Category: Press Releases and Statements

NFTC, USA*Engage Welcome Restoration of Scheduled U.S.-Cuba Passenger and Cargo Flights

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Washington, DC – Today, in response to the U.S. and Cuban governments signing a bilateral civil aviation agreement, National Foreign Trade Council (NFTC) Vice President for Global Trade Issues Jake Colvin released the following statement: 

“The agreement signed today is yet another milestone in efforts to restore ties between the United States and Cuba, and we applaud the U.S. and Cuban governments on this important step forward. 

“The NFTC and USA*Engage have long advocated not only for reestablishing U.S. commercial and diplomatic relations with Cuba, but also for expanding people-to-people exchanges. By restoring scheduled passenger and cargo flights between the two countries, the agreement reached today will go a long way to enable both objectives.”

 

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 Senate Approval of Customs Bill

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Washington DC – The National Foreign Trade Council (NFTC) today released the following statement on U.S. Senate passage of the customs bill.

NFTC President Bill Reinsch said:

“We applaud today’s approval of the customs bill, which fulfills commitments made during the Trade Promotion Authority debate last summer.

“The bill, once implemented, will increase efficiency and competitiveness for U.S. exporters by helping facilitate trade across our borders and strengthening trade enforcement mechanisms, particularly with respect to intellectual property rights.

“With the customs bill now completed, we urge Congress and the Administration to continue working together to resolve remaining issues in the Trans-Pacific Partnership (TPP) so policymakers can begin taking steps toward approving the agreement this year.”

NFTC Vice President for Regional Trade Initiatives Chuck Dittrich said:

“Today’s vote shows that once again a majority in Congress can come together to pass legislation that gives American companies and workers the tools needed to succeed in a global economy.

“We look forward to Congress and the Administration now turning their attention to passing a high standard TPP.”

 

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 Welcomes TPP Signing, Encourages Action on Remaining Issues

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Washington, D.C. – National Foreign Trade Council (NFTC) President Bill Reinsch issued the following statement welcoming the signing of the Trans-Pacific Partnership (TPP) agreement in New Zealand.

“Today is a momentous occasion, and I congratulate the negotiators from the 12 TPP countries who made it possible. To build on this momentum and maximize the benefits of the agreement to increase U.S. competitiveness and create jobs, we encourage the Administration and Congress to continue working toward resolution of remaining issues of concern.”
 

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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.

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NFTC Welcomes U.S.-EU Privacy Shield Agreement

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Washington DC – Today, National Foreign Trade Council (NFTC) President Bill Reinsch issued the following statement in response to news that the United States and European Union have reached agreement on a Privacy Shield Agreement.

“We welcome today’s announcement and are pleased that the U.S. and EU governments have reached agreement on a new framework to ensure transatlantic data flows.

“In today’s global economy, cross-border data flows are critical to doing business. To support already robust U.S.-EU trade and investment relations, companies need the ability to transfer data across the Atlantic, while also ensuring privacy.

“Commerce in the 21st century is supported by numerous data-driven services and applications that are critical to consumers, entrepreneurs and businesses of all sizes – underscoring the need for data to flow.

“Today’s announcement is an important step forward, and we urge European officials to recognize this agreement and continue to affirm and develop other pathways to permit the free flow of data.”

In October 2015, following the EU ruling on the Safe Harbor Agreement, the NFTC called for quick and responsible follow up 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.
 

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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.

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NFTC, Other Leading Business Groups Urge Senate to Take “Expeditious Action” on Stalled Tax Treaties

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Washington DC – In a letter to Senate leadership, the National Foreign Trade Council (NFTC) and nine other prominent U.S. business associations urged Senate Majority Leader Mitch McConnell and Senate Minority Leader Harry Reid to take action on the many bilateral income tax treaties and protocols pending before the Senate.

The groups wrote:

“Many of these agreements were signed by the U.S. Department of Treasury several years ago. The protracted period of ratification could send a signal, inadvertently, to all U.S. tax treaty partners that the U.S. does not value the benefits of tax treaties and that the expansion, improvement and modernization of the U.S. bilateral tax treaty network is not a priority. Given the unilateral actions that many foreign governments are considering as a consequence of issues raised in the OECD Base Erosion and Profit Shifting process, this sends the wrong signal at the wrong time.

“For more than 80 years, income tax treaties have played a critical role in fostering U.S. bilateral trade and investment and protecting U.S. businesses, large and small, from double taxation of the income they earn from selling goods and services in foreign markets. Tax treaties do so primarily by reducing foreign withholding taxes and otherwise restricting the ability of the foreign treaty partner to tax the income of U.S. taxpayers. On a reciprocal basis, tax treaties reduce U.S. withholding taxes to encourage foreign companies to invest in the United States. …

“Tax treaties help the U.S. economy by allowing U.S. companies to more efficiently conduct their businesses abroad and by making the U.S. more hospitable to foreign investment, which creates and sustains millions of American jobs.”

