Category: Press Releases and Statements

NFTC Calls for Regular Order in Export Control Rulemaking Process

Posted on by Joe Locher

WASHINGTON, D.C. – National Foreign Trade Council (NFTC) Vice President for National Security Policy Jeannette Chu today issued a statement following the announcement of a regulatory framework for the responsible diffusion of Advanced Artificial Intelligence (AI) Technology:

“The Commerce Department’s new unilateral framework for imposing export controls on Artificial Intelligence (AI) diffusion seeks to prevent adversaries from using AI in harmful ways while permitting and managing the access of allies and trusted trading partners to U.S. technology. 

“While our members agree with and support addressing the national security concerns driving this effort, we remain deeply concerned that this rule appears to have been developed outside of standard rulemaking procedures, which unfortunately appears to be a pattern for regulatory activities in the waning days of the current Administration. Robust and transparent consultation with industry and stakeholders, including through notices of rulemaking, is essential to ensure that the rulemaking process supports the intent of our policies.

“We look forward to working closely with the incoming Administration to refine and improve the United States’ export control framework to achieve national security objectives without ceding U.S. technology leadership.”

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About the NFTC

The National Foreign Trade Council (NFTC) is the premier business association advancing trade and tax policies that support access to the global marketplace. Founded in 1914, NFTC promotes an open, rules-based global economy on behalf of a diverse membership of U.S.-based businesses.

NFTC Foundation Announces Ambassador Demetrios Marantis as its New President

Posted on by Joe Locher

Washington, D.C. – The National Foreign Trade Council (NFTC) Foundation is pleased to announce the election of Ambassador Demetrios Marantis as its new President. Marantis, a former Acting and Deputy U.S. Trade Representative with extensive experience in international trade policy, will lead the Foundation’s efforts to educate stakeholders on the importance of global commerce. Demetrios will succeed Leslie Griffin, who served as President of the NFTC Foundation for the last 5 years.

“We are grateful to Ambassador Marantis for taking on this leadership role as NFTC Foundation President,” said Jake Colvin, President of the NFTC. “We look forward to leveraging his unique expertise and passion for advancing international trade and investment to expand the Foundation’s leadership and initiatives.”

Ambassador Marantis has had a distinguished career in both the public and private sectors. In addition to serving as Acting and Deputy U.S. Trade Representative, where he played a key role in President Obama’s cabinet negotiating trade agreements with China and throughout Asia and Africa, he has held senior roles at Visa, Square, and other global organizations. His full bio is below.

“On behalf of the NFTC Foundation, we want to take this opportunity to thank Leslie Griffin for her outstanding leadership and commitment to the Foundation’s work,” said Hua Wang, Executive Director of the NFTC Foundation’s Global Innovation Forum (GIF). “Her efforts to promote small businesses and her collaboration with GIF have left a lasting impact.”

During her tenure, Griffin spearheaded numerous initiatives to promote the interests of small businesses and advance the Foundation’s mission in Boston and Washington, DC. She will continue to serve on the Foundation’s board.

About the NFTC Foundation

The NFTC Foundation is committed to promoting education and engagement around the critical role of trade and investment in driving economic growth and opportunity. Its major activities include hosting the annual World Trade Dinner, the International Tax Conference, and other high-impact educational events along with supporting and disseminating research and data about the opportunities and challenges of engaging in the global marketplace. The Foundation also houses the Global Innovation Forum (GIF), which elevates the voices of small businesses and entrepreneurs in the policy landscape by fostering meaningful connections with government officials, civil society, and private sector leaders. Through educational events, thought leadership, and collaboration with business, nonprofit and government stakeholders worldwide, the Foundation plays a pivotal role in advancing a robust and inclusive global trade system.

