Press Releases and Statements Archives - Page 13 of 106

New Global Innovation Forum Report Details How Digital Trade Empowers Small Businesses in the Indo-Pacific

Posted on October 13, 2022January 4, 2023 by Veronica Berkshire

Los Angeles — The National Foreign Trade Council (NFTC) Foundation’s Global Innovation Forum (GIF) today released a new report, “Making Small Businesses Mighty,” sharing insights from Indo-Pacific small businesses about the importance of digital trade and the potential impact of a digital trade agreement in the region.

Released alongside the first in-person Ministerial meeting of the Indo-Pacific Economic Framework (IPEF), the report explores how IPEF can establish a strong foundation to support small business exporters by establishing high-standard digital rules across the region. The report also highlights the biggest barriers currently faced by Indo-Pacific small exporters, from challenges navigating tariffs and customs procedures to regulatory uncertainty, and how IPEF would help alleviate many of them.

“IPEF offers an important opportunity to foster deliverables that support small business growth and resilience in the global marketplace,” said Jamaica Gayle, Executive Director, Global Innovation Forum. “Small businesses from the United States and across the Indo-Pacific see the economic potential of trade in the region, but need high-standard digital trade and trade facilitation commitments to make it easier for them to do business abroad.”

Key findings from the report include:

Small business exporters expect to see a 35% increase in export sales.
The U.S. economic output could increase by $72 billion, as a result of making it easier to access Indo-Pacific markets.
On average, Indo-Pacific small businesses surveyed would add 22 jobs to accommodate the increase in export sales over the next 3 years.

The conclusions in this report were derived from interviews with a select group of small businesses from across the region as well as a survey of 500 small businesses headquartered in seven Indo-Pacific markets: the United States, Australia, Indonesia, Japan, Singapore, South Korea, and Vietnam.

The full report can be found here: https://globalinnovationforum.com/reports/us-apac-small-business-digital-trade/

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About the Global Innovation Forum (GIF)
The Global Innovation Forum is a non-profit effort to connect small businesses and policymakers to foster an inclusive policy landscape that enables companies of all sizes to innovate, trade, and engage in the global economy. GIF works with a global network of thousands of small businesses, government officials, civil society, and private sector leaders to deliver actionable insights and impactful programs to emphasize how technology and trade policies can advance resilience and inclusive growth.

As an educational project of the 501(c)(3) National Foreign Trade Council Foundation, GIF connects small businesses and policymakers to bridge the gap between big-picture trade policy and the experiences of entrepreneurs, workers, and people.

www.globalinnovationforum.com

Statement from NFTC Chair Susan Schwab following meeting with WTO Director General

Posted on September 30, 2022November 2, 2022 by dcadmin

GENEVA – National Foreign Trade Council (NFTC) Board of Directors Chair Susan Schwab released the following statement following meetings with several NFTC Board Members and World Trade Organization (WTO) Director General Dr. Ngozi Okonjo-Iweala and other officials during the Geneva-based group’s annual Public Forum:

“The conversations in Geneva this week were reminders both of the serious geopolitical challenges we face and the role that trade policy can play in meeting them.

“NFTC is grateful for Dr. Okonjo-Iweala’s leadership at a critical time for the organization.

“Earlier this year, at the Ministerial, her leadership was essential in brokering consensus on key deliverables including the customs duty moratorium on digital trade and protecting fish stocks from harmful subsidies.

“This week at the Public Forum, the WTO demonstrated its central role in fostering conversations around critical business community priorities including strengthening supply chains, ensuring open markets, improving the e-commerce ecosystem, creating opportunities for small- and medium-sized business, and enabling a more inclusive global economy.

“We look forward to contributing to the conversation Dr. Okonjo-Iweala initiated at the Public Forum about new approaches to creating opportunities for greater engagement with the business community.”

During the Public Forum, Ambassador Schwab led an NFTC panel discussion on leaning into trade in the face of geopolitical challenges. NFTC Vice President Tiffany Smith spoke at an OECD-led panel on shedding new light on the evolving regulatory framework for digital services trade. Jamaica Gayle led a panel on behalf of the NFTC Foundation’s Global Innovation Forum on how digital transformations empower small businesses’ resilience in the Asia-Pacific.

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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.

NFTC Statement on Biden Administration Decision to Avoid Tariffs on Rare Earth Magnets

Posted on September 22, 2022January 4, 2023 by dcadmin

WASHINGTON DC – National Foreign Trade Council (NFTC) President Jake Colvin today issued a statement following reports that the Biden Administration has declined to impose tariffs on rare earth magnets:

“The Biden Administration made the right call today by declining to impose new tariffs on neodymium magnets. Tariffs would have done more harm than good, ultimately undermining the Administration’s efforts to create resilient supply chains while also punishing American manufacturers, which rely on neodymium magnets as an essential component in their products.

