Category: Press Releases and Statements

Major Business and Agriculture Groups Call for Removal of Steel and Aluminum Tariffs on Canada and Mexico

Posted on by dcadmin
In letter, a broad alliance of key associations calls for an end to tariffs on these products prior to completion of USMCA

Washington D.C. – A broad alliance of business and agriculture groups today urged United States Trade Representative (USTR) Robert Lighthizer to remove tariffs on steel and aluminum imports from Mexico and Canada following the successful negotiation of the United States -Mexico – Canada Agreement (USMCA).
The letter, signed by 34 associations, represents the concerns of a broad array of steel and aluminum-consuming businesses who have been greatly affected by tariffs on imports from Mexico and Canada.

“This is a top concern about USMCA for all of these associations, which represent a huge portion of American manufacturing and agriculture” said Rufus Yerxa, President of the National Foreign Trade Council. “Eliminating these unwarranted 232 tariffs on our North American partners is absolutely key if these associations are to give full support to the agreement in Congress. All sectors of our economy are being affected by these tariffs – 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 beginning to see higher prices for everyday goods.”

The letter outlines five main reasons why the administration should remove these tariffs:
  • First: Tariffs on imports of steel and aluminum are entirely inconsistent with the overall goals of the USMCA;
  • Second: The USMCA rules of origin already require the use of North American steel in the production of vehicles;
  • Third: Section 232 tariffs on steel and aluminum (and the related absolute import quotas) have caused significant harm to American manufacturers, consumers and workers;
  • Fourth: The continuation of these tariffs with respect to Mexico and Canada may create impediments to Congressional passage of the USMCA implementing bill; and
  • Finally: Retaliatory tariffs are hurting American exporters and putting American jobs at risk.
     
To read the full text of the letter, click here.

NFTC Statement in response to UK Digital Services Tax Announcement

Posted on by dcadmin

Washington D.C. – In response to today’s announcement by the UK Government that it will introduce a consultation to impose a “Digital Services Tax” that would apply from April 2020, National Foreign Trade Council (NFTC) President Rufus Yerxa released the following statement:

“The NFTC is concerned that the concept of a Digital Services Tax threatens to undermine the long-held principle of permanent establishment that underpins worldwide taxation policies and is reflected in U.S. bilateral tax treaties, and is a cornerstone of the U.S.-U.K. tax treaty. This proposal could disproportionately affect American companies and may ultimately wind up interfering with the UK’s trade commitments. If enacted, this measure could also complicate the United Kingdom’s push for deeper US-UK trade relations.”

###

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 hundreds of member companies through its offices in Washington and New York.
Follow us on:
 
 

NFTC Statement on the United States-Mexico-Canada Agreement

Posted on by dcadmin

Washington D.C. – National Foreign Trade Council (NFTC) President Rufus Yerxa today released the following statement following the submission by USTR of the proposed text of the United States-Mexico-Canada Agreement (USMCA):

“The NFTC is pleased to see that the new NAFTA – now the United States-Mexico-Canada Agreement (USMCA) – will remain a trilateral agreement. The text of this new agreement has hundreds of pages and includes numerous new provisions, so it will take some time for us to fully assess its effects for our member companies and for countless businesses across our country whose success depends on a robust North American economy.”

###

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 hundreds of member companies through its offices in Washington and New York.
Follow us on:
 
 
 
 
 

NFTC Statement on Additional Tariffs on Imports from China

Posted on by dcadmin

Washington D.C. – National Foreign Trade Council (NFTC) President Rufus Yerxa today released the following statement following the announcement by the President that the United States will place additional tariffs on roughly $200 billion of imports from China.

“The NFTC has joined more than 80 industry Associations this week in expressing grave concern over U.S.-China trade relations and the adverse impact of rapid tariff escalation on American businesses, farmers and consumers.

“While we continue to support the objective of pushing China towards better norms in investment, intellectual property and other areas, we believe that the administration’s current approach relies on the faulty assumption that a tariff war is easy to win and that tariffs will make America stronger.

“Continuing to rely on tariffs as the basis of our trade policy risks isolating the U.S. from world trade just at a time when we need to be expanding our exports and our commercial relationships with countries around the world.”

###

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 hundreds of member companies through its offices in Washington and New York.
Follow us on:
 
 
 

NFTC Statement on Preliminary U.S.-Mexico Trade Deal

Posted on by dcadmin

Washington D.C. – NFTC President Rufus Yerxa today released the following statement following the announcement by the President that the United States has reached a preliminary trade deal with Mexico:

“Ever since the President first decided to renegotiate NAFTA, American industry has pressed for a continued three-way deal that would expand, not shrink, economic opportunities for the North American region.

“While we’re still awaiting the full details of this preliminary deal with Mexico, it is critical that any modernized NAFTA continue to include all three North American partners. NAFTA has made North America an economic powerhouse, and the only way we can compete for global markets with Asian and European producers is to maintain and strengthen the entire North American production base.”

###
 

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 hundreds of member companies through its offices in Washington and New York.
Follow us on:
 

NFTC Statement on Additional China Tariffs

Posted on by dcadmin

Washington D.C. – Following the announcement by the Office of the United Trade Representative (USTR) of further tariffs on imports from China under Section 301, National Foreign Trade Council (NFTC) President Rufus Yerxa today issued the following statement:

“This rapid escalation of tariffs with China greatly increases uncertainty for companies in both China and the United States. While we agree that it is important to compel China to change, raising costs to consumers and subjecting our farmers and manufacturers to wholesale trade wars through the imposition of unilateral tariffs is not a winning strategy. If we don’t want to end up in a world of increasing trade barriers and greater uncertainty for all our companies, I would urge both governments to find a way back to the negotiating table.”

