Press Releases and Statements Archives - Page 18 of 104

NFTC Welcomes Announcement of Agreement on USMCA

Posted on December 10, 2019June 29, 2022 by dcadmin

Washington D.C. – National Foreign Trade Council (NFTC) President Rufus Yerxa today issued the following statement following the announcement of an agreement on USMCA:

“This is finally good news on the trade front after a long, hard year. We’re optimistic about the deal and are looking forward to seeing the final text. We believe this agreement will further strengthen the North American region, bringing about the commercial stability and certainty that our companies need to remain competitive in the global economy.”

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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.

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NFTC Foundation Honors Congresswoman Murphy, Congressman LaHood and Senator Portman

Posted on December 6, 2019June 29, 2022 by dcadmin

Washington D.C. – Last night, the National Foreign Trade Council (NFTC) Foundation hosted its annual World Trade Dinner and Awards Ceremony honoring Congresswoman Stephanie Murphy, Congressman Darin LaHood and Senator Rob Portman.

Leslie Griffin, President of the NFTC Foundation, delivered opening remarks followed by Secretary Carlos Gutierrez, NFTC Chairman. During his remarks, Secretary Gutierrez highlighted the need to work towards a trade policy that brings certainty to U.S. businesses competing in the global economy. “While 2020 is unlikely to be a year in which unpredictability vanishes entirely, we can all work to reduce it. And we can count on NFTC to help us analyze government actions, evaluate and mitigate risks and navigate this sea of uncertainty. Our leadership is more important than ever at this critical time.”

Congresswoman Stephanie Murphy, this year’s World Trade Award recipient, was honored for her work in leading a new generation of pro-trade Congressional members who understand the importance of the rules-based trading system in our economic success. In accepting the award, Congresswoman Murphy called for bipartisan support of trade liberalization policies and stressed the importance of deepening our economic ties in Asia, strengthening our trading relationship with Europe, and expanding exports of goods and services that support American workers. “Over time, Congress has delegated much of the power to impose tariffs to the executive branch. Now that the executive branch is abusing this power, Congress ought to reclaim its authority over these tariff decisions, especially because we are the branch of government closest to the American people harmed by them,” she added.

This year’s Trade Leadership for the Digital Trade Award recipient, CongressmanDarin LaHood, was honored for his work as the co-Chair of the Digital Trade Caucus and for his efforts to ensure that U.S. companies can thrive in the digital age.

“As policymakers, we need to recognize the importance of an open, global digital economy in the ability of American businesses and workers to succeed internationally. It is imperative that our trade agreements reflect modern technology and provide the necessary rules of the road,” he said while accepting his award.

The inaugural International Tax Award honoree, Senator Rob Portman, was recognized for his tireless efforts to ensure that U.S. companies enjoy fair and equal tax treatment across the world.

Accepting this award through a previously recorded video message, Senator Portman highlighted the role of tax reform in addressing the competitive disadvantage felt by U.S. companies who participate in the global economy and he stressed the need to push back against discriminatory digital services taxes around the world. “By lowering the corporate tax rate to just below the OECD average and moving into a modern territorial system we have managed to level the playing field for U.S. businesses and workers.”

The NFTC Foundation’s World Trade Dinner has become a valued tradition for guests including senior U.S. government officials, diplomats and top executives of critical global industries. This year’s dinner was held at the Andrew W. Mellon Auditorium in Washington D.C.

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NFTC Statement on USTR Section 301 Investigation into France’s Digital Tax Policies

Posted on December 3, 2019June 29, 2022 by dcadmin

Washington D.C. – National Foreign Trade Council (NFTC) Vice President for Global Trade and Innovation Jake Colvin today released a statement in response to the conclusion of USTR’s investigation under section 301 into france’s digital services tax:

“USTR’s Report on France’s Digital Services Tax demonstrates clearly that France’s measure was designed to discriminate against U.S. companies and avoid harm to French businesses, is unduly burdensome for American businesses, and serves as an unreasonable tax policy that is inconsistent with global norms.

“The French Government’s rush to impose this discriminatory tax undermines efforts to achieve a multilateral consensus to reform tax rules to address the digitization of the economy at the Organization for Economic Cooperation and Development (OECD), and has provoked an understandably strong response from the U.S. Government.

“NFTC urges the French Government to rescind this unilateral and discriminatory tax to prevent a completely avoidable bilateral trade conflict and to focus instead on achieving multilateral consensus at the OECD.

“Other governments who are contemplating similar discriminatory measures should take note of this investigation and reverse course. Moving ahead with unilateral and discriminatory taxes threatens to further escalate trade tensions unnecessarily.

“Countries should focus instead on reaching consensus through a multilateral approach to the tax challenges from the digitization of the economy at the OECD.”

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NFTC Foundation to Honor Congresswoman Stephanie Murphy, Congressman Darin LaHood and Senator Rob Portman

Posted on November 18, 2019June 29, 2022 by dcadmin

Washington D.C. – The National Foreign Trade Council (NFTC) Foundation today announced it will honor Congresswoman Stephanie Murphy, Congressman Darin LaHood and Senator Rob Portman at its annual World Trade Dinner and Awards Ceremony, which will take place on December 5th, 2019, at the Andrew W. Mellon Auditorium.

This year’s World Trade Award winner is Congresswoman Stephanie Murphy (D-Florida), who serves on the Trade Subcommittee of the Committee on Ways and Means and co-chairs the Blue Dog Coalition. The award recognizes her strong support for pro-trade policies and her efforts to reassert Congressional authority over tariffs.

“Congresswoman Murphy is a leading example of the new, dynamic generation of House Members who understand how vital trade is to the success of America’s businesses, workers and consumers,” said Rufus Yerxa, President of the National Foreign Trade Council. “Her work on tariff reform and her efforts to promote a strategic review of issues such as U.S.- China trade are of utmost importance, and we are pleased to be able to recognize her commitment to the principles and goals of NFTC.”

The NFTC will also honor Congressman Darin LaHood (R-Illinois), Co-Chair of the Digital Trade Caucus, with the Trade Leadership for the Digital Age Award, in recognition of his work on a range of proposals to enhance digital trade.

“Congressman LaHood is a key leader in helping to advance a legislative agenda for digital trade that reinforces U.S. global leadership in this vital area,” said Jake Colvin, Vice President for Global Trade and Innovation at NFTC and Executive Director of the Global Innovation Forum. “His bipartisan approach and keen understanding of the need for better trade rules for the digital age are highly valued by our members.”

NFTC is also conferring a new award, the International Tax Award, to recognize significant contributions to fostering fair and equal tax treatment for U.S. companies around the world. The inaugural recipient of this award is Senator Rob Portman (R-Ohio), a staunch supporter of fairer international tax policies.

“Tax and trade go hand in hand,” said Cathy Schultz, Vice President for Tax Policy at NFTC. “Nobody understands that better than Senator Portman. This year he has worked tirelessly in the Senate to gain ratification of key bilateral tax treaties and to ensure proper implementation of new tax laws. His efforts in both areas have been extremely important to empowering American businesses in global trade.”

The NFTC Foundation’s World Trade Dinner has become a valued tradition in Washington D.C. Past speakers and honorees have included members of Congress and the Administration, CEO’s, thought leaders, and heads of state.

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NFTC Applauds Congressional Leadership in Support of Existing U.S. De Minimis Level

Posted on November 12, 2019June 29, 2022 by dcadmin

Washington D.C. – The National Foreign Trade Council (NFTC) welcomed a recent letter from 130 Members of Congress to U.S. Trade Representative Robert Lighthizer highlighting broad bipartisan support for the current U.S. de minimis threshold and opposition to lowering the level through legislation to implement the U.S.-Mexico-Canada Agreement (USMCA).

In the letter, Members expressed “serious bipartisan concern” with the portion of the draft Statement of Administrative Action submitted by USTR regarding implementation of a provision in the Customs Administration and Trade Facilitation Chapter related to de minimis.

Members of Congress wrote:

“We strongly oppose any effort by the Executive Branch to lower the current $800 de minimis threshold through the USMCA implementing bill, including any amendment to 19 U.S.C. 1321 that would grant the Executive Branch additional authority to decrease or eliminate the threshold.”

Jake Colvin, Vice President of Global Trade and Innovation at NFTC, noted that “Congress raised the U.S. de minimis unilaterally in 2016 because a higher threshold benefits American businesses and consumers.”

He added, “NFTC appreciates the leadership of Representatives Earl Blumenauer, Vern Buchanan, Ron Kind and David Schweikert in support of American small businesses and consumers. This letter is a strong signal of the widespread bipartisan support for the existing U.S. de minimis level.”

A copy of the letter is available here.

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NFTC Releases Policy Brief on Strengthening the WTO

Posted on October 8, 2019June 29, 2022 by dcadmin

Geneva, Switzerland – National Foreign Trade Council (NFTC) President Rufus Yerxa today released a policy brief during the World Trade Organization (WTO) Public Forum on the importance of reforming the organization in order to strengthen the open, rules-based trading system.

“The current environment surrounding international trade and trade policy makes it more important than ever that we work to strengthen and update multilateral institutions such as the WTO that support the rules-based trading system and discourage economic nationalism and mercantilist policies around the world,” said Rufus Yerxa. “The WTO is crucial to the success of the world trading order and we hope this paper will help members consider changes that will bring the organization into the 21st Century.”

The paper outlines four recommendations for consideration by WTO members:

Update the rulebook for the 21st Century to align business, development and sustainability goals;
Improve existing WTO rules;
Resolve the Appellate Body crisis and guarantee a fully-functioning dispute settlement system; and
Reinvigorate the committee system to facilitate learning and best practices among WTO members.

To read the paper, click here.

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NFTC Statement on Limited U.S.-Japan Trade Agreement

Posted on September 25, 2019June 29, 2022 by dcadmin

Washington D.C.- National Foreign Trade Council (NFTC) President Rufus Yerxa today issued the following statement following the announcement by the Administration regarding the limited U.S.-Japan trade deal:

“We are pleased to see that the U.S. and Japan have come to an agreement that demonstrates the leadership of both countries in high-standard digital trade rules and gives certain U.S. farmers and ranchers greater access to the Japanese market.

“However, we are concerned about the limited nature of the deal, which falls short of the comprehensive nature of traditional U.S. trade agreements as it lacks commitments on non-tariff barriers, intellectual property and other regulatory concerns.

“Significantly, the agreement also fails to address the threat of damaging and counterproductive tariffs on autos and auto parts, which would be inconsistent with this new deal. We look forward to reviewing the text of what has been agreed to by the U.S. and Japan and we urge the Administration to continue working toward a broader agreement that benefits the entire U.S. economy.”

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NFTC Announces Formation of Tariff Reform Coalition

Posted on September 18, 2019January 5, 2023 by dcadmin

Tariff Reform Coalition urges Congress to increase oversight of trade policy and Presidential tariff authority.

Washington D.C.- National Foreign Council (NFTC) President Rufus Yerxa today announced the formation of the Tariff Reform Coalition, a broad-based organization dedicated to working with Congress to ensure greater Congressional oversight and review of Presidential use of tariff authority.

“Not since the 1930s has our country relied so heavily on tariffs in an attempt to pick winners in the U.S. market while overlooking the broader consequences for other industries and our economy as a whole,” said Rufus Yerxa, NFTC President. “The Constitution explicitly gives Congress the power to regulate commerce. We believe it is time for Congress to reassert its authority to ensure that tariffs are only used in limited circumstances and only where there is broad consensus between the two branches that such exceptional action is in our overall national interest.”

The Tariff Reform Coalition, whose membership includes leading auto, retail, agro-food and manufacturing associations, will work with Congress to craft legislation that will restore the longstanding balance between Congress and the Executive Branch in devising a U.S. trade policy that helps U.S. businesses flourish in the global economy.

In a letter sent earlier today to Senators Chuck Grassley and Ron Wyden as well as Representatives Richard Neal and Kevin Brady, the Coalition urged the Committees of jurisdiction in the House and Senate to “consider a robust congressional review” and increased congressional oversight of trade “given the emergence of tariffs as the single most significant mechanism for restructuring U.S. trade relations and impacting domestic production.”

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Full text of the letter —

September 18, 2019

Senator Chuck Grassley
Chairman
Committee on Finance
United States Senate
135 Hart Senate Office Building
Washington, DC 20510

Senator Ron Wyden
Ranking Member
Committee on Finance
United States Senate
221 Dirksen Senate Office Building
Washington, DC 20510

The Honorable Richard Neal
Chairman
Committee on Ways and Means
United States House of Representatives
2309 Rayburn House Office Building
Washington, DC 20515

The Honorable Kevin Brady
Ranking Member
Committee on Ways and Means
United States House of Representatives
1011 Longworth House Office Building
Washington, DC 20515

Dear Chairmen and Ranking Members,

The undersigned organizations represent a broad array of U.S. manufacturers, retailers, agricultural and food producers and other supply chain stakeholders who have been adversely affected by the increasing use of tariffs in pursuit of various policy objectives. We believe many of these actions have failed to consider the broader effects on our businesses, our overall economy and our trading relationships. We also believe that Congress must exercise greater oversight and control to ensure that Presidential tariff actions serve our overall national interest.

Because of these concerns, we have decided to form the Tariff Reform Coalition, a broad-based organization dedicated to ensuring clearer guidelines and greater Congressional oversight with respect to Presidential use of tariff authority. Our objective is to work with you to pass appropriate tariff reform legislation as soon as possible.

There are valid reasons for Congress to have delegated significant authority to the President in order to address unfair trade practices and liberalize world trade. However, the Administration’s overreliance on unilateral tariff increases to address a wide range of policy problems is upsetting the historic balance between Congressional and Executive powers. This balance between the two branches has worked effectively for many decades to strengthen our economy and grow export opportunities.

