Category: Press Releases and Statements

NFTC Welcomes Bipartisan Introduction of TPA Legislation

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Washington DC – Today, National Foreign Trade Council (NFTC) President Bill Reinsch issued the following statement welcoming the bipartisan introduction of Trade Promotion Authority (TPA) legislation by Senate Finance Committee Chairman Orrin Hatch (R-UT) and Ranking Member Ron Wyden (D-OR), and House Ways and Means Committee Chairman Paul Ryan (R-WI).

“We applaud Senators Hatch and Wyden and Representative Ryan for their leadership and efforts to draft and introduce this much-anticipated TPA bill.

“Today’s bill introduction is a crucial step toward ensuring the United States has the tools needed to negotiate and complete international trade agreements that benefit the U.S. economy and American exporters and workers.

“As the United States pushes forward on its robust trade agenda, which includes a suite of trade agreements, including the Trans-Pacific Partnership and the Transatlantic Trade and Investment Partnership, among others, TPA provides the framework for Congress and the Administration to work together to shape and maximize the benefits of current and future trade agreements – benefits that support economic growth and jobs in all 50 states.

“We urge Congress to pass TPA legislation as soon as possible this year.”

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About NFTC
NFTC is Celebrating our New Century in 2014! Details at www.nftc.org 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. Follow us on:

 

 

U.S. Removal of Cuba from State Sponsors of Terrorism Is a Step Forward

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Embargo Still Stands in the Way

Washington, DC – Today, USA*Engage and the National Foreign Trade Council (NFTC) commended the Obama Administration’s decision to remove Cuba from the U.S. State Sponsors of Terrorism list.

“We welcome the Administration’s decision to remove Cuba from the U.S. list of state sponsors of terrorism as a positive step toward normalizing U.S. relations with Cuba,” said Jake Colvin, Vice President, Global Trade Issues, NFTC. “As we move closer to a more open, commercial relationship with Cuba, American businesses and consumers, as well as the Cuban people, are realizing new opportunities that will benefit both economies. The latest example is Airbnb’s entry into Cuba.”

“On the heels of the bilateral meeting Presidents Obama and Castro held on the sidelines of the Summit of the Americas, today’s announcement is an encouraging sign of the Administration’s commitment to modernize U.S.-Cuba policy,” said Richard Sawaya, Vice President, USA*Engage. “But this is just one step. The embargo has long stood in the way of what would be a mutually beneficial relationship for both the United States and Cuba. Lifting the embargo is not only long over due, but crucial to restarting the U.S.-Cuba relationship as one made for the 21st century.”

In a recent blog post, Sawaya lays out the arguments for lifting the embargo against Cuba, which USA*Engage and NFTC have long advocated.

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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
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. Follow us on Facebook and Twitter.

 

 

 

NFTC Statement on Airbnb Entering the Cuban Marketplace

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Washington DC – National Foreign Trade Council (NFTC) Vice President for Global Trade Issues Jake Colvin released the following statement in response to today’s news that Airbnb will enter the Cuban marketplace:

“Today’s announcement will encourage people-to-people exchanges between Cubans and Americans, help meet soaring demand for rooms, and support and further encourage entrepreneurship and private enterprise in Cuba.

“Airbnb’s entry into Cuba is a prime example of the mutual benefit to Cubans and Americans that can come from relaxing U.S. sanctions.

“Their entry provides a high-profile, global technology platform to highlight and support a long history of hospitality and entrepreneurship by Cuban citizens through Casa Particulares. Casa Particulares date back to the late 1990s in Cuba, when government officials began letting private citizens rent out their rooms.

“We applaud Airbnb for its leadership in supporting American travelers and Cuban entrepreneurs.”


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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. Follow us on:

 

 

USA*Engage Blog Post: “The New Status Quo and U.S.-Cuba Relations”

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Washington, DC –Today in a blog post, titled “The New Status Quo and U.S.-Cuba Relations,”Richard Sawaya, Vice President of USA*Engage,wrote:

“The position of those in high dudgeon about President Obama’s negotiated change of policy with the Cuban regime can be summed up by former Texas governor Rick Perry’s declaration: ‘We got a bad deal. This administration basically empowered the Castro regime with no thought of the Cuban people.’ While this may work as an applause-seeking sound bite, does it stand up to reason?

“The U.S. embargo and its bilateral appurtenances are more than a half-century old. Brothers Fidel and Raul have seen nine U.S. presidents from both political parties come and go. During that time, the challenges born by the Cuban people are inarguable. But the embargo has compounded the problem.”

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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.

Business Community Urges Senate Action on Pending Tax Treaties

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Washington DC – Today, the National Foreign Trade Council (NFTC) and other leading business organizations sent a letter to Senate leadership urging expeditious action on and support for the bilateral income tax treaties and protocols pending before the Senate.

The groups wrote:

“The bilateral income tax treaties and protocols pending before the Senate are important to U.S. economic growth and U.S. trade and tax policy. We ask for your support for these treaties and protocols and also ask for expeditious action on them by the United States Senate.

“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.

“…Treaties and protocols such as these have routinely been approved by unanimous consent. These treaties promote good business and financial decisions based on free-market principles rather than government influence. They incorporate reforms that foster robust economic growth and build on long-term investment partnerships between the U.S. and our tax treaty partners.”

Click here to read the letter.

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About the NFTC

NFTC is Celebrating our New Century in 2014! Details at www.nftc.org 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. Follow us on:

 

 

Legislation to Lift Cuba Embargo Is Key Step Toward Advancing Bilateral Relations

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Washington, DC – Today, USA*Engage and the National Foreign Trade Council (NFTC) welcomed the bipartisan introduction of legislation that would lift the Cuba trade embargo – the Freedom to Export to Cuba Act.

“The Freedom to Export to Cuba Act introduced today is positive news for all sectors of the U.S. economy, as it would make all legal U.S. agricultural products and all other U.S. products and services available for export,” said Richard Sawaya, USA*Engage Vice President. “We are encouraged to see the new Congress taking steps that will create new economic opportunities for U.S. businesses so soon after the President’s announcement on Cuba policy changes.”

“We applaud the leadership of the bipartisan coalition of senators who introduced legislation today to lift the Cuba trade embargo – a policy move that is long overdue,” said Jake Colvin, NFTC Vice President for Global Trade Issues. “Removing self-imposed restrictions to a closer commercial relationship with Cuba will benefit American businesses and the Cuban people.”

NFTC and USA*Engage are members of the recently-launched U.S. Agriculture Coalition for Cuba. USA*Engage has worked for nearly twenty years to encourage a shift in America’s outdated policy toward Cuba, with the ultimate goal of lifting the embargo.

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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 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. Follow us on Facebook and Twitter.