Biography of Ambassador Demetrios Marantis 

Ambassador Demetrios Marantis has deep expertise in helping public and private companies integrate geopolitical, regulatory, sustainability, and philanthropic priorities into their strategy and risk management. A former Acting and Deputy United States Trade Representative and member of President Obama’s Cabinet, Ambassador Marantis brought his extensive experience negotiating trade agreements with China and throughout Asia and Africa to senior executive roles at J.P. Morgan Chase, Visa, and Square. He currently runs a global geopolitical advisory firm, sits on several advisory boards, and speaks on global trade and other geopolitical issues. Based in Washington, DC, Ambassador Marantis received his undergraduate degree in public and international affairs from Princeton University in 1990 and his JD from Harvard Law School in 1993.

Ambassador Marantis served as the Global Head of Corporate Responsibility for J.P. Morgan Chase from 2021 to 2023, where he led a global team of over 400 professionals that oversaw the firm’s philanthropic initiatives, government relations, sustainability, and public policy. He served as Senior Vice President, Global Head of Government Engagement at Visa, from 2015 to 2021, where he developed proactive strategies to engage and partner with governments across the globe to advance the growth of electronic payments. Prior to Visa, Marantis founded and led the government relations and public policy team at Square, a high-growth international fintech.

Ambassador Marantis also has deep experience in government. He served as the Acting and Deputy United States Trade Representative from May 2009 until June 2013. Nominated by President Obama, Marantis was confirmed by the U.S. Senate and served with the rank of Ambassador. Among his many accomplishments, Marantis concluded and secured congressional passage of the Korea-U.S. Free Trade Agreement, designed and led negotiations for the Trans Pacific Partnership, spearheaded trade negotiations with China as well as India, Indonesia, Vietnam, throughout Africa, and negotiated the first-ever agreement in APEC to reduce tariffs on environmental goods.

Immediately prior, Marantis spent five years as the Chief International Trade Counsel to the U.S. Senate Finance Committee. He worked in Hanoi for two years as the Chief Legal Advisor for the U.S.-Vietnam Trade Council, served as Associate General Counsel at USTR from 1998 to 2002, and worked in the Brussels and DC offices of Akin Gump Strauss Hauer and Feld from 1993 to 1998.

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About the NFTC

The National Foreign Trade Council (NFTC) is the premier business association advancing trade and tax policies that support access to the global marketplace. Founded in 1914, NFTC promotes an open, rules-based global economy on behalf of a diverse membership of U.S.-based businesses.

About GIF

The Global Innovation Forum (GIF), an educational project of the 501(c)(3) National Foreign Trade Council Foundation, is a nonprofit that connects entrepreneur, small business, corporate, development, and university communities with policymakers to explore the opportunities and challenges of engaging in the global marketplace.

NFTC Congratulates Dr. Okonjo-Iweala on Appointment for Second Term as WTO Director-General

Posted on by Veronica Berkshire

WASHINGTON DC – National Foreign Trade Council (NFTC) President Jake Colvin today issued a statement on the appointment of Dr. Ngozi Okonjo-Iweala for a second term as Director-General of the World Trade Organization (WTO):

“The NFTC congratulates Dr. Okonjo-Iweala on her appointment for a second term as WTO Director-General. She has been a steady and thoughtful leader during a time of tremendous geopolitical and economic challenges. The WTO will be very well-served by her continued leadership, and the business community looks forward to continuing to work with her and her team to meet today’s global trade and supply chain challenges.”

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About the NFTC
The National Foreign Trade Council (NFTC) is the premier business association advancing trade and tax policies that support access to the global marketplace. Founded in 1914, NFTC promotes an open, rules-based global economy on behalf of a diverse membership of U.S.-based businesses.

NFTC Welcomes Jamieson Greer Nomination for U.S. Trade Representative

Posted on by Veronica Berkshire

Washington DC – National Foreign Trade Council (NFTC) President Jake Colvin today issued a statement following the announcement that President-elect Donald Trump intends to nominate Jamieson Greer as United States Trade Representative (USTR).

“Congratulations to Jamieson. He is a seasoned trade expert and consummate professional who will bring new energy to an agency that has a long track record of advancing the interests of American businesses and workers.

“We look forward to working with Jamieson on our shared priorities of strengthening the global competitiveness of U.S. companies, creating new export opportunities and opening markets around the world.”

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About the NFTC

The National Foreign Trade Council (NFTC) is the premier business association advancing trade and tax policies that support access to the global marketplace. Founded in 1914, NFTC promotes an open, rules-based global economy on behalf of a diverse membership of U.S.-based businesses.

Press Release | NFTC Statement on the Election of Donald Trump

Posted on by Joe Locher

WASHINGTON DC – National Foreign Trade Council (NFTC) President Jake Colvin today issued a statement in response to the election of Donald Trump as President of the United States:

“Congratulations to former President Donald Trump on his election as the next President of the United States. As we have for over 100 years, the NFTC stands ready to work with the President-elect to ensure that U.S. companies can compete and thrive in the global economy.

“We look forward to working with the transition team and Trump-Vance Administration to promote trade and tax policies that aid the competitiveness of American businesses and workers and bolster U.S. global leadership in key technologies and national and economic security.

“While we may have our disagreements about the use of specific policy instruments like tariffs, we look forward to being a constructive business voice to help strengthen America’s economic alliances, stand up for U.S. businesses and workers abroad and set the standards that will guide the global economy.“

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About the NFTC

The National Foreign Trade Council (NFTC) is the premier business association advancing trade and tax policies that support access to the global marketplace. Founded in 1914, NFTC promotes an open, rules-based global economy on behalf of a diverse membership of U.S.-based businesses.

Press Release | NFTC Welcomes Start of Negotiations on U.S. – Taiwan Comprehensive Tax Agreement 

Posted on by Joe Locher

WASHINGTON DC – National Foreign Trade Council (NFTC) Vice President for International Tax Policy Anne Gordon issued the following statement following the U.S. Department of the Treasury’s announcement that the United States and Taiwan will begin negotiations towards a comprehensive tax agreement to address double taxation:

“NFTC welcomes Treasury’s announcement that work will commence on an agreement between the U.S. and Taiwan to address double taxation with a key ally and important trading partner. Agreements such as this one remove barriers, increase investment and create jobs in both countries. 

“We applaud the Treasury’s initiative to begin these discussions, which will facilitate an agreement with Taiwan as contemplated by Congress. In that vein – we also urge continued work with Congress to swiftly pass the bipartisan U.S.-Taiwan Expedited Double Tax Relief Act before the end of the year. 

“Due to its importance as an ally and economic partner, Taiwan has consistently ranked as one of the top treaty priorities in NFTC’s annual Tax Treaty Survey. Survey respondents highlighted permanent establishment, business profits, and reducing withholding rates on royalties as primary areas for consideration in a potential agreement, and we hope the Treasury considers addressing all of these issues as part of their negotiations.”

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About the NFTC

The National Foreign Trade Council (NFTC) is the premier business association advancing trade and tax policies that support access to the global marketplace. Founded in 1914, NFTC promotes an open, rules-based global economy on behalf of a diverse membership of U.S.-based businesses.

Press Release | NFTC Applauds Commerce and State for Modernizing Controls on Spacecraft Exports

Posted on by Marshall Lane

WASHINGTON DC -In response to yesterday’s announcements that the Commerce Department’s Bureau of Industry and Security (BIS) and State Department’s Directorate of Defense Trade Controls (DDTC) are proposing rules that modernize export controls on certain space-related items and technologies, streamline exports to key trading partners including 40 allies, and further facilitate support for NASA projects, National Foreign Trade Council (NFTC) Vice President for National Security Policy Jeannette Chu released the following statement:

“NFTC applauds the administration’s support for the U.S. space industrial base and companies involved in space commercialization. These rules underscore the criticality of global competitiveness and commercial viability to national security. Thoughtful, targeted and timely changes like these to our export control system are crucial to maintaining U.S. technology leadership in the face of rising geopolitical tensions. As we respond vigorously to threats from foreign adversaries, we must also ensure that our regulatory and interagency processes provide consistent and coherent pathways that ensure America’s  global competitiveness and national security.”

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About the NFTC
The National Foreign Trade Council (NFTC) is the premier business association advancing trade and tax policies that support access to the global marketplace. Founded in 1914, NFTC promotes an open, rules-based global economy on behalf of a diverse membership of U.S.-based businesses.

