Press Releases and Statements Archives - Page 27 of 107

NFTC Applauds Introduction of Bipartisan Senate Cuba Travel Bill

Posted on May 25, 2017 by dcadmin

Washington D.C. – The National Foreign Trade Council (NFTC) applauds the introduction of the Freedom for Americans to Travel to Cuba Act of 2017 by Senators Jeff Flake (R-AZ) and Patrick Leahy (D-VT) with a bi-partisan majority of their colleagues.

Americans in both parties overwhelmingly support repealing the legislative bar to their right to travel freely to Cuba. Repealing the legislative travel ban will further U.S. national interests in the hemisphere; promote the economic and cultural ties that exist between the U.S. and Cuba, and encourage a shared commitment to addressing national security concerns of both countries.

“A Senate vote to repeal the travel legislative ban will reinforce U.S. commitment to normalizing diplomatic, commercial, and civic engagement between the U.S. and Cuba and further U.S.-Cuba relations appropriate to the 21st century,” said Richard Sawaya, Vice President of the NFTC.

“Many Americans would likely be surprised to learn that their government still restricts their right to travel,” said Jake Colvin, Vice President for Global Trade Issues at NFTC. “Ending the travel ban would remove this ridiculous limitation and promote connections with Cuban entrepreneurs and communities. We encourage Congress and President Trump to act swiftly on the Senators’ initiative.”

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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 Administration’s Intent to Modernize NAFTA

Posted on May 18, 2017 by dcadmin

Washington D.C. – National Foreign Trade Council (NFTC) President Rufus Yerxa issued the following statement regarding the notification to Congress today of the Administration’s intent to initiate negotiations regarding modernization of the North American Free Trade Agreement (NAFTA):

“Since its inception, NAFTA has brought enormous benefits to, and boosted economic growth in, all three countries. Canada and Mexico are the largest export markets for U.S. goods, making consumers in these markets vital to American exporters.

“It’s critical to get to an outcome that builds upon NAFTA’s success in creating a more open North American market. This modernization must strengthen America’s competitiveness in the global economy rather than impose new barriers.

“NFTC and our member companies are prepared to work closely with U.S. negotiators to identify key potential gains for the United States from a modernization of the agreement. A stronger NAFTA is vital for the U.S. economy as well as for U.S. workers, service providers, farmers and ranchers, and consumers.”

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NFTC Comment Regarding Causes of Significant Trade Deficits for 2016, Docket Number DOC 2017-0003

Posted on May 10, 2017 by dcadmin

Optimism for Comprehensive Tax Reform Hits New High in Survey by Miller & Chevalier and the National Foreign Trade Council

Posted on April 6, 2017 by dcadmin

Washington, DC – Miller & Chevalier Chartered and the National Foreign Trade Council (NFTC) today announced the results of their 2017 Tax Policy Forecast Survey, which reveals for the first time in 11 years significant optimism for comprehensive tax reform from leading tax executives at U.S. and foreign-based companies.

“The Republican sweep of the 2016 elections combined with continued work on the proposal released by the House Republican Tax Reform Task Force in June of 2016 has our respondents more confident than ever before that comprehensive tax reform will be enacted,” said Miller & Chevalier Member and Tax Department Vice Chair Marc Gerson, former majority tax counsel to the House of Representatives Committee on Ways and Means. “Nevertheless, our respondents are still uncertain as to the net impact of a comprehensive tax reform package on their businesses in light of the significant revenue-raising provisions, such as the border adjustment tax, that are being considered.”

Respondents believe President Trump will play a larger role in influencing tax policy than they expected President Obama would in previous years. In 2016, President Obama was seen as a distant third behind Speaker of the House Paul Ryan and House Committee on Ways and Means Chairman Kevin Brady. This year, President Trump scored near-equal to Speaker Ryan and higher than Chairman Brady.

Respondents this year also believe it is no longer a question of if tax reform happens, but when. When asked in January what they think the Trump Administration’s top priorities will be for 2017, respondents said repealing and replacing the Affordable Care Act would be the top priority. However, in light of the failed House attempt to pass the American Health Care Act in late March, comprehensive tax reform appears to have moved up the agenda.

“Now that the health care debate has been set aside, tax reform is the top legislative priority of both Congress and the Administration,” said Cathy Schultz, National Foreign Trade Council Vice President for Tax Policy. “We are hopeful that this renewed focus will result in a comprehensive tax reform package getting over the finish line.”

Survey Highlights

• Respondents are concerned with provisions that raise revenue, but they also see the need and potential for tax reform. 42 percent of respondents rank the high statutory tax rate and 33 percent of respondents rank taxation of worldwide income as the top area of business tax concern, both of which would be alleviated by measures outlined in the House Republican Tax Reform Task Force “Blueprint.”

• 42 percent of respondents expect 25 percent to be the top corporate tax rate – 5 percentage points higher than proposed in the Blueprint. This suggests some skepticism that Congress will be able to enact a rate as low as 20 percent.

