Press Releases and Statements Archives - Page 34 of 106

NFTC & USA*Engage Statement on Reestablishment of Embassies in Cuba and the United States

Posted on June 30, 2015 by dcadmin

Washington DC. – The National Foreign Trade Council (NFTC) and USA*Engage today released the following statement:

“Last week in Cuba we observed a desire for closer economic and diplomatic relations from the Cuban government and the Cuban people. This announcement brings the United States and Cuba an important step closer to normalizing relations,” said Jake Colvin, Vice President for Global Trade Issues, NFTC. “President Obama, Secretary Kerry and a number of congressional leaders deserve great credit for enabling a new day for relations with Cuba. We look forward to working with the Obama Administration and Congress to remove remaining impediments to normal economic relations.”

“This is a momentous and critical step forward in U.S.-Cuba relations. We applaud the Administration and key members of Congress for all of their continued efforts to restore normalized relations,” said Richard Sawaya, Vice President, USA*Engage.

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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, SoFTEC and USCIB Express Concerns with BEPS in Letter to Secretary Lew

Posted on June 25, 2015 by dcadmin

NFTC Applauds Senate Passage of TPA, TAA & Preferences

Posted on June 24, 2015 by dcadmin

Washington DC – Today, National Foreign Trade Council (NFTC) President Bill Reinsch issued the following statement applauding Senate action on critical bipartisan trade legislation – Trade Promotion Authority (TPA), Trade Adjustment Assistance (TAA) and trade preference programs.

“Today’s Senate passage of TPA legislation marks an important milestone as we work to complete a series of important international trade agreements that will benefit U.S. businesses, farmers and workers.

“With 95 percent of the world’s consumers abroad, TPA provides U.S. trade negotiators with the tools needed to secure trade agreements that enable U.S. businesses and farmers to reach those consumers, something that is increasingly important in today’s competitive global marketplace.

“Additionally, we are encouraged by the Senate’s passage of legislation reauthorizing the trade preference programs, as well as TAA, which ensures U.S. workers displaced by trade are given the opportunity to acquire new skills and find alternative employment. Both TAA and preferences are crucial components of U.S. trade policy, and we call on the House to pass the bill and get it to the President’s desk for signature.”

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 Joins More Than 600 Organizations in Urging Support for Trade Preferences Programs

Posted on June 24, 2015April 11, 2025 by dcadmin

Organizations Call on Congress to Pass Trade Preferences Extension Act of 2015

Washington DC – Today, the National Foreign Trade Council (NFTC) joined with more than 600 companies and associations in sending a letter to the Hill urging support for the Trade Preferences Extension Act of 2015 (H.R. 1295). The legislation renews the Generalized System of Preferences (GSP) program and extends the African Growth and Opportunity Act (AGOA) and special trade preferences for Haiti – three critical components of U.S. trade policy.

In a letter sent to all members of Congress this morning, the organizations wrote:

“GSP expired nearly two years ago, on July 31, 2013. Since then, American companies have paid about $2 million a day – nearly $1.3 billion total – in higher taxes while awaiting congressional reauthorization of the GSP program. The mounting costs and uncertainty associated with congressional delay in renewing GSP have had a chilling effect on American businesses and workers.

“… AGOA expires in less than four months. While products entering the United States from AGOA beneficiary countries continue to receive duty-free benefits, orders being placed now will arrive well after those benefits are set to expire. The time for a seamless AGOA renewal is long past, and as the deadline approaches more and more companies are canceling or delaying orders.

“… Finally, H.R. 1295 extends special trade preferences for Haiti, the poorest country in the Western Hemisphere, through September 30, 2025. Enacting a long-term renewal now ensures that Haiti, like African countries under AGOA, does not lose crucial trade and investment opportunities because of the threat of pending expiration.”

NFTC Calls on Senate Ag Committee to Support Repeal of COOL Requirements

Posted on June 24, 2015April 11, 2025 by dcadmin

Washington DC–Today, National Foreign Trade Council (NFTC) President Bill Reinsch encouraged members of the Senate Committee on Agriculture, Nutrition and Forestry to support the repeal of Country of Origin Labeling (COOL) requirements on beef, pork and chicken as soon as possible.

In a letter sent this afternoon, Reinsch wrote:

“Repealing COOL will ensure the United States remains in compliance with its multilateral commitments. The World Trade Organization (WTO) has on four separate occasions ruled against U.S. laws on COOL on beef and pork products, most recently on May 18, 2015. The WTO has repeatedly found that COOL laws violate our most-favoured-nation commitments at the WTO … .

“TheMay 18ruling against COOL makes it more important than ever for the United States to show its commitment to the multilateral trading system and the WTO. The potential for retaliatory tariffs by some U.S. trading partners were it to continue to ignore the WTO ruling is counterproductive to U.S. interests. Such retaliation would have immediate and widespread detrimental effects on companies, including those in food, agriculture and manufacturing.

“More important, however, is the fact that the United States has a long history of compliance with WTO rulings, a record that helps us convince other countries they should do the same when they act in a way inconsistent with their obligations.”

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NFTC Sends Letter to Senate Agriculture Committee to Support Repeal of COOL Requirements

Posted on June 24, 2015 by dcadmin

NFTC, USKZBA Applaud Completion of WTO Accession Talks for Kazakhstan

Posted on June 23, 2015 by dcadmin

Washington DC – Today, the National Foreign Trade Council (NFTC) and the U.S.- Kazakhstan Business Association (USKZBA) welcomed the completion of accession talks between the World Trade Organization (WTO) and Kazakhstan.