NFTC Applauds Commerce Department for Stepping Up for American Businesses with New Digital Trade Initiatives

Posted on by Joe Locher

WASHINGTON DC – In response to today’s announcement by the U.S. Commerce Department’s International Trade Administration (ITA) of new digital initiatives, including training for commercial diplomats overseas and new annual monitoring of digital trade opportunities and barriers in their Country Commercial Guides, National Foreign Trade Council (NFTC) President Jake Colvin released the following statement:

“We applaud the Commerce Department for stepping up to support the success of American businesses and workers in the global digital economy. We encourage ITA to use its platform to call out significant digital barriers to U.S. exports, including local content requirements, and for leadership and attachés to address them head-on, helping American businesses of all sizes succeed globally.

“Today’s announcement responds to the desires of the overwhelming majority of Americans looking for strong U.S. global technology leadership. Over 80% of American voters agree that it is important for the United States to develop a digital trade agenda that helps American small businesses and workers effectively compete in overseas markets and are concerned that foreign regulators are discriminating against U.S. businesses to protect their markets from American competitors.”

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About the NFTC

The National Foreign Trade Council (NFTC) is the premier business association advancing trade and tax policies that support access to the global marketplace. Founded in 1914, NFTC promotes an open, rules-based global economy on behalf of a diverse membership of U.S.-based businesses.

New Polling Shows Americans Overwhelmingly Want Stronger U.S. Global Leadership on Technology and Artificial Intelligence

Posted on by Veronica Berkshire

WASHINGTON DC – The National Foreign Trade Council (NFTC) today released new polling conducted by Morning Consult that finds American voters want the United States to play a larger global leadership role on technology and innovation issues. The first-of-its-kind polling on voter views on global technology and AI leadership also revealed that voters are concerned the United States is falling behind China on innovation and that other countries are unfairly targeting U.S. tech workers and businesses.

With less than two months before the election, the NFTC sent a letter to both the Harris-Walz and Trump-Vance campaigns today sharing the newly released polling data. Both Presidential candidates have recently addressed the need to champion U.S. technological and AI innovation at home and abroad in debates and speeches, though neither has unveiled policy details on how they plan to strengthen American leadership on these issues.

“Now more than ever, promoting American workers’ interests and the economic prosperity they generate requires a commitment from our leaders to reinvigorate U.S. global technology leadership,” NFTC President Jake Colvin writes in the letter to both campaigns.

Key findings from the Morning Consult Poll include that:

  • 71% of voters agree that the U.S. is falling behind China when it comes to technology innovation.
  • 74% of voters indicate that foreign regulators, like from the European Union, should not target U.S. companies while advantaging their own domestic competitors.
  •  83% of voters agree that it is important for the United States to develop a digital trade agenda that helps American workers enter and effectively compete in overseas markets.
  •  82% of voters are concerned that foreign regulators are discriminating against U.S. businesses to protect their markets from American competitors.
  • 86% of voters say it is important for the U.S. to have a leadership role in writing the global rules for technology.
  •  Large majorities of Republicans (83%) and Democrats (76%) believe that the United States has taken a significant step back in its global leadership. 79% of Americans are concerned that this lack of leadership benefits China.

“Restoring America’s global technology leadership presents a unique opportunity to unite the country around a vision that is popular with Democrats, Republicans and Independents,” Colvin added.

Visit HERE for Morning Consult polling Memo

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The full text of the letter sent to the Harris-Walz and Trump-Vance campaigns follows:

As the pre-eminent business association dedicated to international trade, investment and economic policy issues, we are writing to bring to your attention the clear interest of the American people in accelerating U.S. global leadership on technology and Artificial Intelligence (AI) to promote and defend U.S. economic interests abroad and strengthen America’s national security.

For over forty years, American technology innovation has spurred the development of the U.S. economy from the birth of the internet to AI. According to Bureau of Economic Analysis data, America’s innovative entrepreneurs lead the global digital economy, supporting $1.24 trillion in employee compensation, over 18 million jobs, and generating $3.70 trillion in digital economy gross output.

