Category: Press Releases and Statements

NFTC Welcomes Senate Passage of Reconciliation Bill

Posted on by Joe Locher

WASHINGTON, DC – National Foreign Trade Council (NFTC) Vice President for International Tax Policy Anne Gordon today issued a statement following Senate passage of the reconciliation bill:

“We welcome Senate passage of the One Big Beautiful Bill. We would like to thank Leader Thune, Chairman Crapo, and the members of the Senate Finance Committee for their dedicated work in advancing the tax provisions of this legislation and for their commitment to the development of pro-growth U.S. tax policy.

“We welcome the Senate’s decision to retain core international and business provisions of the Tax Cuts and Jobs Act in its version of the bill, as well as including permanent immediate expensing of research and development and reinstating depreciation and amortization in the interest deduction limitation. We are also pleased to see the Senate make permanent the look-through for controlled foreign corporations and provide other long-needed international tax fixes for U.S. corporations.

“As the House considers the revised bill, we encourage swift consideration and passage of tax legislation that incentivizes investment, innovation, and global opportunity for America’s job creators.”

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About the NFTC

The National Foreign Trade Council (NFTC) is the premier business association advancing trade, tax, national security and supply chain 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, who account for over $6 trillion in revenue and employ nearly 6 million people in the United States.

NFTC Applauds Canada’s DST Decision, Urges Others to Follow

Posted on by Veronica Berkshire

Washington, D.C. – National Foreign Trade Council (NFTC) Vice President for Global Trade Policy Tiffany Smith today issued a statement following Canada’s decision to rescind its digital services tax (DST):

“We applaud Prime Minister Carney and Minister Champagne for their decision to halt today’s collection and bring forward legislation to rescind the digital services tax altogether. We also thank President Trump for standing up for American companies and competitiveness abroad.

“Following Canada’s decision, we urge the United States and Canada to intensify negotiations to reach a deal that strengthens our bilateral economic relationship and addresses tariff and non-tariff barriers by their July 21 deadline.

“The process that led us here sends a strong signal that this Administration is committed to ensuring non-discriminatory treatment of U.S. companies abroad. We urge other countries who currently have or are considering DSTs – including the UK and France- to follow Canada’s lead. It is critical that they rescind these discriminatory policies so that future negotiations do not get sidetracked and can focus on strengthening trade ties and economic competitiveness.”

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About the NFTC
The National Foreign Trade Council (NFTC) is the premier business association advancing trade, tax, national security and supply chain 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, who account for over $6 trillion in revenue and employ nearly 6 million people in the United States.

NFTC Joins Leading Industry Associations in Calling for Key Revisions to the Section 232 Inclusions Process

Posted on by Veronica Berkshire

WASHINGTON DC – The National Foreign Trade Council (NFTC) and  29 leading industry  associations are urging the Department of Commerce to improve  the Section 232 implementation process in order to minimize unintended consequences.

The letter requests that Commerce amend the 232 implementation process to address several specific issues, including:

  1. Extend time for public comment and hold a hearing;
  2. Limit scope within HTS numbers;
  3. Provide expanded, clear & transparent inclusion criteria and dismiss petitions that do not meet them; and
  4. Add a mechanism for removing derivative product designations if circumstances change.

“The associations that signed this letter support the administration’s goal of safeguarding national security and strengthening our production economy,” said Tiffany Smith, NFTC Vice President for Global Trade. “However, without clear and precise parameters, this process risks becoming a blunt instrument that undermines the innovation, national resilience, and manufacturing strength it aims to protect.

“This is a critical moment to get the balance right,” added Smith. “We urge Commerce to adopt a transparent, targeted, and responsive framework. A well-calibrated approach, informed by ongoing industry engagement, will avoid unnecessary harm to U.S. competitiveness and advance the shared goals of Commerce and U.S. industry.”

Full text of the letter can be found here.

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About the NFTC
The National Foreign Trade Council (NFTC) is the premier business association advancing trade, tax, national security and supply chain 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, who account for over $6 trillion in revenue and employ nearly 6 million people in the United States.

