Press Releases and Statements Archives - Page 33 of 108

NFTC Applauds Oil Export, IMF Reform, COOL Provisions in Appropriations Bill

Posted on December 18, 2015 by dcadmin

Washington DC – National Foreign Trade Council (NFTC) President Bill Reinsch released the following statement today applauding House and Senate passage of the Consolidated Appropriations Act of 2016, an omnibus appropriations bill that includes provisions to lift the oil export ban, approve reforms to the International Monetary Fund (IMF) and repeal country-of-origin labeling (COOL) requirements for beef and pork.

“The spending bill approved today contains several provisions that are important to growing the economy and keeping America competitive in the global marketplace. Among them is the bipartisan agreement to repeal the ban on U.S. crude oil exports, a victory for open trade and geopolitical common sense.

“This bill also includes provisions to approve long overdue reforms to the IMF, which were agreed to five years ago on the international level. Today’s congressional action on these measures takes an important step toward rebalancing the IMF to include emerging economies and sends a critical signal to our international partners that the United States is prepared to meet its international obligations.

“Further, the repeal of COOL requirements is a wise decision by the U.S. Senate to comply with our international obligations. It not only demonstrates our nation’s commitment to a rules-based trading system, but also avoids costly retaliation from regional trade partners. Following years of inaction, we can finally put the dispute to rest and forge a more prosperous future for all of North America.”

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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 Urges Congress to Support PATH Extenders Package

Posted on December 16, 2015 by dcadmin

NFTC Welcomes Bilateral Agreement on ITA

Posted on December 16, 2015 by dcadmin

Washington DC – National Foreign Trade Council Vice President for Global Trade Issues Jake Colvin released the following statement today welcoming the U.S.-China bilateral agreement reached on the World Trade Organization (WTO) Information Technology Agreement (ITA).

“We commend U.S. Trade Representative Michael Froman and Minister of Commerce Gao Hucheng of China for reaching consensus on an agreement to move the ITA forward. Once complete, the ITA has the potential to eliminate an estimated $1 trillion in tariffs and improve the flow of information technology goods that underpin the participation of millions of innovators in the global economy.

“Completion of the ITA would mark a much-needed success for the WTO, and we hope that today’s positive step enables trade ministers to finalize negotiations during the Nairobi ministerial this week.”

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Reinsch Responds to WTO Ruling on COOL Retaliation

Posted on December 7, 2015 by dcadmin

Washington DC – Today, National Foreign Trade Council (NFTC) President Bill Reinsch issued the following statement in response to the World Trade Organization (WTO) announcement that Mexico and Canada may impose $1 billion of combined retaliatory tariffs on imported U.S. products as a result of U.S. country-of-origin labeling (COOL) rules.

“This decision by the WTO arbitrator is a vivid reminder of the costs of not complying with our international obligations. We have had literally years to fix this problem and have not done so, and now we face a billion dollar penalty. The House has acted responsibly by repealing the offending provision, and it is now time for the Senate to do the same thing without delay.”

The NFTC is a member of the COOL Reform Coalition, which advocates for U.S. compliance with WTO obligations.

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NFTC’s Tax Expert on BEPS: U.S. Business Concerns Remain Unresolved

Posted on December 1, 2015 by dcadmin

Washington DC – Today, in testimony before the House Ways and Means Tax Policy Subcommittee, National Foreign Trade Council (NFTC) Vice President for Tax Policy Catherine Schultz discussed the G-20 and OECD report on the Base-Erosion and Profit Shifting (BEPS) project.

Schultz highlighted key U.S. business community concerns related to the BEPS project, which remain unresolved:

“While the final BEPS report has been issued and endorsed by the G-20, the work is not complete. There are many issues that must still be dealt with in 2016 and the years ahead. Open items include work on implementing the tax treaty recommendations to date through the multilateral instrument, work on achieving consensus on the attribution of profits to Permanent Establishments (PEs), work on achieving a consensus on how to apply profit splits where appropriate, the implementation of rules on hard-to-value-intangibles, and the implementation of rules on the treatment of headquarter activities and other low-value adding services. …

“The NFTC is concerned about the general aggressive global tax enforcement environment. The BEPS report Action 11 analyzed base erosion and estimated how much is lost worldwide to aggressive tax planning. Interestingly, this analysis was not done prior to the start of the BEPS project, but only at the very end. If it was an objective concern, and not a political project, the amount of base erosion would have been examined at the outset of the project, not at the very end of it.”

In her testimony, Schultz also touched on the need for U.S. tax reform, stating:

“The NFTC believes the current U.S. tax law is outdated and must be modernized by enacting tax reform that reduces the U.S. corporate income tax to be more in line with our trading partners and adopts a competitive territorial tax system that does not disadvantage U.S. businesses competing in foreign markets. Competitive U.S. tax reform would address many of the concerns raised in the BEPS project.”

The full testimony can be found here.

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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.
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Statement of Catherine Schultz Vice President for Tax Policy, National Foreign Trade Council Before the House Ways and Means Tax Policy Subcommittee On December 1, 2015

Posted on December 1, 2015 by dcadmin

NFTC Submits Comments on Proposed OPT Extension

Posted on November 16, 2015 by dcadmin

NFTC Welcomes Release of TPP Text

Posted on November 5, 2015 by dcadmin

Washington DC – Today, National Foreign Trade Council (NFTC) President Bill Reinsch issued the following statement on the release of the text of the Trans-Pacific Partnership (TPP) agreement.

“We welcome the release of the TPP agreement – an agreement with vast potential to expand U.S. trade and investment opportunities for American exporters and workers with the Asia-Pacific region.

“We look forward to reviewing the details of the text released today to evaluate the many benefits we hope the agreement will yield.

“The NFTC applauds Ambassador Froman and his team for working tirelessly with their counterparts from the 11 other TPP countries to reach an agreement and to release the text in a timely manner.”

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NFTC Announces Departure of Vice President James Wilkinson

Posted on October 28, 2015April 11, 2025 by dcadmin

Washington, D.C. – Today, the National Foreign Trade Council (NFTC) announced the departure of James Wilkinson, Vice President for Strategy and Growth. Wilkinson headed NFTC’s business development efforts, including marketing, communications and membership growth. In addition, Wilkinson coordinated with the Board of Directors, organized the NFTC Foundation’s annual World Trade Dinner and led the promotional activities and events surrounding the organization’s 100th anniversary last year.

“I want to thank James for his leadership and contributions to NFTC over these last couple of years – most notably, for his role in heading the centennial celebratory activities for the NFTC Foundation,” said NFTC President Bill Reinsch. “James has been an invaluable addition to our staff, and he will be greatly missed.”

Wilkinson joined NFTC in April 2013 after serving as Executive Director of the Washington International Trade Association since 2003. His last day at the NFTC will be Friday, October 30.

“I have enjoyed the time I’ve spent with NFTC. I am proud to have been a part of the centennial celebration, a milestone in the organization’s impressive history,” said Wilkinson. “I turn now to my next adventure, leading a growing, nationwide professional society in the medical field. I look forward to serving the members there, while pushing myself professionally in my new capacity.”

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NFTC Applauds House Vote to Reauthorize Ex-Im Bank, Urges Swift Action in Senate

Posted on October 27, 2015 by dcadmin

Washington, DC – Today, National Foreign Trade Council (NFTC) President Bill Reinsch issued the following statement applauding House approval of legislation to reauthorize the Export-Import Bank of the United States (Ex-Im Bank).

“Today’s vote to reauthorize the Ex-Im Bank’s charter in the House is a welcome step toward reinstating this important institution and securing U.S. jobs, export potential and economic growth.

“For more than 70 years, the Ex-Im Bank has been effective in providing critical financing to U.S. companies acting in an increasingly competitive global economy. Since the Bank’s charter expired at the end of June, we’ve already seen the implications for U.S. jobs and businesses across the economy. Today’s action signals important forward movement toward addressing the many negative effects of the lapse of the Bank’s charter.

“We applaud members of the House for their support and urge the Senate to act swiftly to deliver a bill to the President’s desk and put the Ex-Im Bank back in business without further delay.”

Yesterday, NFTC President Bill Reinsch sent a letter to members of the House urging their support of H. Res. 450 and the Fincher-Kirk-Heitkamp reauthorization of the Export-Import Bank.

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