In response to America’s success, foreign governments from Europe to Asia, including China, are pursuing discriminatory digital policies designed to hold U.S. businesses and their workers back. Digital protectionism abroad throttles American growth and innovation, putting U.S. jobs, competitiveness, and national security at serious risk.

Now more than ever, promoting American workers’ interests and the economic prosperity they generate requires a commitment from our leaders to reinvigorate U.S. global technology leadership. U.S. leadership is essential to enable access to international markets for American small businesses, farmers, ranchers, service companies and manufacturers, who rely on the global reach of a range of innovative U.S. technologies to succeed.

The American electorate agrees and understands that our future prosperity will be defined by technological innovation. Voters across the United States support strong U.S. global technology leadership that empowers services created by American innovators and workers and aids small businesses’ access to new markets.

Newly released polling from Morning Consult shows that large majorities of Americans desire greater focus on fostering our technological strengths.

The polling found that:

  • 71% of voters agree that the U.S. is falling behind China when it comes to technology innovation.
  • 74% of voters indicate that foreign regulators, like from the European Union, should not target U.S. companies while advantaging their own domestic competitors.
  • 83% of voters agree that it is important for the United States to develop a digital trade agenda that helps American workers enter and effectively compete in overseas markets.
  • 82% of voters are concerned that foreign regulators are discriminating against U.S. businesses to protect their markets from American competitors.
  • 86% of voters say it is important for the U.S. to have a leadership role in writing the global rules for technology.
  • Large majorities of Republicans (83%) and Democrats (76%) believe that the United States has taken a significant step back in its global leadership. 79% of Americans are concerned that this lack of leadership benefits China.

These results reflect that Americans take pride in the fact that digital-led innovation is an engine of growth. Americans understand that digital exports are inextricably tied to our economic security.

Restoring America’s global technology leadership presents a unique opportunity to unite the country around a vision that is popular with Democrats, Republicans and Independents.

Next year will offer a fresh chance to enhance America’s global economic leadership to strengthen our national security and contribute to the prosperity of all Americans. We ask that you prioritize the importance of American-led digital innovation and firmly commit to stand up for American job creators and workers on the world stage, both as you present your views to voters this fall and as you prepare the policies that your administration would pursue.

We welcome the opportunity to meet with you to discuss these issues.

Sincerely,

Jake Colvin

President

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About the NFTC

The National Foreign Trade Council (NFTC) is the premier business association advancing trade and tax policies that support access to the global marketplace. Founded in 1914, NFTC promotes an open, rules-based global economy on behalf of a diverse membership of U.S.-based businesses.

NFTC Welcomes Dr. Okonjo-Iweala’s Interest in Serving Second Term as WTO DG

Posted on by Veronica Berkshire

WASHINGTON DC – National Foreign Trade Council (NFTC) Board Chair Susan Schwab and President Jake Colvin today issued a statement following the announcement that Dr. Okonjo-Iweala would be interested in serving a second term as World Trade Organization (WTO) Director General (DG):

“Dr. Okonjo-Iweala has been a steady and thoughtful leader for the World Trade Organization during a period of significant geopolitical and economic upheaval. She has overseen important initiatives to address trade facilitation and supply chain challenges during the pandemic, the continuation of the customs duty moratorium on electronic transmissions, as well as progress on fisheries subsidies, joint statement initiatives and organizational reform, which demonstrate how the organization can respond to the need for an effective rules-based trading system,” said NFTC Chair Susan Schwab.

“Under Dr. Okonjo-Iweala’s direction, we have seen evidence of the critical role the WTO can play in harnessing the power of trade to meet today’s challenges,” said NFTC President Jake Colvin. “The WTO would be well-served by her continued leadership.”

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About the NFTC

The National Foreign Trade Council (NFTC) is the premier business association advancing trade and tax policies that support access to the global marketplace. Founded in 1914, NFTC promotes an open, rules-based global economy on behalf of a diverse membership of U.S.-based businesses.