Press Releases and Statements Archives - Page 20 of 106

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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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 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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NFTC Releases Paper on the WTO Appellate Body Crisis

Posted on December 17, 2019June 29, 2022 by dcadmin

Washington D.C. – The National Foreign Trade Council (NFTC) today released a new paper entitled “Resolving the WTO Appellate Body Crisis: Proposals on Overreach” which contains recommendations designed to avoid future judicial overreach and strengthen the legitimacy of the Appellate Body. 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.

“A breakthrough of some sort on the Appellate Body deadlock is badly needed in Geneva. We commissioned this paper by Bruce because we think the demise of WTO dispute settlement would be a lose-lose for all Members,” said Rufus Yerxa, President of the NFTC. “We urge Members to read the paper and reflect on his proposals, which we believe can contribute to a productive dialogue to resolve this crisis.”

The paper includes six key proposals:

Enforce the 90-day timeframe for appeals;
Prohibit advisory opinions, and further elaborate the circumstances constituting advisory opinions;
Clarify that DSU Article 3.2 does not justify expanding or narrowing the reach of WTO provisions or filling gaps in WTO coverage;
Clarify that customary rules of interpretation of public international law do not justify gap-filling and expanding or narrowing the reach of WTO provisions;
Affirm that Article 17.6(ii) of the Antidumping Agreement must be given meaning, by clarifying that the provision reflects the principle just described, that WTO adjudicators may not expand or narrow the meaning of broad provisions and general terms; and
Direct the Appellate Body to reject party arguments that expand or narrow the reach of agreement provisions or fill gaps in agreements.

To read the full paper, click here.

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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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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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