Category: Press Releases and Statements
USA*Engage Urges House to Oppose Unilateral Iran Sanctions Legislation
Washington, DC – Today, Richard Sawaya, Director of USA*Engage and National Foreign Trade Council Vice President, urged members of the U.S. House of Representatives to oppose pending unilateral Iran sanctions legislation, including H.R. 4992, the U.S. Financial System Protection Act of 2016; H.R. 5119, the No 2H20 From Iran Act; and H.R. 5631,the Iran Accountability Act of 2016. Sawaya released the following statement:
“USA*Engage opposes House passage of H.R. 4992, H.R. 5119, and H.R. 5631. The legislation would subvert U.S. compliance with the Joint Comprehensive Plan of Action (JCPOA) and further disadvantage U.S. companies vis-à-vis foreign competitors with respect to commerce with Iran.
“Ironically, the House floor vote is scheduled for the one year anniversary of Implementation Day under the JCPOA. No one disputes that Iran has met its commitments under the JCPOA, which is exclusively about Iran’s nuclear program. It is also the case that under the terms of the JCPOA, U.S. companies are placed at a virtually insuperable disadvantage regarding commerce with Iran, precisely because of the remaining U.S. unilateral sanctions on Iran, which are outside the scope of the JCPOA.
“The United States and Iran remain mutually official adversaries, with apparently deep conflicts about Iran’s conduct in the region and about the Iranian government’s treatment of its citizens. But the JCPOA was negotiated between Iran and the members of the UN Security Council plus Germany. It has global warrant. To the degree that economic pressure brought Iran to negotiate the JCPOA, it was because the pressure was brought multilaterally under UN auspices.
“We urge Congress to respect the Administration’s conduct of foreign policy. Common sense would argue for continuity in a presidential election year and forbearance regarding enactment of laws that would bind the next administration’s foreign policy development and further hobble U.S. companies.”
About USA*Engage
USA*Engage (www.usaengage.org) is a coalition of small and large businesses, agriculture groups and trade associations working to seek alternatives to the proliferation of unilateral U.S. foreign policy sanctions and to promote the benefits of U.S. engagement abroad. Established in 1997 and organized under the National Foreign Trade Council (www.nftc.org), USA*Engage leads a campaign to inform policymakers, opinion leaders, and the public about the counterproductive nature of unilateral sanctions, the importance of exports and overseas investment for American competitiveness and jobs, and the role of American companies in promoting human rights and democracy worldwide.
About the NFTC
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 Applauds New Trade Enforcement Action Against China
Washington DC – Today, the National Foreign Trade Council (NFTC) welcomed news that the United States has launched a new trade enforcement action at the World Trade Organization (WTO) against China regarding its export duties on nine raw materials.
“We applaud the Administration for taking strong action to ensure China fulfills its WTO obligations,” said NFTC President Rufus Yerxa. “The action taken today also helps ensure a level playing field for U.S. manufacturers, who use the raw materials in question – from copper to tin – to produce goods exported the world over, supporting U.S. economic growth and jobs.”
“The use of export duties by our competitors impacts the ability of U.S. companies to compete globally, and constitutes the kind of unfair subsidy practice we should be challenging vigorously in the WTO,” said Yerxa.
About the NFTC
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 & USA*Engage Welcome Senate Appropriations Committee Passage of Cuba Amendments
Washington, DC – Today, the National Foreign Trade Council (NFTC) and USA*Engage welcomed Senate Appropriations Committee approval of a series of positive Cuba amendments. Richard Sawaya, NFTC Vice President and Director of USA*Engage, released the following statement:
“We applaud Senators Boozman, Tester, Leahy, Moran, Udall and Collins for their leadership in offering amendments to the FY 2017 appropriations bill that further build on efforts to strengthen U.S.-Cuba relations.
“Steps forward such as those taken through Senate Appropriations Committee approval of these amendments are the foundation upon which the United States can work to fully reestablish commercial and diplomatic relations with Cuba.
“We look forward to working with members of Congress and the Administration on these incremental advances, with the ultimate goal of putting an end to the unilateral U.S. embargo.”
