Press Releases and Statements Archives - Page 18 of 105

NFTC Urges Administration Not to Impose Tariffs on Canadian Aluminum

Posted on August 6, 2020January 4, 2023 by dcadmin

Washington D.C. – National Foreign Trade Council (NFTC) President Rufus Yerxa issued the following statement today following the President’s announcement that he will be re-imposing tariffs on Canadian aluminum:

“This is a misguided action and I urge the Administration to reconsider. It was taken without meaningful justification or investigation and will undoubtedly hurt more U.S. manufacturers than it helps, especially in the middle of an economic downturn.

“These tariffs undermine the new USMCA agreement. We should not be imposing unilateral tariffs so quickly after its entry into force. Canada is our largest trading partner and one of our closest allies and this move will only hurt the relationship.”

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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.

Leading Industry Associations Call for Congress to Provide Tax Certainty for Remote Workers

Posted on July 2, 2020June 29, 2022 by dcadmin

Washington D.C. – The National Foreign Trade Council (NFTC) today joined leading industry associations calling for Congress to address tax issues arising from employees required to work remotely due to COVID-19.

In a letter addressed to Senate Majority Leader Mitch McConnell, Senate Minority Leader Chuck Schumer, House Speaker Nancy Pelosi and House Minority Leader Kevin McCarthy, 17 associations representing a broad cross-section of the U.S. economy urged Congress to “enact federal legislation that reduces uncertainty by allowing an employee’s wages to be treated as being earned at their normal work location.”

“Without changes to current tax laws, thousands of workers across the country could unknowingly be facing higher than expected tax bills for this year,” said Cathy Schultz, Vice President for Tax Policy at NFTC. “We strongly urge Congress to make this issue a priority in the next COVID-19 legislative package.”

The letter reads:

“Providing this certainty at an otherwise uncertain time is essential. Without Congressional action, employees may receive unexpected and unwelcomed tax surprises when they file their 2020 state and local income tax returns next year – and face penalties and interest charges (and even potential double taxation) through no fault of their own. A federal solution is needed because the states are taking different and conflicting positions on how the income of workers displaced by the pandemic should be taxed. Solving this problem will ensure employees who are working remotely during the pandemic are not penalized for doing so.”

In addition to the NFTC, the letter was signed by Business Roundtable, Computer Technology Industry Association (CompTIA), CTIA, Financial Executives International (FEI), Information Technology Industry Council (ITI), Motion Picture Association, National Association of Manufacturers, National Council of Chain Restaurants, National Retail Federation, NCTA – The Internet & Television Association, Securities Industry and Financial Markets Association (SIFMA), Silicon Valley Tax Directors Group, Software Finance and Tax Executives Council, United States Council for International Business, U.S. Chamber of Commerce, and USTelecom – The Broadband Association.

To read the full letter, click here.

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NFTC Statement on Entry into Force of USMCA

Posted on July 1, 2020June 29, 2022 by dcadmin

Washington D.C. – National Foreign Trade Council (NFTC) President Rufus Yerxa today issued the following statement marking the date of entry into force of USMCA:

“We are hopeful that today will mark the end of a long three years of uncertainty for countless U.S. businesses who rely on the North American platform to remain productive, innovative and competitive in the global economy – especially as we face the post-pandemic economic recovery. However, much will depend on how the agreement is implemented over the coming months.

“We are glad to see that North American integration remains a fundamental part of U.S. trade policy and we look forward to working with Congress and the administration to ensure a smooth transition from NAFTA to USMCA for our country’s businesses and consumers.”

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NFTC President: Re-Imposing Tariffs on Canada Undermines Spirit of USMCA

Posted on June 24, 2020January 4, 2023 by dcadmin

Washington D.C. – National Foreign Trade Council (NFTC) President Rufus Yerxa today issued the following remarks on reports that the administration is considering re-imposing tariffs on aluminum imports from Canada:

“This attempt to re-impose aluminum tariffs on our Canadian neighbors would be a major mistake. It would completely undermine the spirit of our newly-negotiated USMCA and would reignite trade tensions with our biggest trading partner. It will also hurt the most dynamic U.S. manufacturers in sectors like autos, food products and construction, all in a vain effort to prop up inefficient domestic aluminum producers by branding Canada a national security threat.

“American consumers will pay the price, but so will our exporters, who will undoubtedly face Canadian retaliation. It would indeed be sad if the administration fails to recognize why such an action a few days before entry into force of USMCA would undermine our credibility as a reliable trading partner, not just with Canada, but with other potential free trade partners like the U.K. and Japan.”

NFTC and the Alliance for Competitive Steel and Aluminum Trade (ACSAT) have opposed the imposition of tariffs on steel and aluminum since they were first announced in 2018. After considerable push back from a broad cross section of the U.S. business community, the administration suspended these tariffs for Mexico and Canada as part of USMCA negotiations in May 2019. Re-imposing these tariffs on Canada would be a serious step back in our commitment to an integrated North American supply chain.

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NFTC Urges Administration to Reconsider Non-Immigrant Visa Suspensions

Posted on June 23, 2020June 29, 2022 by dcadmin

Washington D.C. – National Foreign Trade Council (NFTC) President Rufus Yerxa today issued the following statement regarding an Executive Order signed yesterday suspending non-immigrant visas to the U.S.:

“NFTC has long championed the ability of American companies to hire the best and the brightest individuals from around the world. It has always been our belief that the temporary entry of workers and students makes America more competitive.

“At a time when we ought to be seeking ways to rebuild and strengthen our economy, the administration’s actions will do the opposite and will instead severely limit our ability to recover from this pandemic. Orders such as this one inhibit our long-term competitiveness and will do nothing but benefit other countries who are poised to welcome global talent with open arms.”

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NFTC Releases Paper Outlining Proposals to Address the WTO Appellate Body Crisis

Posted on June 5, 2020June 29, 2022 by dcadmin

Washington D.C. – The National Foreign Trade Council (NFTC) today released a new paper entitled “Resolving the Appellate Body Crisis: Proposals on Precedent, Appellate Body Secretariat and the Role of Adjudicators,” a follow up to a paper released last year entitled “Resolving the WTO Appellate Body Crisis: Proposals on Overreach.” The paper was prepared by Bruce Hirsh of Tailwind Global Strategies LLC – a former USTR official who represented the U.S. in dispute settlement matters in Geneva.

“The world needs a functioning WTO now more than ever, and while countries are working to pick a successor for the Director General role, it is important to continue the work that has already been done to reform the dispute settlement system,” said Rufus Yerxa, President of the NFTC. “As with the last paper we released on this matter, I hope the proposals contained in this document assist in advancing the necessary dialogues within the WTO.”

Specifically, the paper outlines 3 proposals that will help “reflect the goal of making the Appellate Body operate as Members expected in 1995:”

Clarify that Appellate Body reports do not create binding precedent;
Replace the Appellate Body secretariat with clerks seconded from the WTO secretariat; and
Guidance on the Role of Adjudicators.

To read the full paper, click here.

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NFTC Statement on USTR Section 301 Investigation into Digital Tax Policies

Posted on June 3, 2020June 29, 2022 by dcadmin

Washington D.C. – The National Foreign Trade Council (NFTC) today released a statement in response to USTR’s announcement that it will initiate Section 301 investigations into multiple countries who have adopted or who are considering discriminatory, unilateral digital services taxes.

NFTC shares the U.S. Government’s growing concern about the adoption of tax programs that discriminate against U.S. companies. These measures undermine the U.S. tax base, threaten to undermine established international principles of taxation and are exactly the wrong response to post-pandemic economic recovery efforts.

Despite ongoing negotiations at the Organization for Economic Cooperation and Development (OECD) on the tax challenges of the digitization of the economy, a number of countries around the world have bypassed the multilateral approach and adopted or telegraphed plans to impose discriminatory digital services taxes.

For example, last week, the EU announced a blueprint for economic recovery which called for a Europe-wide DST and a separate single market tax that would fall disproportionately on American businesses to help pay for European COVID recovery. Other jurisdictions, including Indonesia and India, have also recently announced or enacted discriminatory digital services taxes that target a wide variety of digital industries and disproportionately affect U.S. companies.

Because of their discriminatory nature, unilateral DSTs are certain to escalate trade tensions between the United States and many of our closest trading partners. USTR’s announcement illustrates the high priority the U.S. Government places on pushing back against actions taken outside of the multilateral process. We support the U.S. Government taking steps to protect U.S. businesses from these discriminatory tax regimes. We also encourage the U.S. Government to be mindful of the unintended economic consequences that retaliation could have on U.S. businesses and consumers not party to these concerns.

NFTC urges countries to drop unilateral DSTs and to work towards a multilateral consensus on new non-discriminatory tax rules at the OECD in order to avoid undermining the global tax and trade systems.

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NFTC Statement on Departure of WTO Director General

Posted on May 14, 2020June 29, 2022 by dcadmin

Washington D.C. – National Foreign Trade Council (NFTC) President Rufus Yerxa today issued the following statement following the announcement by World Trade Organization (WTO) Director General Roberto Azevêdo that he will be stepping down before the end of his term:

“I think Roberto Azevêdo has done an outstanding job of leading the WTO through a difficult transition from a failed DOHA Round to the beginning of a much-needed reform agenda which was making real progress before the coronavirus crisis.

“What we need now in a transition to new leadership is someone who will be committed to moving that reform agenda forward and maintaining a robust WTO to fight the inevitable wave of protectionism that will emerge in a post-pandemic world.

“The biggest danger now is that critics of this organization will use a leadership vacuum as an excuse to undermine the entire system. But the WTO will survive, it will play a critical role in stabilizing the world during the economic recovery, and U.S leadership will be critical to ensuring that goal.”

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NFTC Statement on USITC COVID-19 Related Products Report

Posted on May 4, 2020June 29, 2022 by dcadmin

Washington D.C. – National Foreign Trade Council (NFTC) President Rufus Yerxa today issued a statement following the publication of the United States International Trade Commission (USITC) report on COVID-19 Related Goods: U.S. Imports and Tariffs:

“This ITC report makes it clear that immediate suspension of tariffs on these items is justified and really important to fighting the pandemic. The NFTC joins Chairman Neal in urging the Administration to move with due haste to suspend all tariffs on these products.”

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NFTC Statement on U.S.-China Phase One Agreement

Posted on January 15, 2020June 29, 2022 by dcadmin

Washington D.C. – The National Foreign Trade Council (NFTC) today welcomed the announcement of a phase one agreement between the United States and China, a critical first step towards a more sustainable, predictable and mutually-beneficial trading relationship.

The agreement outlines deliverables in areas critical to U.S. business, including prohibitions on forced technology transfer, improved market access for financial services, disciplines on state-directed outbound investment, and enhanced protections of trade secrets and other intellectual property rights.

“We are glad to see progress towards a resolution of the U.S.-China trade war, but it is important to remember that there is a lot more work to do,”said Rufus Yerxa, President of the NFTC. “As with any trade agreement, the devil is in the details, and many of details of this deal are not clear yet.”

In the coming days and weeks, it will be important for the two sides to provide more clarity on the removal or reduction of tariffs on each other’s’ products and on Chinese purchase commitments so that U.S. exporters can better assess new business opportunities, and to release details alluded to in the agreement, including on China’s Action Plan to strengthen intellectual property protection.

“Enforcement will be key to the success of this deal,” added Yerxa. “We look forward to working closely with the Administration to make sure that the commitments contained in this agreement translate into commercial opportunities for U.S. businesses in the Chinese market.”

The NFTC believes that tariffs should not be the first resort in disputes with China or with our other trading partners. Going forward, China and the United States must work through the newly-created bilateral dispute resolution mechanism to assess compliance with the agreement and to resolve tensions as they arise in order to prevent future cycles of new tariffs, which would create permanent uncertainty for businesses.

Normalizing the U.S.-China trade relationship will require the two sides to implement fully the phase one agreement and to move expeditiously to a phase two agreement that removes tariffs and additional structural imbalances to the relationship, and sets the two countries on a path towards a trade relationship governed by market forces rather than managed trade and tariffs.

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