###

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 hundreds of member companies through its offices in Washington and New York.
Follow us on:

NFTC Submits Comments for Autos Section 232 Investigation

Posted on by dcadmin

Washington D.C. – The National Foreign Trade Council (NFTC) today submitted comments to the Department of Commerce for the Section 232 Investigation into Imports of Autos and Automotive Parts. Following submission of the comments, NFTC President Rufus Yerxa issued the following statement:

“Today NFTC joined the U.S. auto industry in opposing new tariff barriers on autos and auto parts under Section 232 because such action will cause greater harm than good to America’s auto industry, which is now the world’s most competitive and dynamic producer.

“U.S. auto manufacturing is booming, and we are growing production, sales and exports at an impressive rate. New tariffs on autos and parts, especially on top of the already-damaging steel and aluminum tariffs, will drastically raise production costs for our auto companies, who will have to pass those costs on to consumers. These tariffs will also make it almost impossible for U.S. manufactures to sell their cars abroad in the face of foreign tariff retaliation. We exported 2 million autos last year, and we can grow that number if our government concentrates on opening foreign markets instead of raising barriers and costs here at home.”

“Just this week I had the chance to see U.S. auto manufacturing at work at Toyota’s plant in Princeton, Indiana,” Yerxa continued. “During this visit, I saw a right-hand drive SUV roll of the line, ready for export to Australia. I hope the Administration will concentrate its negotiating energies on how to increase those export opportunities. More than 95% of the world’s consumers live abroad and we need open world trade to reach those consumers in order to grow our businesses and produce more jobs for American workers. That’s where future economic success lies, not in raising new barriers.”

To read the full comments, click here.

###

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 hundreds of member companies through its offices in Washington and New York.
Follow us on:
 
 
 
 

Business Associations Call for Greater Congressional Oversight of U.S. Trade Policy

Posted on by dcadmin

Washington D.C. – The National Foreign Trade Council (NFTC) joined leading business associations in calling for greater Congressional control over Presidential use of tariffs and other trade policy instruments. This call comes amidst rising concern over the Administrations decisions regarding the implementation of tariffs on imports, even those from our allies, and the damage these tariffs are inflicting on U.S. businesses and consumers.

In a letter delivered to Chairman Hatch and Ranking Member Wyden of the Senate Finance Committee and to Chairmen Brady and Ranking Member Neal of the House Ways and Means Committee late yesterday, close to 60 associations urged Congress to reassert the balance between Congress and the Executive Branch in managing U.S. trade relations.

“We strongly believe that, in order to change the current path that the Administration has chosen to take on trade, Congress must reassert itself and oversee our country’s trade policy, especially the use of unilateral tariffs,” said Rufus Yerxa, President of the NFTC. “As is evidenced by the broad group of trade associations who signed this letter, every sector of the economy is feeling the effects of the Administration’s current trade policy, which hurts far more workers and consumers than it could ever help.”

To read the full text of the letter, click here.

###

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 hundreds of member companies through its offices in Washington and New York.
Follow us on:

ACSAT Welcomes Congressional Efforts to Limit Use of Section 232 Tariffs

Posted on by dcadmin

Washington D.C. – Rufus Yerxa, President of the National Foreign Trade Council (NFTC), today issued the following statement on behalf of the Alliance for Competitive Steel and Aluminum Trade (ACSAT) regarding efforts in Congress to limit the President’s use of Section 232 tariffs.

“ACSAT welcomes the news that members of the Senate and the House are moving forward with legislation that limits the President’s ability to implement tariffs based on Section 232 investigations. This delegation of authority was given by the Congress to the President to allow him to limit imports when faced with direct national security threats. However, in recent months, it has become clear that the Administration has misused its authority under Section 232 by implementing broad tariffs on imports from our closest allies rather than designing a coherent trade policy that addresses unfair trade practices around the world.

“Unilateral protectionist tariffs will harm our own economy and cost more jobs than they save. As we have already seen, these actions by the Administration will result in limiting our export opportunities as our trading partners retaliate against these unjust actions.

“We strongly support Congress’ efforts to reign in the Administration’s inappropriate use of Section 232 and to avoid a resulting breakdown in global trade rules, further alienating our closest partners.”

 
###

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 hundreds of member companies through its offices in Washington and New York.
Follow us on:
 

NFTC Statement on Tariffs on Imports of Steel and Aluminum from Mexico, Canada and the EU

Posted on by dcadmin

Washington D.C. – National Foreign Trade Council (NFTC) President Rufus Yerxa today issued the following statement regarding the Administration’s decision to impose Section 232 tariffs on imports of steel and aluminum from Mexico, Canada and the European Union.

“The NFTC is increasingly concerned about the Administration’s trade policy and what these actions, when taken as a whole, mean for the future of U.S.-based companies who depend on a functioning international trading system to succeed. The United States has greatly benefited from the existing international trading system, and we remain convinced that dealing with unfair trade practices around the world requires multilateral diplomacy, not unilateral tariffs.

“Today’s announcement that the European Union, Mexico and Canada will no longer be exempt from tariffs on imports of steel and aluminum is especially problematic. Not only are these countries among our most important trade and security allies, but they represent a significant percentage of the world’s consumers who have, until now, made the U.S. an export powerhouse.

“We continue to urge the Administration to reconsider the application of these tariffs on our trading partners and to ensure that measures intended to deal with problematic trade practices around the world comply with our international obligations.”

###
 

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 hundreds of member companies through its offices in Washington and New York.
Follow us on: