Category: Press Releases and Statements
U.S. Secretary of Commerce Penny Pritzker Awarded Trade Leadership in the Digital Age Award From National Foreign Trade Council
NFTC Statement on U.S.-EU Safe Harbor Framework Decision
Washington DC – In response to the decision by the European Court of Justice to invalidate the U.S.-EU Safe Harbor Framework, a longstanding policy bridge that permitted companies to transfer personal data of European citizens while ensuring privacy, National Foreign Trade Council (NFTC) President Bill Reinsch released the following statement:
“Government and business leaders on both sides of the Atlantic recognize that trade between the United States and the countries of the European Union is clearly and deeply mutually beneficial, and commerce in the 21st century involves numerous data-driven services and applications that support that trade in ways that are critical to consumers, entrepreneurs and businesses of all sizes.
“Appropriate protections for privacy and data security are likewise shared priorities, and nobody should lose sight of that fact due to process differences in how results are achieved.
“The National Foreign Trade Council joins others calling for quick and responsible follow up to the recent court ruling on the Safe Harbor to permit consumers and businesses on both sides of the Atlantic to continue to engage in commerce in a manner that benefits consumers and businesses of all sizes while at the same time ensuring proper data safeguards. This is an eminently achievable goal.”
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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TPP Agreement Reached – A Milestone in Rules Governing Trade and Investment in the Asia-Pacific Region
Washington DC – Today, the National Foreign Trade Council (NFTC) welcomed expected benefits to regional trade and investment from the conclusion of the Trans-Pacific Partnership (TPP) negotiations between the United States, Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.
“Through increased market access, the TPP we have supported has the potential to provide prospective long-term benefits that reach across the U.S. economy – from providing better jobs to increasing investment and economic growth. Through better rules and opening foreign markets further, an effective TPP agreement has the potential to improve the conditions for mutual trade and investment among countries accounting for 40 percent of world economic output,” said Bill Reinsch, President of NFTC. “We thank Ambassador Michael Froman and the team of negotiators for the years of strenuous effort to reach
“Given the range of economies involved and the subjects covered, followed by a strong Trans-Atlantic agreement, these agreements can transform the world trading system with wide-ranging benefits,” said Alan Wolff, NFTC Chairman.
“Through the TPP negotiations, the United States and other 11 member countries set out to define a model for trade in the 21st century, while also increasing global trade and investment in this important economic region,” said Chuck Dittrich, Vice President of Regional Trade Initiatives for NFTC. “We look forward to having the opportunity to examine the details of the completed deal in the coming weeks and providing our views on the specific provisions of the agreement during this process.”
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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