Time is Running Out to Stop Canada’s Cash Grab

Posted on by Joe Locher

WASHINGTON, D.C. – National Foreign Trade Council (NFTC) Vice President for International Tax Anne Gordon today issued the following statement:

“In just two weeks, U.S. companies will have to pay the Canadian government a 3% retroactive tax on their digital activities going back to January of 2022. Estimates suggest that the total amount Canada stands to collect by this date could surpass CAD $3 billion, most of which will be paid by American companies.

“As President Trump and Prime Minister Carney meet in Canada for the G7, we urge them to work together and quickly come to an agreement that reinvigorates our bilateral economic relationship. Critically, such an agreement must resolve the issue of Canada’s DST before the June 30 payment deadline.”

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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.

Evolving Global Tax Rules Drive New Tax Treaty Priorities, NFTC Survey Finds

Posted on by Veronica Berkshire

Washington D.C. – The National Foreign Trade Council (NFTC) today released results from its annual Tax Treaty Survey. The survey, which was answered by tax professionals from NFTC member companies, asked businesses to rate their tax treaty priorities around the world.

“As global tax rules evolve and more countries implement new tax regimes, companies need certainty and streamlined taxation now more than ever,” said Anne Gordon, NFTC Vice President for International Tax Policy. “Tax treaties are not only essential for business planning, but they reinforce America’s position as a leader in international tax cooperation and economic competitiveness. Expanding and modernizing the U.S. tax treaty network will provide a foundation for long-term investment and cross-border growth.”

Highlights of this year’s survey include:

  • Switzerland was the country most frequently identified as the top priority for respondents.
  • For Switzerland, reducing withholding rates on dividends was the most important tax treaty negotiation item, followed by Limitation on Benefits (LoB) and Mutual Agreement Processes (MAP).
  • Taiwan was identified second most frequently as a top priority, followed by a group comprising Brazil, Israel, Italy, Saudi Arabia and Singapore.
  • Brazil retained its place atop the list of highest overall priority, receiving the most total mentions.
  • For Brazil, Transfer Pricing remained the greatest concern for respondents.
  • Singapore and India rounded out the top three highest overall priority countries. Switzerland, Israel and Saudi Arabia were also mentioned as high overall priority countries.
  • In total, respondents requested treaties with 29 countries.

Read the full results of the 2025 Tax Treaty Survey here.

An infographic of the most requested countries can be found 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.

Doubling Tariffs on Steel and Aluminum Will Increase Consumer and Business Uncertainty

Posted on by Veronica Berkshire

WASHINGTON DC – National Foreign Trade Council (NFTC) President Jake Colvin today issued a statement following the administration’s announcement of an increase of tariffs on steel and aluminum imports:

“At a time when the Administration has been prioritizing new trade deals and stabilizing economic relations with major trading partners, this is a step in the wrong direction. Doubling tariffs on steel and aluminum imports adds even more onerous cost pressures on American manufacturers and consumers. The rapid fire announcement and implementation of these new tariff hikes also adds to the uncertainty surrounding U.S. trade policy, which is paralyzing for corporate decision making and consumer spending.”

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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 Urges Administration to Double-Down on Dealmaking in the Wake of Court’s Decision on Tariffs

Posted on by Marshall Lane

Following the Court of International Trade’s opinion in two cases challenging the President’s use of the International Emergency Economic Powers Act to impose tariffs on goods from nearly every country, National Foreign Trade Council President Jake Colvin released the following statement:

“The Court’s decision is encouraging news for American businesses and consumers and a powerful reminder of Congress’ responsibility to set tariffs.

“While the Court’s ruling is welcome, it is likely to foster ongoing uncertainty given the appeals process and the likelihood that the Administration will continue to use other legal authorities to impose tariffs.

 

​”W​ith the IEEPA duties in flux,​ the Administration now has the opportunity to laser-focus attention on ​removing other countries’ t​rade barriers​ while offering ​them relief from existing and future U.S. tariffs – including sectoral tariffs – in return. The promise of certainty ​is ​a compelling reason ​for America’s trading partners to ​negotiate in good faith and strike ​deals. 