• A third of respondents expect 33 percent to be the top individual tax rate. This is consistent with the Blueprint, which suggests respondents have faith that Congress can reduce the top individual rate to that level.

• Not surprisingly, a third of respondents said Republican control of both chambers of Congress will be the factor that most positively impacts tax policy in 2017. However, 26 percent of tax executives still see the lack of bipartisan support as the greatest impediment to reform. Republicans do not have a filibuster-proof majority in the Senate, and while reconciliation is a possibility, it comes with limitations. Some respondents may think that a bipartisan effort, similar to the successful effort in 1986, will be necessary.

• 22 percent of tax executives say the most important measure they are watching with respect to reform is the border adjustment proposal in the Blueprint, followed closely by an insufficient reduction in the statutory rate (21 percent) and limits on interest deductibility (20 percent).

A full copy of the survey results and analysis are available here. A link to the survey results infographic is available here.

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About Miller & Chevalier
Founded in 1920, Miller & Chevalier is a Washington, DC law firm with a global perspective and leading practices in Tax, Employee Benefits (including ERISA), International Law and Business, White Collar and Internal Investigations, Complex Litigation, and Government Affairs. In an era of big law, Miller & Chevalier is a top-ranked firm sharply focused on targeted areas that interact with the federal government. Over the past three years, the firm’s lawyers have represented more than 40 percent of the Fortune 100, one-quarter of the Fortune 500 and approximately 30 percent of the Global 100. Based in Washington, DC, a significant number of firm lawyers have held senior positions in the U.S. government and have written many of the regulations they currently help clients navigate. For more information on the firm, visit www.millerchevalier.com.

CONTACTS:

Marc Gerson, Vice Chair, Tax Department, Miller & Chevalier, 202.626.1475
Catherine Schultz, Vice President, Tax Policy, National Foreign Trade Council, 202.887.0278, ext. 2023
Aggie Howland, Media Relations, Greentarget, 312.252.4114

NFTC, CEE Release Comparative ECA Finance Graph

Posted on March 22, 2017 by dcadmin

Washington D.C. – The National Foreign Trade Council (NFTC) and the Coalition for Employment through Exports (CEE) today released a ‘Comparative ECA Finance Graph,’ comparing export credit agency (ECA) and market windows financing provided by major exporting countries in 2015 in support of their national exporters.

The ECA graph, based on data from the Export-Import Bank 2016 Competitiveness Report, underscores the gross disparity between U.S. export financing support and government export financing support provided by other countries, most significantly China, whose export financing volumes in 2015 were more than 40 times that of the United States.

“Fair trade and American jobs depend fundamentally upon maintaining a competitive balance in trading relationships” said Rufus Yerxa, President of the NFTC. “This data shows the extent to which our competitors are outspending the U.S. on export financing programs. Giving our exporters a level-playing field so they can compete globally and continue to create jobs is a key component of our economy. The Ex-Im Bank has supported U.S. exporters for decades, and it must not be relegated to the sidelines.”

John Hardy, President of CEE said: “The U.S. cannot sustain this imbalance without losing exports and the jobs they support. Both Houses of Congress understood this when the Ex-Im Bank was reauthorized by super-majorities in 2015. Currently, there are $30 billion in export transactions greater than $10 million in the Ex-Im Bank awaiting action. Those exports support more than 200,000 jobs in the U.S., and they cannot be supported without a fully functioning Ex-Im Bank.”

The NFTC and the CEE urge Congress and the Administration to support U.S. exporters and encourage job creation by addressing the Bank Board quorum issue, enabling the Ex-Im Bank to fulfill its potential as an export driver.

To view the graph mentioned above, please click here or copy and paste the following link into your web browser: http://bit.ly/2nBLjXD.

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NFTC Responds to the President’s Address to Congress

Posted on March 1, 2017 by dcadmin

Washington D.C. – National Foreign Trade Council (NFTC) President Rufus Yerxa issued the following statement in response to President Trump’s address to a joint session of Congress.

“Last night the President focused on the importance of growing the American economy and creating jobs across our country. “We welcome the President’s remarks on the importance of reforming our tax code so that American companies can compete on a level playing field across the world. Reforming the tax code, and lowering corporate tax rates, will incentivize companies to grow their businesses and invest in the United States, therefore creating higher wages and living standards for people across the country.

“We also applaud the President’s focus on rebuilding our country’s infrastructure. Investing in our ports, roads, bridges, airports, railways and other essential infrastructure projects will create jobs and will go a long way in ensuring competitiveness for U.S.-based companies who export products across the world.

“A competitive tax code and improved infrastructure will not help our companies compete abroad unless the United States continues to participate in the global trading system. Most sectors in our economy have benefited from increased trade. Since 95% of consumers live outside of our borders, continuing to open new world markets and giving our companies access to those consumers is crucial to our economic success. We also believe that the new Administration must focus on strengthening and expanding existing trade agreements and ensuring U.S. leadership in an open and rules-based global economy through multilateral institutions such as the World Trade Organization (WTO).

