Category: Press Releases and Statements

NFTC Welcomes WTO Agreement on Global Services Regulation

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Washington D.C. – National Foreign Trade Council (NFTC) President Jake Colvin today issued a statement following the successful conclusion of the World Trade Organization (WTO) Joint Statement Initiative on Services Domestic Regulation:

“The successful conclusion of the WTO Joint Statement Initiative on Services Domestic Regulation is an important accomplishment that improves transparency, legal certainty and fairness in rulemaking and licensing processes while slashing costs for businesses.

“It’s also a welcome sign that the WTO can serve as a flexible forum to address shared priorities among innovative economies.

“This agreement will strengthen the U.S. services industry, which accounts for more than two-thirds of U.S. GDP and supports 80 percent of private-sector jobs. Foreign sales of U.S. services are estimated at $2.5 trillion, including cross-border exports from the U.S. and services sales by foreign affiliates of U.S. companies.

“We applaud the U.S. Government for their leadership in bringing the negotiations to a successful conclusion, and to proponents including the Government of Australia for their commitment to transparency and fairness.”

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About the NFTC
Serving America’s Global Businesses Since 1914 – The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules- based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves 100 member companies through its office in Washington D.C.

NFTC Statement on Infrastructure Bill

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Washington D.C. – National Foreign Trade Council (NFTC) President Jake Colvin today issued a statement following the enactment of the Bipartisan Infrastructure Framework (BIF):

“We applaud Congress and the Administration for strengthening our country’s infrastructure. Improving our country’s roads, bridges, ports and digital infrastructure will make American workers and companies of all sizes more competitive in the global economy.

“As this work begins and new initiatives take shape, the United States has an opportunity to send a signal to the world that our country is open for business and ensure that America’s workers and businesses can compete on a level playing field globally.

“We urge Congress and the Administration to ensure that U.S. procurement policies and incentives comply with the international rules and obligations that the United States helped write.”

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About the NFTC
Serving America’s Global Businesses Since 1914 – The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules- based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves 100 member companies through its office in Washington D.C.

Jamaica Gayle Appointed Global Innovation Forum Executive Director

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Washington D.C. – National Foreign Trade Council (NFTC) President Jake Colvin today announced the appointment of Jamaica Gayle as Executive Director of the NFTC Foundation’s Global Innovation Forum (GIF) as of November 1, 2021.

“I am thrilled that Jamaica will serve as GIF’s Executive Director.

“In her time as Deputy Director, she played a pivotal role in elevating the opportunities and challenges small businesses face in the global economy.

“I am confident that as Executive Director she will continue to be an outstanding champion for the needs of globally-minded small businesses and an advocate for the importance of technology and trade policies in fostering resilience and inclusive growth in communities around the world.”

Jamaica previously served as Deputy Director of GIF. She succeeds Jake Colvin, who stepped down when he became President of NFTC on October 1, 2021.

To read her full bio, click here.

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About the NFTC
Serving America’s Global Businesses Since 1914 – The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules- based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves 100 member companies through its office in Washington D.C.

About the Global Innovation Forum
The Global Innovation Forum is a nonprofit effort to connect startup, small business, development, and university communities with policymakers and select corporations to explore the opportunities and challenges of engaging in the global marketplace. GIF serves as a hub for business, university and development communities around the world to communicate with officials and corporations, discover public and private resources to help them succeed, and improve the public policy landscape to enable global innovation. GIF is a project of the 501(c)(3) National Foreign Trade Council Foundation. For more information about GIF, visit the website at www.globalinnovationforum.com.

TRC Statement on U.S.-EU Tariff Agreement

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WASHINGTON D.C. – The Tariff Reform Coalition (TRC) today issued the following statement following the joint statement from the U.S. and EU regarding a resolution to Section 232 tariffs on steel and aluminum:

“The announcement by the United States and EU finally addresses the Section 232 tariffs – and the corresponding retaliatory actions – which have been in place since March 2018” said Jake Colvin, President of the National Foreign Trade Council (NFTC). “The deal should serve to ratchet down trade tensions between the United States and Europe and clear the decks for more productive and forward-looking transatlantic conversations.

“While the announcement is a step in the right direction, it’s not an optimal outcome. The reliance on TRQs is an unwelcome form of managed trade that will continue to bring about uncertainty for workers and businesses on both sides of the Atlantic,” added Colvin. “Mechanisms such as these that manage international trade undermine competitiveness, create winners and losers, add significant supply chain costs and disproportionately affect small and medium sized companies.

Colvin also added that members of the coalition “remain hopeful that the U.S. will work with all of America’s allies to reach a durable solution to these tariffs that supports the export competitiveness of American manufacturers, farmers and ranchers.”

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About the NFTC
Serving America’s Global Businesses Since 1914– The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules- based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves its member companies through its office in Washington D.C.

NFTC Statement on DST Agreement

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WASHINGTON D.C. – National Foreign Trade Council (NFTC) President Jake Colvin released the following statement in response to the compromise by the United States, Austria, France, Italy, Spain, and the United Kingdom regarding the removal of digital services taxes (DSTs):

“This compromise is a welcome step towards removing discriminatory unilateral services taxes from the global tax landscape and ratcheting down global trade tensions.

“NFTC appreciates the efforts of Treasury Secretary Janet Yellen and U.S. Trade Representative Katherine Tai and the ongoing attention of the U.S. Government to removing this patchwork of measures.

“It’s critical for the Biden Administration to continue to prioritize the complete removal of these unilateral measures, including those implemented or under consideration by other jurisdictions not subject to the announcement, to avoid further fracturing of the global tax system and trade frictions.”

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About the NFTC
Serving America’s Global Businesses Since 1914– The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules- based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves its member companies through its office in Washington D.C.

NFTC, USA*Engage Welcome Treasury 2021 Sanctions Review

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WASHINGTON D.C. – The National Foreign Trade Council (NFTC) and USA*Engage today released the following statement in response to the Department of the Treasury review of U.S. sanctions and recommendations to maximize their effectiveness and minimize unintended consequences:

“Too often, the United States has used sanctions as a blunt instrument,” said Jake Colvin, President of the NFTC. “NFTC commends the Treasury Department for a thoughtful analysis of the benefits, limits and best practices that ought to govern U.S. sanctions.”

“Sanctions ought to be multilateral when possible, targeted towards a specific and achievable goal and reversible,” added Richard Sawaya, Vice President for USA*Engage, a longstanding coalition founded under NFTC to seek alternatives to the proliferation of unilateral U.S. foreign policy sanctions and to promote the benefits of U.S. engagement abroad. “If implemented, Treasury’s recommendations would substantially de-politicize sanctions and clarify their place in the conduct of U.S. foreign policy,” Sawaya added.

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About the NFTC
Serving America’s Global Businesses Since 1914– The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules- based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves its member companies through its office in Washington D.C.