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About the NFTC
USA*Engage (www.usaengage.org) is a coalition of small and large businesses, agriculture groups and trade associations working to seek alternatives to the proliferation of unilateral U.S. foreign policy sanctions and to promote the benefits of U.S. engagement abroad. Established in 1997 and organized under the National Foreign Trade Council (www.nftc.org), USA*Engage leads a campaign to inform policymakers, opinion leaders, and the public about the counterproductive nature of unilateral sanctions, the importance of exports and overseas investment for American competitiveness and jobs, and the role of American companies in promoting human rights and democracy worldwide.
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 Applauds Ministers’ Resolve at OECD to Conclude an Environmental Goods Agreement, Urges Conclusion by G-20 Summit
Washington DC – National Foreign Trade Council (NFTC) Vice President for Global Trade Issues Jake Colvin released the following statement in response to meetings by trade ministers and senior officials in Paris at the Organization for Economic Cooperation and Development (OECD) in Paris:
“NFTC commends trade ministers from Australia, Canada, the European Union, Japan, Korea, New Zealand and the United States for the important marker they laid down today at the OECD to conclude an ambitious Environmental Goods Agreement this year. This meeting is another step toward concluding the agreement in 2016.
“All EGA negotiators must double down on efforts to land an agreement ahead of the G-20 Summit this September in Hangzhou. Letting the agreement languish would delay the economic and environmental benefits of a deal. We urge negotiators to finalize a pathway for conclusion during China’s host year.”
About the NFTC
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:
ITC Report an ‘Important Milestone’ in TPP Process
Washington DC– The National Foreign Trade Council(NFTC) today welcomed the U.S. International Trade Commission (ITC) report on the Trans-Pacific Partnership (TPP).
“The release of the ITC report on the TPP should help to pave the way for Congressional approval of the agreement,” said NFTC President Rufus Yerxa. “As with all trade agreements, there are sectors that stand to benefit more than others, but overall this report supports the proposition that the TPP is in our overall national interest. It will have positive benefits in increasing exports and promoting the competitiveness of American companies. It is also important to remember that much of the ITC’s analysis rests on measuring the benefits of tariff elimination, and this is only part of the story. The broader and more long-term benefits of the TPP flow from the creation of a more level playing field, with new rules and disciplines in areas such as the digital economy, services trade, intellectual property and state-owned companies. These new and more dynamic non-tariff rules will help to shape trade and investment throughout the Asia Pacific in a manner more consistent with the long-term goal of achieving freer but fairer trade.”
“The TPP is a critically important agreement that will help to expand U.S. access to an increasingly diverse and competitive market, and we are committed to working with policymakers to pass TPP this year,” said Chuck Dittrich, NFTC Vice President for Regional Trade Initiatives. “The ITC report also reminds us that programs of worker adjustment and training along with robust enforcement mechanisms are critical pillars of U.S. trade policy, and the NFTC and its members support Administration and Congressional commitment in these areas to ensure that the United States fully realizes the opportunities created by the TPP.”
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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.
Leading Business Groups Express Concern Over Economic Impact of Treasury’s Proposed Section 385 Regulations
Washington DC– TheNational Foreign Trade Council(NFTC) joined more than 20 other leading business associations today in sending a letter to U.S. Secretary of the Treasury, expressing concerns about the agency’s proposed debt-equity regulations under Internal Revenue Code Section 385 (the “proposed 385 regulations”). In the letter to Secretary Lew, the associations cautioned that the proposed regulations would negatively impact U.S. businesses, jobs and the economy.
The groups wrote:
“The proposed guidance, which overturns long-standing tax principles and well-established case law and regulations, will significantly increase the cost of doing business in the United States, and create further obstacles to much needed investment, job creation and economic growth. Because of the significant and disruptive impact of the proposed 385 regulations on critical business operations of a wide swath of employers in the United States, we respectfully request that, at a minimum, Treasury:
- “Change the effective date for the proposed debt-equity recharacterization rule from applying to debt instruments that are issued on or after April 4, 2016, and instead apply the rule to debt instruments that are issued on or after the date that is 90 days after the proposed regulations are finalized;
- “Extend the public comment period fromJuly 7, 2016, toOctober 5, 2016, at the earliest; and
- “Dedicate adequate time and resources for a thorough review and analysis of the public comments on the proposal.”
