare British exporters for EU exit and the implementation of risk-based border controls on EU imports. He also served as a Senior Analyst for Cross-Whitehall Intelligence and Data Gathering.

More recently, Scott received the McCourt Scholar Award to pursue a Master of Public Policy at Georgetown’s University McCourt School of Public Policy. While pursuing his master’s, he was a Fellow at the National Foreign Trade Council, supporting NFTC’s trade and tax portfolios.

Scott comes from Manchester, England, and holds a bachelor’s degree from the University of Oxford.

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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.

2026 Tax Treaty Survey Highlights U.S. Business Priorities

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.

“Tax treaties are essential for U.S. businesses, and we are thankful that Treasury is already working on advancing some of these priorities,” said Anne Gordon, NFTC Vice President for International Tax Policy. “Expanding the U.S. Treaty network and ensuring that treaties that are in place are working as intended are both critical. We encourage Treasury to continue this work and to focus on the concerns and countries highlighted in this survey.”

Highlights of this year’s survey include:

  • Switzerland once again topped the list, being identified as a top priority most often by respondents. Withholding tax rates on Dividends were, by far, the most important tax treaty negotiation item, followed by Limitation on Benefits (“LoB”) and withholding tax rates on Interest.
  • Brazil was identified as a top priority second most often by respondents, who cited that withholding rates on Royalties and Dividends were their top priorities in the country.
  • The next tranche of countries listed as a top priority for respondents consisted of Canada and Taiwan, and the final tranche included Hungary, Malaysia, Saudi Arabia, and the United Kingdom.
  • Switzerland followed by Brazil also received the overall highest number of votes.
  • In total, respondents requested negotiations with 25 countries.

Read the full results of the 2026 Tax Treaty Survey here.

An infographic of the survey results 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.

NFTC Welcomes New Direction for Canada’s Streaming Law

Posted on by Veronica Berkshire

WASHINGTON, D.C. – National Foreign Trade Council (NFTC) Senior Director Brad Wood today issued a statement following Canada’s decision to set new policy direction for the Canadian Radio-television and Telecommunications Commission’s (CRTC) implementation of the Online Streaming Act:

“We welcome Canada’s decision to change course on the CRTC’s implementation of the Online Streaming Act, which would have been greatly detrimental to American companies’ ability to do business in the Canadian market. Today’s decision also reflects that if targeted funding to support Canadian content is needed, it should come from the Canadian government, not U.S. companies.

“This change is a step in the right direction, and we look forward to engaging the government as it develops a new policy direction for the CRTC.”

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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.

Brazil 301 Remedy Must Address U.S. Business Concerns

Posted on by Veronica Berkshire

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

“The bilateral trade relationship with Brazil is important for the success of U.S. businesses operating in both countries, but it is also one of the world’s most challenging markets. We appreciate USTR’s recognition of the harm that the country’s practices covered in the Section 301 determination have on U.S. companies and its effort to address them through this investigation.

“On digital trade, Brazil has advanced or considered several discriminatory digital policies beyond those covered by USTR’s determination, including proposals for ex ante digital competition regulations, an artificial intelligence (“AI”) bill, network usage fees, data center regulations, online marketplace liability requirements, and a digital services tax (DST).

“Brazil has also consistently stood in the way of multilateral progress at the World Trade Organization (WTO) on digital issues, including its recent objection at MC14 to a permanent customs duty moratorium.

“Beyond digital policies, the country’s poor track record of protecting intellectual property rights, including patent delays, inadequate data protection, and inappropriate use of compulsory licensing, is reflected in its nearly 20-year status on the Special 301 Watch List.

“We are hopeful that this process and subsequent bilateral conversations will help address many of these issues. The final Section 301 remedy should be designed to ensure Brazil effectively addresses these concerns. If the end result is persistent broad-based tariffs on Brazilian imports while these barriers remain, that’s not a good result of this process.”

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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.

232 Tariffs Will Slow Manufacturing, Harm National Security

Posted on by Veronica Berkshire

National Foreign Trade Council (NFTC) Vice President for National Security Policy Jeannette Chu today issued the following statement:

“With several Section 232 decisions on the horizon, we remain concerned with the effects that broad, and potentially stacking, tariffs that could be prescribed through these national security investigations would have on domestic manufacturing. Tariffs on industrial equipment, parts and components for robotics, medical devices, and derivative semiconductor products would threaten the competitiveness of America’s most dynamic industries at a time when many companies are building factories and investing in capital equipment.

“The NFTC shares the administration’s goal to strengthen domestic manufacturing capacity and ensure American leadership in advanced technologies. However, broad tariffs on these sectors are likely to undermine the very goals this administration has championed by constraining manufacturing and introducing uncertainty that slows domestic investment and growth in production capacity.

“Several Section 232 investigations have resulted in a mix of tariff and non-tariff measures. Twenty-five percent tariffs on an extensive list of finished downstream steel and aluminum products, including many machinery products, have already negatively affected domestic manufacturing.

“Rather than tariffs, we urge the administration to pursue policies that support American industry and strengthen our national security by maintaining access to critical inputs and technologies from trusted partners and include incentives to boost R&D, workforce development, and advanced manufacturing.”

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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.