The Constitution clearly states that Congress has the power to regulate foreign trade and to specify the parameters of its delegated authority in the area of tariffs. In delegating such authority, Members of Congress are entitled, both by statute and custom, to expect that meaningful consultations between the two branches will occur prior to raising tariffs, rather than after the fact or not at all. Whatever the justification for Presidential action to address particular problems, it is critical to weigh the downside effects on American manufacturers, farmers and ranchers, exporters and consumers. It is clear that many of the Administration’s tariff actions over the past two years have had significant collateral effects on domestic prices and have led to extensive retaliation against our exports. We do not believe Congress was sufficiently apprised of these effects. Potential further harm from measures currently under consideration by the Administration and the resulting retaliation by trading partners could have even more sweeping effects throughout the economy.

Given the emergence of tariffs as the single most significant mechanism for restructuring U.S. trade relations and impacting domestic production, we urge both Committees to consider a robust congressional review of this policy shift. Our coalition strongly supports increased congressional oversight by your Committees, including public hearings on the various proposals already introduced. We believe Congress should strongly consider revisions designed to clarify the circumstances in which Executive action is justified under these statutes and to introduce appropriate Congressional review prior to implementation of new tariffs.

The longstanding balance between Congress and the Executive Branch in managing U.S. trade policy is crucial to our economic well-being. When this balance is upset, as has happened only occasionally throughout our long and successful history as a trading nation, our broader national economic interests inevitably suffer. It is therefore critical to reassert that balance and ensure that it works effectively to maintain America’s much needed leadership in the 21st century global economy. We look forward to working with you in the coming months to craft a legislative response that will establish the appropriate balance on tariff authority and enjoy broad bipartisan support.

Sincerely,

American Chemistry Council
American International Automobile Dealers Association
Association of Equipment Manufacturers
Association of Global Automakers
Auto Care Association
Can Manufacturers Institute
Coalition of American Metal Manufacturers and Users
Consumer Technology Association
Farmers for Free Trade
Flexible Packaging Association
Grocery Manufacturers Association
Here for America
Industrial Fasteners Institute
LNG Allies
National Foreign Trade Council
National Retail Federation
North American Association of Food Equipment Manufacturers
Precision Metalforming Association
Printing Industries of America
RV Industry Association
Specialty Equipment Market Association
Truck & Engine Manufacturers Association
United States Fashion Industry Association

For a PDF version of the letter, click 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.

NFTC Welcomes Senate Passage of Tax Treaties

Posted on July 17, 2019 by dcadmin

Washington D.C.- National Foreign Trade Council (NFTC) Vice President for Tax Policy Cathy Schultz today issued the following statement following Senate passage of bilateral treaty protocols with four countries:

“The NFTC applauds the Senate for voting to approve the bilateral tax treaty protocols with Spain, Switzerland, Japan and Luxembourg that had been held up for nine years by Senator Rand Paul and we thank members for opposing amendments proposed by Senator Paul that could have furthered delayed passage of these treaties.

“Income tax treaties play a critical role in fostering U.S. bilateral trade and investment and protecting U.S. businesses, large and small, from double taxation of the income they earn from selling goods and services in foreign markets. The delay in the passage of these protocols increased uncertainty and created economic burdens for U.S. companies operating abroad, and it limited foreign direct investment in the U.S.

“Three of the protocols approved today – Spain, Switzerland and Japan – include mandatory binding arbitration provisions that will facilitate the resolution of tax disputes and relieve double taxation, a provision that is strongly supported by the NFTC and its member companies.

“Passage of these protocols signals to the world that the U.S. can once again be looked at as a trusted treaty partner, and we look forward to putting years of treaty holds behind us and to the Senate resuming a regular schedule of approving tax treaties that strengthens our economy and ensures fair tax treatment for our companies around the world.”

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NFTC Applauds USTR Section 301 Investigation into France’s Digital Tax

Posted on July 10, 2019 by dcadmin

Washington D.C. – National Foreign Trade Council (NFTC) Vice President for Global Trade and Innovation Jake Colvin today issued the following statement following the announcement by the Office of the United States Trade Representative (USTR) that it would initiate an investigation into the French Government’s digital tax policies:

“NFTC strongly supports today’s move by USTR to investigate France’s unilateral digital tax policy, which amounts to a discriminatory tariff on American technology companies and threatens transatlantic trade ties.

“France’s new digital services tax disproportionately affects innovative American companies while carving out French competitors. The design of this new tax suggests it was tailored specifically to impose a financial burden on successful U.S. companies.

“In light of today’s announcement, we urge the French Government to reconsider its unilateral tax and focus instead on achieving a multilateral consensus to reform global tax rules for the digital age that is underway at the Organization for Economic Cooperation and Development (OECD).”

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