Category: Press Releases and Statements

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.

TRC Welcomes Legislation to Reassert Congressional Authority Over Tariffs

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Washington D.C. – The Tariff Reform Coalition (TRC) today welcomed Senators Pat Toomey (R-PA) and Mark Warner’s (D-VA) continued efforts to reassert Congressional authority over Section 232 tariffs with the re-introduction of the Bicameral Congressional Trade Authority (BCTA) Act. TRC supports greater Congressional oversight over national security trade actions and urges Congress to move swiftly on this legislation.

“The TRC, and its predecessor ACSAT (the Alliance for Competitive Steel and Aluminum Trade), have long supported legislation that reasserts Congressional authority over trade,” said NFTC President Jake Colvin. “Over the past few years we have seen how harmful tariffs can be for industries all across the U.S. economy, and it is past time that Congress moves to ensure that such actions are taken only when necessary to protect our national security and after having consulted with the industries that would be most affected.”

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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 U.S.- China Policy

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WASHINGTON D.C. – National Foreign Trade Council (NFTC) President Jake Colvin today issued the following statement following United States Trade Representative (USTR) Katherine Tai’s speech at CSIS outlining the Biden Administration’s China policy: “What’s clear is that the Biden Administration recognizes that decoupling is not an option for the world’s two largest economies.

“It’s encouraging to see Ambassador Tai articulate the outlines of a comprehensive strategy to engage China firmly and directly while giving American businesses and workers the tools they need to compete effectively in the global marketplace.

“The Biden Administration has a real opportunity to work with key allies on a strategy to address shared concerns around national security, industrial subsidies, state owned enterprises and overcapacity while pulling back from ineffective unilateral tariffs that never provided the intended leverage.

“In the short term, it is important for USTR to press ahead with a robust tariff exclusion mechanism that provides some relief to industries buffeted by the effects of the pandemic and supply chain shortages.”

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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 Welcomes Inaugural Meeting of U.S.-EU Trade and Technology Council

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Jake Colvin, Incoming President of the National Foreign Trade Council (NFTC), released the following statement as the first meeting of the U.S.-EU Trade and Technology Council (TTC) began in Pittsburgh on September 29:

“The NFTC welcomes the first meeting of the TTC, which offers a unique opportunity to boost EU-U.S. economic competitiveness while setting global standards based upon shared values and principles of fair treatment and non-discrimination.

“The United States and the EU should utilize the TTC to seek concrete deliverables on shared priorities that reflect lessons learned from COVID-19 and benefit businesses, workers and consumers across the Atlantic.

“It is particularly critical for the two sides to ensure that digital regulations are rooted in core transatlantic principles of non-discrimination; protection of privacy, security, and intellectual property; and due process; and benefit from meaningful regulatory dialogues and input.

“The TTC is also a chance for the United States and the EU to recommit to uphold and promote shared principles and values globally. The two sides should utilize the TTC to shape global norms on priorities including data flows, industrial subsidies, secure and resilient global supply chains and export controls, and to jointly address growing digital protectionism.

“The business community is looking for tangible outcomes from this initiative and stands ready to engage with public and private sector stakeholders to make the TTC a success.”

This statement follows on the release last week of recommendations to promote small business access to digital technologies through the TTC by the NFTC Foundation’s Global Innovation Forum and Allied For Startups, which can be found 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 its member companies through its office in Washington D.C.

NFTC Welcomes Sarah Bianchi’s Confirmation as Deputy USTR

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Washington D.C. – National Foreign Trade Council (NFTC) President Rufus Yerxa today issued a statement following the confirmation of Sarah Bianchi as Deputy USTR:

“I’m happy to see the Senate responding to the calls for speedy confirmation of Sarah Bianchi as USTR’s second Deputy in Washington. We hope they’ll also act quickly in confirming the remaining nominees, including Maria Pagan for the critical role of Geneva Deputy.”

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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 Welcomes Jayme White’s Confirmation as Deputy USTR

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Washington D.C. – National Foreign Trade Council (NFTC) President Rufus Yerxa today issued a statement following the confirmation of Jayme White as Deputy USTR:

“It’s great news that Jayme White has been confirmed. There is far too much work to do on the trade front to have empty seats at USTR. The Senate should act quickly and confirm the remaining USTR nominees so the Biden Administration can successfully confront the trade challenges we face.”

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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.

Jake Colvin Appointed New NFTC President

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Washington D.C. – The National Foreign Trade Council (NFTC) Board of Directors today announced that NFTC Vice President Jake Colvin will serve as the organization’s new President effective October 1st. Mr. Colvin will replace Rufus Yerxa, who has served as President since 2016.

Following the appointment, Katie Hays, Director, International and Federal Government Affairs, Caterpillar Inc., and Penny Naas, President, International Public Affairs and Sustainability for UPS, who co-chaired the search committee, issued the following statement on behalf of the Board:

“The NFTC Board of Directors is extremely pleased that Jake Colvin will be serving as our next President. His appointment follows an exhaustive search process, during which the Board concluded that Jake, who has played a pivotal role as Vice President over many years, is the right choice to continue NFTC’s mission to advance international trade and tax policies. We want to express our deep gratitude to Rufus for his outstanding record of leadership and his invaluable service to our members and to the Washington trade community during his tenure.”