​”Secretaries Bessent and Lutnick and U.S. Trade Representative Greer have already laid the groundwork to secure new deals. ​The Trump Administration ​has a chance to double-down on its dealmaking​​ and set commercially-meaningful, zero-tariff agreements as its North Star. 

“Looking ahead, there’s a real opportunity to turn the emerging framework with ​the United Kingdom into a comprehensive trade and technology agreement that eliminates tariffs​, strengthens AI cooperation and commits London to removing its discriminatory digital services tax. The Administration can challenge the European Union ​to eliminate tariffs on a reciprocal basis while securing commitments by Brussels to roll back regulatory overreach in areas like ​corporate sustainability due diligence​ and working with Member States to remove discriminatory digital taxes and policies. And the United States can use ongoing bilateral talks and the joint review of the U.S.-Canada-Mexico trade agreement to knock down remaining barriers with our closest trading partners, including repealing Canada’s digital services tax and strengthening North American energy security.”

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About the NFTC
The National Foreign Trade Council (NFTC) is the premier business association advancing trade, tax, national security and supply chain 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, who account for over $6 trillion in revenue and employ nearly 6 million people in the United States.

NFTC Statement Following Passage of Reconciliation Bill

Posted on by Joe Locher

WASHINGTON DC – National Foreign Trade Council (NFTC) Vice President for International Tax Policy Anne Gordon released a statement following the passage of the reconciliation bill:

“We would like to once again thank Chairman Smith and the Ways & Means Committee and staff for their tireless work on this bill and Speaker Johnson and the leadership team for their efforts to bring critical U.S. tax legislation one step closer to becoming a reality.

“We congratulate the House on passing the One, Big, Beautiful Bill and urge the Senate to take up work on it as quickly as possible. While we commend the House for including the preservation of the core international and business provisions of the Tax Cuts and Jobs Act in their bill – Foreign-Derived Intangible Income, Global Intangible Low-Taxed Income and the Base Erosion and Anti-Abuse Tax, we’d encourage the Senate to consider addressing some of the issues that remain outstanding. In particular, we’d urge them to include permanence for research and development expensing, interest deductibility and bonus depreciation and the inclusion of other longstanding tax policies such as controlled foreign corporation look-through which are of crucial importance for American companies. 

“The NFTC and its member companies look forward to continued engagement with Congress and the administration to finalize a legislative tax framework which ensures U.S. competitiveness in the global market.”

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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 Cautions Against Tariffs on Critical Minerals

Posted on by Veronica Berkshire

WASHINGTON DC – The National Foreign Trade Council (NFTC) today submitted comments to the Department of Commerce for the Section 232 National Security Investigation of Imports of Processed Critical Minerals and Derivative Products.

The comments read, in part, “The U.S. cannot compete with China simply by forcing American companies to pay more for these minerals without an alternative. Building an alternative supply chain will take years and significant investment from both the private and public sectors. Tariffs only serve to drive up prices, which results in making U.S. products less competitive globally.”

“Our position on this 232 investigation aligns with the comments we submitted last week for similar investigations into semiconductors and pharmaceuticals,” said Jeannette Chu, Vice President for National Security Policy. “In our comments, we once again reiterate our support for the Administration’s objective to bolster national security by increasing domestic manufacturing of certain products and inputs, but believe that tariffs are not the best option. Instead, we offer recommendations to strengthen U.S. national security and competitiveness by diversifying and enhancing access to these inputs.”

Read our full comments 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 Statement on Release of Reconciliation Bill Tax Text

Posted on by Joe Locher

WASHINGTON DC – National Foreign Trade Council (NFTC) Vice President for International Tax Policy Anne Gordon released a statement following the release of the reconciliation bill:

“Thank you to Chairman Smith, the Members of the Committee and all involved in the crafting of the tax provisions of this bill. We believe it is an important step toward providing the long term tax framework that our companies need to succeed.

“We are glad that the bill creates permanence for TCJA’s international measures and restores several expired provisions, including R&D and the interest limitation deduction. As the process moves forward, we urge the Committee to consider other important reforms and improvements to the international tax rules, including the continuation of CFC look-through.”

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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.