Category: Press Releases and Statements

NFTC, GIF Among Leading Industry Groups Urging Rapid Progress on E-Commerce Initiative at WTO

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Washington D.C. – Following the announcement in Davos that countries would intensify efforts to begin negotiations at the World Trade Organization on trade-related aspects of electronic commerce, the National Foreign Trade Council (NFTC) and the NFTC’s Global Innovation Forum (GIF) today released a letter signed by more than 50 organizations from around the world urging rapid progress on an ambitious e-commerce agreement.

In an open letter to trade ministers, the groups write that, “Countries now have a unique opportunity to clarify and improve the existing framework of trade rules and commitments around trade facilitation, services, digital trade, transparency and trust to improve the ability of businesses of all sizes and across all industries to benefit from the global digital marketplace and realize the potential of e-commerce for development.”

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

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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 hundreds of member companies through its offices in Washington and New York.
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NFTC Foundation to Honor Roberto Azevêdo, President George H.W. Bush and USTR Digital Trade Team

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Washington D.C. – On Wednesday, December 5th, the National Foreign Trade Council (NFTC) Foundation will host its annual World Trade Dinner and Awards Ceremony at the Andrew W. Mellon Auditorium in Washington D.C. 
 
This year, the annual NFTC World Trade Award will be presented to Roberto Azevêdo, Director General of the World Trade Organization, in recognition of his lifetime achievement in strengthening the rules-based world trading system. 
 
In addition, the NFTC will honor USTR’s Office of Services and Investment Digital Trade Team with the Trade Leadership for the Digital Age Award in recognition of their dedication to the promotion of America’s digital trade leadership. 
 
As part of a national day of mourning, the NFTC will also pay special tribute to President George H.W. Bush for his exemplary efforts to strengthen global alliances and build better trading relations for the United States.   
 
“It is not secret that this has been a decisive year in trade, and I am glad to be honoring a group of people who have worked tirelessly in defense of a system that has greatly benefitted the United States and has allowed our companies to prosper as part of the world economy,” said Rufus Yerxa, President of the NFTC.
 
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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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.
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NFTC Releases Statement on USMCA

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Washington D.C. – The National Foreign Trade Council (NFTC) today released a statement regarding the United States-Mexico-Canada Agreement (USMCA) signed this morning in Buenos Aires, Argentina. 
 
“The USMCA has a lot of significant improvements that will help the U.S. adjust to the 21st century global economy and we commend the Administration for finalizing a deal that maintains and expands the robust North American economy,”  said Rufus Yerxa, President of the NFTC. “However, the NFTC and its member companies are concerned about certain aspects of this agreement which we hope are addressed through the implementation process. We are also aware that there are significant challenges to getting this agreement through Congress, but it is vital that we do not erase the gains made over the past 23 years of North American integration.”

“Of utmost importance is the issue of unjustified steel and aluminum tariffs on our closest trading partners,” continued Yerxa. “These tariffs have no place in a new high standards agreement, and we will continue to urge the Administration to lift these tariffs so U.S. exporters can take full advantage of the benefits contained in the USMCA.” 
 
To read the full statement, click here. 
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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 hundreds of member companies through its offices in Washington and New York.
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Major Business and Agriculture Groups Call for Removal of Steel and Aluminum Tariffs on Canada and Mexico

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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

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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.”

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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 hundreds of member companies through its offices in Washington and New York.
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NFTC Statement on the United States-Mexico-Canada Agreement

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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.”

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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 hundreds of member companies through its offices in Washington and New York.
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NFTC Statement on Additional Tariffs on Imports from China

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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.”

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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 hundreds of member companies through its offices in Washington and New York.
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NFTC Statement on Preliminary U.S.-Mexico Trade Deal

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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.”

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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 hundreds of member companies through its offices in Washington and New York.
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NFTC Statement on Additional China Tariffs

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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.”

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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 hundreds of member companies through its offices in Washington and New York.
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