“In 2017, the National Foreign Trade Council looks forward to working with Congress and the Administration to implement forward-looking policies that improve the competitiveness of our businesses and the lives of our people.”

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NFTC Welcomes Appointment of Roberto Azevedo to Second Term as WTO Director General

Posted on February 28, 2017 by dcadmin

Washington D.C. – Today, the National Foreign Trade Council (NFTC) issued the following statement welcoming news that Roberto Azevedo has been appointed to a second term as Director General of the World Trade Organization (WTO).

NFTC President Rufus Yerxa said:

“The National Foreign Trade Council welcomes today’s announcement that Roberto Azevedo has been appointed as Director General of the WTO for a second term. As Director-General, Azevedo has put an important focus on the role of promoting global engagement among small and medium-sized businesses to improve economic development, and his first term was marked by successes that would not have been possible without his leadership, including the conclusion and implementation of the Trade Facilitation Agreement and the conclusion of an updated Information Technology Agreement.”

“Despite the difficult global environment today on trade issues, he is as experienced and capable a chief as the WTO could hope for.”

NFTC Vice President for Global Trade Issues Jake Colvin said:

“Director-General Azevedo has done a tremendous job of putting points on the board for the WTO. Over the next four years, his unique diplomatic skill set will be called upon frequently as WTO members grapple with the best way to shape new global rules on everything from agriculture to digital trade.”

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NFTC Sends Letter to Senate in Support of Lighthizer Nomination

Posted on February 23, 2017 by dcadmin

NFTC Applauds Entry into Force of WTO Trade Facilitation Agreement

Posted on February 22, 2017 by dcadmin

Washington D.C. – The NFTC today released the following statement applauding the entry into force of the World Trade Organization (WTO) Trade Facilitation Agreement (TFA) reached in Bali, Indonesia on December 7, 2013.

NFTC President Rufus Yerxa said:

“The National Foreign Trade Council welcomes news that the Trade Facilitation Agreement will enter into force now that two-thirds of WTO members have ratified the agreement and deposited their instruments of acceptance with the WTO Secretariat. This agreement will go a long way in modernizing global trade rules and is particularly important in increasing participation of small businesses in the global trading system. The benefits of the TFA cannot be overstated.”

NFTC Vice President for Global Trade Issues Jake Colvin said:

“Implementation of this agreement brings potentially enormous economic benefits to countries around the world by reducing the costs and time it takes for countries to import and export products. The agreement is a win-win for development and business, and is a great example of the role the WTO can play in facilitating the adoption of frameworks that permit developing countries to participate more effectively in the global marketplace.”

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Jason Pack Joins the NFTC as Executive Director of the U.S.–Libya Business Association

Posted on February 7, 2017October 7, 2022 by dcadmin

The National Foreign Trade Council (NFTC) announced today that Jason Pack will join the organization as Executive Director of the U.S.-Libya Business Association (USLBA) effective February 1st. In this role, Jason will be responsible for working to enhance the U.S.-Libya bilateral relationship.

In announcing the appointment, NFTC President Rufus Yerxa said, “Jason brings an incredible amount of knowledge about the importance of the diplomatic, commercial, and academic ties between Libya and the United States. He has a strong record of working to improve the relationship between our two countries. He will be a great addition to the NFTC and USLBA teams.”

George Kalantzakis, Chairman of the USLBA, said “We are delighted that Jason will be taking the helm of the USLBA. He is widely recognized as an expert in the field and he brings over a decade of hands-on experience to this position. The relationship between the United States and Libya is constantly evolving, and Jason will be a great asset to business communities in both countries as we work to continue expanding our economic ties.”

After living in Tripoli in 2008, he served as US-Libya Business Association (USLBA) Program Manager in 2009-10. Via his consultancy, Libya-Analysis, established in 2011, Jason produces bespoke reports for Western companies which monitor specific aspects of the political and security situation in Libya, while also providing big-picture forecasting. Since 2014, he has been an affiliated North Africa Analyst at Risk Intelligence. In 2015, Jason founded EyeOnISISInLibya.com, a non-profit 501c3 monitoring service detailing the group’s history, its interactions with other jihadi actors, and Western actions towards the group. In 2016, he became the Senior Libya Analyst at CRCM North Africa. Jason has authored and edited several books and think tank reports on Libya, and his analysis and opinion articles have appeared in The New York Times, The Wall Street Journal, The Spectator, Newsweek, The Financial Times, The Guardian, Foreign Policy, and Foreign Affairs. He is also a frequent commentator on the BBC, France 24, CNN, VOA, and Al Jazeera.

Jason completed an M.St. in Global and Imperial History at St. Antony’s College, Oxford and is affiliated with the University of Cambridge, where he was a PhD student and researcher of Middle Eastern History.

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