“Yesterday’s formal approval of Kazakhstan’s accession package marks a historic moment for the country and its people,” said Bill Reinsch, President of NFTC. “For U.S. businesses, Kazakhstan’s accession represents real reforms and presents evidence that steps are being taken in Kazakhstan to improve the business and investment climate, making it a more welcoming place to do business.”

With the formal approval of the accession package and the completion of the longest accession process to date, which began in February 1996, Kazakhstan will become the 162^nd member of the WTO in December at the WTO ministerial conference in Geneva.

“The completion of this process will lead to increased trade and investment opportunities for Kazakhstani businesses that will benefit consumers not only in Kazakhstan but in all WTO-member countries,” said Sarah Frese, Executive Director of USKZBA. “As a nation with numerous natural resources that provide the potential for long-term economic growth and proven leadership in the Central Asia region since its independence in 1991, Kazakhstan is sure to be a strong addition to the international organization.”

Kazakhstan exports an estimated $78 billion annually, roughly 38.25 percent of its gross domestic product, with top export goods including oil and mineral fuels, iron and steel. Currently, the United States ranks as Kazakhstan’s fifth largest import partner with an estimated $2 billion in imports.

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About the U.S.-Kazakhstan Business Association
The U.S.-Kazakhstan Business Association (USKZBA) was formed to promote the involvement of the U.S. private sector in trade and investment in Kazakhstan. The USKZBA is an independent, nonprofit corporation that works to promote U.S. economic and commercial cooperation with Kazakhstan by fostering a business and investment climate in which U.S. and Kazakhstani companies operating in Kazakhstan can flourish. It was incorporated in the State of Delaware on March 31, 1999, and is based in Washington, DC.

NFTC Applauds House Action on Bipartisan TPA Legislation

Posted on June 18, 2015 by dcadmin

Washington DC. – Today, National Foreign Trade Council (NFTC) President Bill Reinsch congratulated members of the House of Representatives for passing legislation renewing Trade Promotion Authority (TPA).

“We thank leaders in the House and Senate for acting swiftly to find a path forward on Trade Promotion Authority renewal, and we applaud the members of the House for voting in support of this critical trade legislation.

“Today is an important day for U.S. businesses, workers and consumers, all of which will benefit from the expanded trade opportunities passage of TPA and subsequent high-standard trade agreements will provide.

“We urge the Senate to take up the legislation as soon as possible so that we can send TPA legislation to the President’s desk. We also call on both chambers to pass Trade Adjustment Assistance legislation as soon as possible.”

NFTC Urges Senate to Act on Legislation Reforming COOL Requirements

Posted on June 17, 2015 by dcadmin

Washington DC – National Foreign Trade Council (NFTC) President Bill Reinsch issued the following statement today following the news that the World Trade Organization (WTO) has referred the country-of-origin labeling (COOL) dispute between the United States and Canada to arbitration.

“Today’s referral of the COOL dispute between the United States and Canada to arbitration further emphasizes the need for swift action in the Senate to reform the U.S. COOL requirements by taking up the House-passed Country of Origin Labeling Amendments Act of 2015 (H.R. 2393).

“The retaliatory measures Canada is seeking, nearly $2.5 billion, would have a detrimental economic impact on U.S. businesses across a variety of sectors – from manufacturing to agriculture – and Mexico is not far behind, with their request expected later this month.

“It is now more important than ever for the United States to show its commitment to the multilateral trading system and the WTO by bringing COOL requirements into compliance with our treaty obligations.”

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

NFTC Welcomes House Action on TPA, Preference Programs; Calls for Passage of Critical TAA Legislation

Posted on June 12, 2015 by dcadmin

Washington, D.C. – Today, National Foreign Trade Council (NFTC) President Bill Reinsch applauded members of the House of Representatives for passing legislation renewing Trade Promotion Authority (TPA) and trade preference programs for African nations and Haiti. The NFTC also strongly urged the House to support Trade Adjustment Assistance (TAA) legislation when it returns to the House floor for a vote.

“We thank members of the House for supporting TPA and the trade preference programs, taking a much-needed step in the right direction for the U.S. economy and American businesses, farmers and workers. If it is enacted, TPA will not only ensure that congressional objectives are met as negotiations on agreements such as the Trans-Pacific Partnership and Transatlantic Trade and Investment Partnership advance, but it also gives negotiators the authority needed to complete the best deals possible for America.

“However, the House’s action in rejecting the Trade Adjustment Assistance program is a historic mistake its members will come to regret. TAA is one of the few programs we have that helps our workers cope with the transition to a globally integrated economy, a transition that is going to continue regardless of Congress.

“Competing in this more challenging environment means trade agreements that promote market access for our farmers, manufacturers and service providers and create rules that provide for a level playing field, but it also means taking steps at home to make sure our workforce is prepared for the agility a more competitive global environment requires.

“Trade Adjustment Assistance is the best tool we have to do that, and the House’s action today not only steps away from the bargain we struck with labor more than 50 years ago, it abandons the best resource we have – our workers – and leaves them at the mercy of our foreign competitors. It is for these reasons that we strongly urge members of the House on both sides of the aisle to show their support for American workers by passing TAA when it is brought before the chamber again.”