In addition,NFTC Vice President for Tax Policy Cathy Schultz said, “The proposed regulations will affect the financing structure of almost every NFTC member company. Without a delay in the comment period, we are concerned that companies have little time to determine how the proposed regulations will affect them and then develop comprehensive comments that will reflect their concern about these proposed regulations.”
Schultz continued, “We also believe that theApril 4effective date should be delayed so that it does not negatively affect company investment before the regulations are finalized. Eliminating the retroactive effective date and extending the comment period would ensure that the comments that Treasury and IRS receive reflect company concerns, and will give the IRS and Treasury information on the economic impact that the proposed regulations will have on job growth and investment in the United States.”
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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.
NFTC Applauds Senate Passage of MTB Bill
Washington DC – The National Foreign Trade Council (NFTC) today applauded Senate passage of the American Manufacturing Competitiveness Act of 2016, legislation that will help protect the trade secrets of American companies.
“For companies of all sizes, the miscellaneous tariff bill process is a practical mechanism that preserves American jobs and investment and increases the competitiveness of U.S. manufacturing,” said NFTC President Rufus Yerxa. “We look forward to the President signing it into law.”
“We applaud the Senate for passing this legislation, which will reform and modernize the miscellaneous tariff bill process in a way that achieves bipartisan support needed for congressional passage,” said Chuck Dittrich, NFTC Vice President for Regional Trade Initiatives.
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 Blog Post: “The Art of the Leak”
Washington DC–Today, in a blog post, titled “TPA: Power to the People,” Bill Reinsch, President of theNational Foreign Trade Council (NFTC), wrote:
“Once again, to the surprise of nobody, the anti-trade folks are demonstrating their skill at the art of the leak – find and make public documents that reveal government positions, exaggerate the significance of both the documents and the positions, attack the positions knowing that government cannot fully respond without breaching its own confidentiality rules, and then conclude that the entire agreement under negotiation is fatally flawed.
“It’s a clever strategy – although it has yet to be successful – because it puts government on the defensive, distracts the negotiators, and slows down the process, thereby creating more time for new attacks. Unfortunately, it badly distorts the debate and focuses it away from the real issues.
“First and most important, trade negotiating documents reflect each side’s positions. Do they agree? Of course not. If they did, there wouldn’t be anything to negotiate. Are they overstated? Of course they are. Governments take more extreme positions in order to give themselves maneuvering room as the process moves on. The negotiating process is about narrowing those differences, or in some cases it’s about acknowledging that differences cannot be reconciled and moving on to other topics. Making these documents public rarely produces surprises, since governments’ positions are generally well known.
“For example, see Public Citizen’s comment on the most recent Transatlantic Trade Partnership (TTIP) leak: ‘Taken in their entirety, the U.S. proposals are affirmatively hostile to the precautionary principle.’ There’s a surprise. The United States has opposed the precautionary principle in multiple fora for decades. It’s a Luddite affectation designed to disguise protectionism.”
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 Applauds House Passage of Legislation to Protect Trade Secrets
Washington DC –The National Foreign Trade Council (NFTC) today applauded House passage of the Defend Trade Secrets Act of 2016, legislation that will help protect the trade secrets of American companies.
“For companies of all sizes, trade secrets are a critical part of their intellectual property, and this bill will help protect them. This legislation also will strengthen the U.S. government’s hand when negotiating with other nations to ensure adequate trade secrets protection for U.S. companies in those countries, including in trade negotiations,” said Jake Colvin, NFTC Vice President for Global Trade Initiatives and Executive Director of its Global Innovation Forum.
“We commend members of the House on both sides of the aisle for working together to pass this important legislation, and we look forward to the President signing it into law,” said Colvin.
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:
