Category: Press Releases and Statements

NFTC Welcomes Progress Made in TPP Talks, Urges Negotiators to Maintain High Level of Ambition

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Washington DC – Today, the National Foreign Trade Council (NFTC) welcomed progress made in the Trans-Pacific Partnership (TPP) negotiations between the United States, Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam.

“We commend Ambassador Froman and his team of negotiators for continuing to make progress on this historic agreement. For the United States, the prospective long-term benefits of the TPP are numerous, from supporting jobs and economic growth to increasing investment,” said Bill Reinsch, President of NFTC. “With the potential to significantly expand U.S. trade and investment ties with the Asia-Pacific region, each step toward completing this agreement is a step in the right direction.”

The TPP aims to strengthen the U.S. trade relationship with six current free trade agreement (FTA) partners while opening new markets to five non-FTA partners. These 11 countries represent 15 percent of global trade.

“The TPP negotiations set out to build and strengthen trade relationships between the United States and the other 11 participating countries, while creating a new 21st century trade framework,” said Chuck Dittrich, Vice President of Regional Trade Initiatives for NFTC. “This is no easy task, but we are encouraged by the efforts of all the negotiators and trade ministers throughout this process. We urge negotiators to build on the momentum created by this latest ministerial meeting and maintain a high level of ambition to conclude the most comprehensive deal possible.”

 

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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Reinsch Comments on Proposed Senate COOL Amendments

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Washington DC – Today, National Foreign Trade Council (NFTC) President Bill Reinsch applauded Senator Pat Roberts for proposing an amendment to the highway bill that would result in the complete repeal of mandatory Country of Origin Labeling (COOL) in the United States. 

“We applaud Senator Roberts for leading the way on COOL reform by proposing an amendment that would repeal the current U.S. rules and ensure the United States remains in compliance with its World Trade Organization (WTO) obligations,” said Reinsch. “The United States has a long history of compliance with WTO rulings and should continue to pursue this standard in order to set an example for other countries.” 

Reinsch also voiced his concern for the proposed Stabenow-Hoeven amendment, which would implement a voluntary COOL regime. 

“The voluntary COOL regime Senators Stabenow and Hoeven have proposed ultimately falls short in bringing the U.S. COOL requirements into compliance with our WTO obligations. And Mexico and Canada have already stated they will pursue retaliation if the United States were to pass the Stabenow-Hoeven amendment into law,” he said. “With Canada able to implement retaliation as early as August 16, it is of the utmost urgency for the United States to act swiftly to repeal COOL.”

 

 

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 & USA*Engage Welcome Senate Appropriations Committee Approval of Cuba Amendments

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Washington DC–Today, the National Foreign Trade Council (NFTC) and USA*Engage welcomed Senate Appropriations Committee approval of a series of positive Cuba amendments.

“We applaud Senators Jerry Moran, Jon Tester and John Boozman for their leadership in sponsoring amendments that build on actions taken by the Administration to improve and strengthen U.S.-Cuba relations,” said Jake Colvin, NFTC Vice President for Global Trade Issues. “We also commend those senators who supported these amendments, which enable increased travel, trade and commerce between the two countries and the American and Cuban people – a priority we have long advocated.”

“Putting the relic of the unilateral U.S. embargo against Cuba behind us is in the strategic interests of both hemispheres, and today, we are pleased to see the Senate Appropriations Committee taking steps toward that ultimate goal,” said Richard Sawaya, Vice President of USA*Engage. “We will continue to work with members of Congress and the Administration to fully reestablish commercial and diplomatic relations with Cuba.”

The three amendments would 1) lift the travel ban to Cuba for one year; 2) end the requirement that ships having docked in Cuba wait 180 days before unloading in the United States; and 3) allow private financing of agricultural exports to Cuba.

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
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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New Survey Reveals Business Visa Challenges for Global Employers

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Washington DC – The National Foreign Trade Council (NFTC), in coordination with the Global Immigration Benchmarking Association (IBA) and Berry Appleman & Leiden LLP (BAL), has released the results of its 2015 Global Short-Term Business Travel Survey. 

“As the international marketplace and economy continue to grow, more and more American companies are engaging in business abroad, which has led to an increase in global short-term business travel,” said William Sheridan, NFTC Vice President for International Human Resources Services. “However, businesses face a series of complex visa rules and processes that make business travel more challenging. This survey aims to provide insight into industry practice when it comes to managing business travel that will help companies set their own policies.” 

The survey included responses from 150 companies across a variety of sectors, 60 percent of which reported their employees take over 500 international business trips annually.  

One-third of the companies said that an employee had been denied entry into a country, yet over half of the respondents do not have a formal business visa travel policy. 

The survey consisted of 17 questions and was distributed to NFTC, IBA and BAL members with employees who travel internationally for business purposes. 

 

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.

Organizations Express Concern Proposed Cyber Export Regulations Could Harm, Not Improve, U.S. Cybersecurity

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Washington DC – In a letter to Kevin Wolf, Assistant Secretary for Export Administration in the Department of Commerce’s Regulatory Policy Division of the Bureau of Industry and Security (BIS), the National Foreign Trade Council joined with nine other organizations to comment on the BIS proposed rule, Wassenaar Arrangement 2013 Plenary Agreements Implementation: Intrusion and Surveillance Items, released in the Federal Register on May 20, 2015.

In a letter sent yesterday, the organizations wrote:

 

 

 

“The goals of the Wassenaar Arrangement (WA) are constructive, and our organizations appreciate BIS’ attention to combating the proliferation of malicious and weaponized software. However, we have genuine concerns that if the proposed rule were to go into effect without substantial changes, it could harm rather than improve U.S. cybersecurity.

 

 

 

“We do not attempt to answer each question in the May 20 notice seeking comment. However, we try to explain why our organizations believe that BIS’ proposed rule is too expansive and the license requirements are overly strict. Our associations recommend that BIS narrows the breadth of cyber items that would be controlled and builds more flexibility into the rule’s conditions. We believe that the United States can meet the terms of the WA without sacrificing the prudence needed to make the proposal.

 

 

 

“… Our associations are committed to working with BIS officials and other policymakers to strengthen U.S. cybersecurity by advancing smart, effective, and efficient policies at home and globally. We appreciate the opportunity to comment on the bureau’s proposed rule. … We urge the BIS not to rush to finalize this proposed rule, which is unworkable in its current form. The proposed regime would tie the hands of businesses’ legitimate cybersecurity activities while malicious actors simply disregard compliance.”

Read the full letter, including specific concerns the organizations have with the proposed rule, here.

 

 

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 WTO Negotiators for Significant Progress on ITA

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Washington DC – The National Foreign Trade Council (NFTC) today welcomed news that World Trade Organization (WTO) negotiators reached a breakthrough in talks on the Information Technology Agreement (ITA). NFTC Vice President for Global Trade Issues Jake Colvin released the following statement.
“The National Foreign Trade Council welcomes news of significant progress toward updating and expanding the ITA, which could eliminate up to an estimated $1 trillion in tariffs on goods that underpin the ability of the global economy to function in the digital age.
“We hope that advancements over the weekend will pave the way for the conclusion of an ambitious agreement to remove obstacles to trade in information technology goods globally. For NFTC member companies, many of which have played an active role in helping to bridge differences and cement progress among negotiators, this weekend’s news is an important milestone. While no agreement is perfect, the talks have dragged on long enough, and it is time to conclude a deal.
“We commend U.S. and the other ITA negotiating parties as well as WTO Director General Roberto Azevedo for their tireless efforts over many years to arrive at this moment. NFTC values the Obama Administration’s long-held commitment to finalizing and implementing the agreement, as there is more work to be done.
“Once concluded, the ITA will be a significant achievement for the WTO and its members, enhancing the credibility of the institution’s negotiating function and reinforcing the role it continues to play in advancing the rules-based global trading system.”

 

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, USA*Engage Statement on P5+1 Nuclear Agreement

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Washington DC – Today, the National Foreign Trade Council (NFTC) and USA*Engage released the following statement on the P5+1 nuclear agreement with Iran.

“There is no doubt the agreement reached between the P5+1 and the Islamic Republic of Iran will be hotly debated by the U.S. Congress, presidential contenders and an array of policy experts. Many dimensions will inform viewpoints: nuclear proliferation, regional strife and its shifting proxy considerations principal among them.

“The NFTC and USA*Engage have supported the negotiations because we support engagement as the best solution to complex international problems and the one which will most likely take business interests into account. The commercial dimensions of Iran’s re-entry into the global economy, if sanctions are lifted pursuant to the agreement, are not trivial.

“In this regard, the NFTC and USA*Engage continue to advocate for parity in the treatment of U.S. companies and their European and Asian competitors. As the agreement is implemented, the commercial interests of U.S. companies will clearly be part of the U.S. national interest.”

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
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 Blog Post: “Stabenow Voluntary COOL Proposal”

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Washington DC–Today, in a blog post, titled “Stabenow Voluntary COOL Proposal,” Gideon Gross of the National Foreign Trade Council (NFTC), wrote:

“… With the Senate taking up COOL, Senator Debbie Stabenow (D-MI) has proposed a voluntary labeling system instead of the outright repeal proposed in H.R. 2393. Her proposal unfortunately continues to pose the risk of retaliatory tariffs being implemented by Canada and Mexico, the potential costs of which could be as much as $3.2 billion. Senator Stabenow proposes a COOL regime with a voluntary system in which companies can opt in or out, but the U.S. statutes for COOL which define “made in America” would remain in place. While this proposal seems like an appealing solution, it carries risk for U.S. businesses for a number of reasons.

“As a result of the WTO ruling, Mexico and Canada are permitted to impose retaliatory tariffs against the U.S. as soon as mid-August. If the U.S. enacts the Stabenow proposal and Mexico and Canada deem it noncompliant with WTO rules, they could impose retaliation. If the U.S. appealed their actions, it would take as long as two years for the appeal to wind its way through the WTO Dispute Settlement Body with U.S. companies having to cope with the retaliation throughout the period.

“Supporters of COOL have been quick to point out that both Canada and Mexico use a voluntary system of country of origin labeling. They argue if the U.S. were to implement a system similar to theirs, it could avoid retaliatory tariffs. The risk in this assumption lies in the details of the U.S. COOL statute, including transportation clauses, which differ from both the Canadian and Mexican statutes. …

“…Ultimately, the goals of the U.S. should be to comply with WTO rules and obligations and avoid any sanctions that could hurt U.S. businesses. Repealing COOL before the August deadline is the best way to achieve those objectives. Subsequently creating a voluntary program with Mexican and Canadian input would allow businesses to simultaneously differentiate their products on the global market, avoid potential losses from retaliatory tariffs and maintain a labeling regime that can give consumers information on the products they are buying. The Stabenow proposal points us in that direction, but does not fully do the job.”

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, SoFTEC and USCIB Express Concerns with BEPS

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Washington DC – Last week, in a letter to Treasury Secretary Jacob Lew, leaders of the National Foreign Trade Council (NFTC), Software Finance & Tax Executives Council (SoFTEC) and United States Council for International Business (USCIB) highlighted their concerns with the direction of the OECD/G-20 base erosion and profit shifting (BEPS) project.

In the letter, the group wrote:

“U.S. business has been constructively engaged in the BEPS project submitting comments, participating in public consultations, consulting with the US Treasury, the Congress, other governments, and the OECD. This effort has been directed at ensuring that the BEPS outcomes are appropriately targeted to genuine BEPS concerns and such outcomes are administrable by business and governments. At this stage we are concerned that the emerging outcomes are not sufficiently targeted, and will result in increased double taxation, complexity, costs and reduced cross-border trade and investment. In order to improve the outcome, we believe it is important that the U.S. Treasury continue to advocate strongly for clear, detailed agreement on international tax rules that are consistent with the initial goal of the BEPS project; that is, to ‘provide countries with domestic and international instruments that will better align rights to tax with economic activity.”

“… Currently, the proposed changes to the international tax standards are lacking in clarity and will permit countries to define their taxing jurisdiction as they wish without regard to the functions, assets and risks that take place in that country. Such an approach will allow tax auditors a great deal of flexibility in defining whether a taxpayer is subject to tax within a particular jurisdiction and if so how much income is subject to tax.

“Throughout the BEPS process, US business has been pressing for clarity. The lack of clarity and threat of double taxation will create uncertainty which will have a negative impact on global trade and investment.”

Read the full letter here.

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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