“Such tariffs would have diminished the competitiveness of American-made products containing these magnets and would have opened the door to retaliation against U.S. exports by our trading partners. Invoking national security as a justification to protect a few industries to the detriment of many others sets a bad example, and we appreciate the Administration’s decision not to do so.”

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Margaret Cekuta Joins NFTC as Senior Director for Trade and Innovation Policy

Posted on September 21, 2022January 4, 2023 by dcadmin

Washington D.C. – National Foreign Trade Council (NFTC) President Jake Colvin today announced that Margaret Cekuta has joined the NFTC as Senior Director for Trade and Innovation Policy.

She will serve as NFTC’s lead on digital trade, environment, health and intellectual property and spearhead the Council’s engagement with the Indo-Pacific.

Ms. Cekuta most recently worked at Capitol Counsel where she advised clients on a broad range of international trade issues. She previously served as Associate Chief of Staff at the Council of Economic Advisors and in several roles at USTR including Chief of Staff to the General Counsel.

“We are thrilled to welcome Margaret to our team,” said Colvin. “Her government and private sector experience on a range of critical trade, IP and technology issues will enable NFTC to expand its work in evolving areas of global economic policy involving health, environment, and digital and frontier technologies.”

Margaret’s full bio can be found below.

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Margaret Cekuta
Senior Director, Trade & Innovation Policy

Margaret Cekuta is Senior Director for Trade and Innovation Policy at the National Foreign Trade Council, the leading business association dedicated to advancing the interests of U.S. companies in international commerce.

Prior to joining the NFTC, Margaret was a principal at Capitol Counsel serving as a key member of their international trade team. She advised clients on a broad array of international economic and trade matters including the impacts of the Uyghur Forced Labor Prevention Act and tariffs imposed by the United States and trading partners. She also worked with companies in a broad array of industries from automotive to lumber.

Margaret previously served at the Council of Economic Advisers, where her portfolio focused on international trade, including the Section 301 investigation into China’s intellectual property practices, as well as pharmaceutical medicines and cyber issues.

Before joining CEA, Margaret worked for the Office of The United States’ Trade Representative, holding policy positions in the Office of Europe and the Middle East (EME) and the Office of the General Counsel (OGC). In EME, Margaret’s portfolio included Ukraine, Russia, and Germany. While in the OGC, Margaret was a key policy member focused on the economic cybertheft of trade secrets and the Section 301 investigation into China’s Intellectual Property Practices.

Margaret is a graduate of Georgetown University, where she received a BSFS from the School of Foreign Service as well as a Master’s of Liberal Studies. Her Master’s Thesis, The Benefits of Promoting Women-Owned Micro and Small Businesses Through the United States’ Trade Policy, earned the school’s Outstanding Student Award.

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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.

NFTC Outlines Business Priorities During OECD Tax Consultation

Posted on September 13, 2022October 11, 2022 by dcadmin

PARIS, FRANCE – National Foreign Trade Council (NFTC) Vice President for International Tax Policy Anne Gordon yesterday delivered remarks during the Organization for Economic Co-operation and Development (OECD) Consultation on Amount A of Pillar One.

“The NFTC has always stressed the importance of non-discriminatory tax practices that allow U.S. companies to fairly compete – and thrive – in international markets,” said Anne Gordon. “We are proud to continue working with the OECD and other international stakeholders to ensure that the new OECD tax framework creates a level-playing field for all of our companies.”

During her testimony, she highlighted the importance of continued work on:

Further clarification on the definition of ‘relevant similar measures;’
A principled agreement on withholding taxes;
Clarity on measures such as diverted profit taxes;
Removal of all DSTs and repercussions for those countries who impose new DSTs or unilateral measures; and
Rules regarding the imposition of sub-national taxes that may circumvent Pillar One.

The full testimony can be found here.

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NFTC Statement on IPEF Ministerial

Posted on September 9, 2022October 11, 2022 by dcadmin

LOS ANGELES – National Foreign Trade Council (NFTC) Vice President for Global Trade Policy Tiffany Smith today issued the following statement following the conclusion of the first Indo-Pacific Framework (IPEF) Ministerial in Los Angeles, California.

“We appreciate the roadmaps laid out by the United States and regional trading partners and congratulate Ambassador Tai and Secretary Raimondo for their leadership in Los Angeles. Now the hard work begins. We urge countries to quickly build on this momentum to negotiate towards commercially-meaningful commitments.

“As countries look towards short-term wins, there’s a real opportunity to develop robust commitments on digital trade and trade facilitation to maximize the benefits of the global digital economy for small businesses and workers and advance regional technology innovation.

“The business community is eager to engage with USTR, the Commerce Department and stakeholders in the region to provide advice and input as work on all aspects of this initiative continues. We also look forward to brainstorming complementary pathways to further the shared objectives identified in the IPEF declaration, including exploring the benefits of market access for advancing energy security and transition, supply chain resilience and a more inclusive digital economy.”