“I am thrilled that the NFTC Board has selected Jake Colvin as the next President,” said Rufus Yerxa. “Jake has been a huge asset to the organization for many years and nobody else knows its mission better. During my Presidency I relied heavily on his leadership role in areas ranging from China issues and WTO reform to e-commerce and global innovation. I have no doubt that NFTC’s leadership and influence in these and other areas will continue growing through Jake’s efforts.”

As Vice President, Jake has led the Council’s work to modernize trade rules for the digital age and its engagement with multilateral organizations. As Executive Director of the Global Innovation Forum (GIF), he has worked to create a global hub connecting startup, business, education and nonprofit leaders to discuss international trade.

Jake’s full bio can be found 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 its member companies through its office in Washington D.C.

TRC Supports U.S. – EU Effort to Settle Trade Disputes and Reverse 232 Tariffs

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Washington D.C. – The Tariff Reform Coalition (TRC), a broad alliance of business and agriculture groups seeking the reversal of Section 232 Tariffs and other recent tariff actions harmful to U.S. manufacturers and exporters, issued the following comments on the outcome of yesterday’s U.S. – EU Summit:

“Our coalition strongly supports the agreement to suspend all tariffs associated with the civil aircraft dispute for the next 5 years while the two sides work out a more permanent solution,” said Rufus Yerxa, President of the NFTC. “It is also welcome news that conversations will continue to take place on the Section 232 steel and aluminum tariffs. However, we are disappointed that the two sides were not more proactive in putting in place a more rapid suspension of all tariffs related to the steel and aluminum dispute. The case for doing so is just as strong as for the aircraft sector.

“The evidence of harm to our own economy from the steel and aluminum tariffs is substantial – manufacturers are struggling to find materials to make products in the U.S., farmers and ranchers are having a hard time exporting their goods to countries that have imposed retaliatory tariffs and consumers are seeing higher prices for everyday goods,” Yerxa added.

“In addition to ending this self-inflicted damage, there is the broader importance of working together with Europe to strengthen the transatlantic marketplace and close ranks in dealing with China’s unfair policies and practices – a major source of concern on both sides of the Atlantic. We cannot achieve a true partnership with the EU in these areas if we insist upon prolonging unjustified tariff actions.”

In March of this year, the group released an advocacy paper (linked here), which outlines recommendations for the Biden Administration — beginning with the immediate roll back of tariffs on steel and aluminum. The TRC looks forward to working with policymakers and other stakeholders to identify and implement WTO compliant measures to address the legitimate concerns around China’s unfair trade practices.

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Tech and Trade Groups Urge Countries to Pursue Ambitious Services Market Access Commitments in WTO Joint Statement Initiative on E-Commerce

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WASHINGTON — Today, global tech trade association ITI and the National Foreign Trade Council (NFTC) urged governments participating in ongoing World Trade Organization (WTO) Joint Statement Initiative (JSI) Negotiations on E-Commerce to prioritize progress on advancing services market access commitments across key sectors.

In a new paper, “The Case for Ambitious Services Market Access Commitments as Part of the WTO Joint Statement Initiative on E-Commerce,” NFTC and ITI wrote, “The evolving nature of digital services, along with the digital and physical infrastructures enabling the provision of such services, suggests that even the most forward-looking rules-based commitments … must be accompanied by robust market access commitments that provide necessary certainty to businesses and individuals alike.”

“Beyond creating a necessary underpinning for modern rules-based digital trade, the establishment of binding market access commitments in the context of JSI negotiations that expand upon those in the General Agreement on Trade in Services (GATS) would directly contribute to the broader and more equitable distribution of benefits stemming from policies that promote open digital trade,” the groups observe.

In the paper, ITI and NFTC point to benefits of expanded services market access commitments, including:

  • Services market access openings disproportionately benefit small- and medium-sized enterprises (SMEs);
  • Coordinated services liberalization benefits developing economies and least developed countries (LDCs);
  • Increased services trade opportunities make for a more inclusive trading system; and
  • Binding services market access commitments secure necessary certainty for all trade in the 21st century.

In addition, as a component of broadening the application of good regulatory practices to key services sectors, the associations encourage negotiators to develop and expand provisions that extend technical barriers to trade (TBT)-style commitments to digital services, including as regards regulatory reliance on international standards and the promotion of interoperable frameworks.

Read the full paper here.

About ITI: The Information Technology Industry Council (ITI) is the premier global advocate for technology, representing the world’s most innovative companies. Founded in 1916, ITI is an international trade association with a team of professionals on four continents. We promote public policies and industry standards that advance competition and innovation worldwide. Our diverse membership and expert staff provide policymakers the broadest perspective and thought leadership from technology, hardware, software, services, and related industries.

About NFTC: NFTC is dedicated to making America more successful in the global economy by ensuring the adoption of competitive tax and trade policies, strengthening the global rules-based trading system and opening foreign markets to U.S. products and services. The Council’s membership spans the breadth of the national economy. It includes sectors such as energy products, aerospace, capital goods, transportation, consumer goods, technology, healthcare products, services, e-commerce and retail. Our companies account for more than $3 trillion in total sales worldwide, employ over five million Americans and produce a huge share of our nation’s total exports. We and our members have significant interests in ensuring a healthy U.S. economy and promoting America’s global leadership. Learn more at www.nftc.org.

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