For the full text of the letter, click here.

In addition to the NFTC, the letter was signed by Business Roundtable, Financial Executives International, the Information Technology Industry Council, the National Association of Manufacturers, the Organization for International Investment, the Software Finance & Tax Executives Council, the Trans-Atlantic Business Council, the U.S. Chamber of Commerce and the United States Council for International Business. 

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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.

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NFTC Chairman Testifies Before ITC on Economic Effects of TPP

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Washington DC – National Foreign Trade Council (NFTC) Chairman, Ambassador Alan Wolff, today delivered testimony before the U.S. International Trade Commission (ITC) on the “Probable Economic Effects of Entry into Force of the Trans-Pacific Partnership (TPP) Agreement.” Wolff detailed the specific benefits of the TPP and also outlined remaining areas of concern for the Administration to address to ensure the agreement provides the most benefits across the entire U.S. economy.

Ambassador Wolff stated:

“…TPP is essential as a foundation for American leadership not only in Asia, but in formulating with major partners improved conditions for world trade and investment through open markets and stronger rules. TPP shows a path forward in trade liberalization, in new rules for the digital economy and in new disciplines governing the participation of state-owned enterprises in commercial competition.

“… The importance of U.S. participation in the TPP cannot be overstated. The original twelve parties account for 40% of the world’s economic output. That they could reach agreement on a broad range of rules and trade liberalizing measures is an outstanding achievement. …TPP is a potential template for the future of the world trading system.

In addition, as Wolff noted, “While expressing our support for TPP, the NFTC looks forward to working actively with the Executive Branch and Congress to ensure that additional improvements are made to achieve more fully U.S. negotiating objectives.”

Regarding remaining issues for the Administration to address, Ambassador Wolff noted concerns about IP protection for biologics; maintaining strong protection of investor rights without product carve-outs that have the effect of denying due process; excluding coverage for financial services data from rules assuring the free flow of data across borders; addressing currency manipulation; and remaining areas for liberalization.

“The NFTC supports Congress and the Administration addressing the issues raised by the business community to achieve prompt approval of TPP in 2016,” said Wolff.

The NFTC has long been a proponent for the TPP. On December 22, 2015, the NFTC released a statement on the text of TPP agreement.

For the full testimony, click here.


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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.
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NFTC, USA*Engage Urge House to Oppose Unilateral Iran Sanctions Bill

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Washington, DC – Today, in a letter to all members of the U.S. House of Representatives, National Foreign Trade Council (NFTC) President Bill Reinsch and USA*Engage Vice President Richard Sawaya urged policymakers to oppose H.R. 3662, the Iran Terror Financing Act. The two U.S. business community leaders wrote:

“Multi-lateral sanctions are a critical piece of the Joint Comprehensive Plan of Action (JCPOA) reached between Iran and all the permanent members of the U.N. Security Council. The JCPOA spells out a quid pro quo: Iran meets its commitments regarding its nuclear program and the multi-lateral sanctions will be largely rescinded. Under the JCPOA, U.S. primary and secondary sanctions targeting Iranian non-nuclear activity deemed a threat to national security will remain in force.

“… It is clear that many in Congress remain opposed to the JCPOA, despite the fact that legislative efforts to block it were unsuccessful. At this point, common sense would indicate that U.S. policy focus on verification of the JCPOA’s terms and conditions and Iran’s compliance with them. H.R. 3662, in fact, would move in the opposite direction.

“…USA*Engage and the NFTC urge Congress to honor a deal that is in fact a deal with clearly-articulated scope, limits and reciprocal responsibilities. The other members of the U.N. National Security Council will do so. If Iran chooses to renege, we and they have warrant to renege as well. We urge you to vote against HR 3662 and any other legislation designed to subvert the JCPOA.”

For the full text of the letter, click here.

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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 Responds to the President’s State of the Union Address

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Washington, DC – National Foreign Trade Council (NFTC) President Bill Reinsch issued the following statement in response to President Obama’s State of the Union address:

“Tonight, the President talked about the need to continue strengthening the U.S. economy and ensuring well-paying jobs for American workers. Keys to unlocking that economic potential are found in trade and a competitive corporate tax system.

“We applaud the President’s remarks on the Trans-Pacific Partnership (TPP) agreement. The NFTC believes firmly that the TPP is in our national interest – from generating economic growth to supporting jobs – and we call on the Administration and Congress to address remaining issues to ensure that the agreement provides the most benefits possible across the whole of the U.S. economy. The Asia-Pacific region is dynamic and ever-growing, and opportunities abound for the expansion of U.S. market access in the 11 other TPP economies.

“We also welcome the President’s call for ending the outdated embargo with Cuba.

“Finally, critical for sustained economic growth is a sound U.S. tax policy that doesn’t put U.S. businesses at a competitive disadvantage when compared to their counterparts around the world.

“In 2016, we look forward to working with the Administration and Congress to make meaningful progress on all of these fronts.”

 

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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.

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