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NFTC Statement on Withdrawal from U.S. Tax Treaty with Hungary

Posted on July 12, 2022October 11, 2022 by dcadmin

WASHINGTON D.C. – National Foreign Trade Council (NFTC) President Jake Colvin released the following statement in response to reports that the United States would take steps to withdraw from the U.S. tax treaty with Hungary.

“Withdrawing from our bilateral tax treaty due to Hungary’s concerns with the EU Directive is counterproductive.

“The United States should want to be regarded as a reliable treaty partner, and these actions instead may erode the trust of other current and potential future partners.

“We strongly urge the Treasury Department to reconsider this decision, which creates uncertainty and harms businesses and workers in both countries, and to instead redouble efforts to work with the Senate to ratify the updated U.S.-Hungary Tax Treaty that remains pending.”

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Anne Gordon Joins NFTC as Vice President for International Tax Policy

Posted on July 12, 2022January 5, 2023 by dcadmin

Washington D.C. – National Foreign Trade Council (NFTC) President Jake Colvin today announced that Anne Gordon has joined the NFTC as Vice President for International Tax Policy.

Ms. Gordon most recently served as Tax Counsel in the office of Senator Rob Portman, where she advised the Senator on tax policy and served as liaison to the Senate Finance Committee.

Throughout her career, Anne has held various jobs in both the private and public sector, having previously served as Tax Counsel for Senator Young, Manager for Tax Services at PricewaterhouseCoopers and in a number of roles at the Departments of Energy and the Treasury.

“Anne’s deep international tax expertise and experience with politics and policy across the Federal Government and private sector will be an asset to NFTC and our member companies,” said Colvin. “We are thrilled that she will lead our international tax policy work.” Anne’s full bio can be found below.

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Anne Gordon
Vice President, International Tax Policy

Anne Gordon is Vice President 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.

Anne previously served in the U.S. Senate as Tax Counsel to two Senators Rob Portman and Todd Young of the Senate Finance Committee. During her time in the Senate, Ms. Gordon was one of the lead staff involved in drafting the tax provisions of the Infrastructure Investment and Jobs Act.

She has also worked in the International Tax Services practice of PwC’s National Tax Services office, where she gained experience on a wide array of U.S. international tax issues including cross-border mergers and acquisitions and issues arising in the context of anti-deferral regimes, including Sub-part F. She also advised clients on debt issuance and modification, foreign currency issues, treaty benefits, GILTI, section 163(j), FDII and BEAT.

She has also held several positions in the U.S. Departments of Energy and the Treasury and clerked at the U.S. Tax Court for Judges Tamara W. Ashford, Mark V. Holmes, Richard T. Morrison, and Robert A. Wherry, Jr.

Anne graduated from The George Washington University with a B.A. in Classical Studies and Political Science, and an M.P.P. focusing on business-government relations. She received her J.D. from Boston College Law School and her LL.M. in Taxation with a certificate in International Taxation from Georgetown University Law Center.

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Cross-Industry Statement on the Twelfth Ministerial Conference and the WTO Moratorium on Customs Duties on Electronic Transmissions

Posted on June 17, 2022October 11, 2022 by dcadmin

NFTC Statement on the 12th WTO Ministerial Conference

Posted on June 16, 2022October 13, 2022 by dcadmin

WASHINGTON DC – National Foreign Trade Council (NFTC) President Jake Colvin today issued the following statement following the conclusion of the World Trade Organization’s (WTO) 12th Ministerial Conference in Geneva:

“It is clear that there’s a tremendous need for a vibrant WTO that is able to tackle shared global priorities, but this ministerial laid bare the increasingly severe limits to meaningful outcomes that require unanimous agreement.

“Rather than digging into conversations about forward-looking solutions to pressing global challenges, ministers spent an alarming amount of time trying to prevent backpedaling on existing WTO rules at the behest of a small handful of countries.

“While we welcome the extension of the e-commerce moratorium, it’s beyond frustrating that officials spent the entire conference preventing its demise rather than looking ahead at how to further strengthen the global digital economy.

“The WTO also missed an opportunity to tackle genuine barriers to pandemic response, as officials largely focused on an inconsequential effort to create new exceptions to the global IP framework instead of aggressively pursuing robust commitments on trade facilitation, export restrictions and market access barriers.

“One bright spot was the agreement on fisheries subsidies, which is an important signal of the ability of trade policy to help address shared environmental challenges.

“We commend Director-General Dr. Okonjo-Iweala and those ministers who worked in good faith for their hard work to advance a positive agenda for the multilateral trading system.

“Looking ahead, it’s vital for the vast majority of WTO members who want to see the organization address shared priorities like e-commerce, supply chains, inclusive growth, climate and health pursue flexible pathways that foster commercially-meaningful outcomes and prevent any one member from obstructing progress.”

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