Category: Press Releases and Statements

NFTC Applauds House Action to Repeal COOL Requirements; Calls on Senate to Follow

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Washington DC – Today, the National Foreign Trade Council (NFTC) released the following statement applauding the U.S. House of Representatives for passing the Country of Origin Labeling Amendments Act of 2015 (H.R. 2393), which repeals country of origin labeling (COOL) requirements for beef, pork and chicken.

“The NFTC is encouraged by the swift action taken by the leaders and members of the House of Representatives to repeal COOL laws following the final ruling at the World Trade Organization (WTO), deeming COOL laws in violation of our international treaties with Canada and Mexico.

“Repealing COOL requirements ensures the United States maintains its commitment to the multilateral trading system set up by the WTO. Compliance with the recent WTO rulings against U.S. COOL laws will ensure retaliatory tariffs are not pursued by Mexico and Canada, and will enforce the legitimacy and effectiveness of the WTO Dispute Resolution Body, which more often than not results in rulings favorable to the United States.

“We urge the Senate to follow the action of the House and repeal COOL as soon as possible, before retaliatory tariffs are enacted by Canada and Mexico.”

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About the NFTC
Advancing Global Commerce for Nearly A Century- 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 Calls on House to Pass TPA-2015

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Reinsch Says ‘Legislation Opens Clear Path to Completion of Market-Opening Trade Agreements’

Washington DC – Today, National Foreign Trade Council (NFTC) President Bill Reinsch urged members of the House of Representatives to vote in support of the Bipartisan Congressional Trade Priorities and Accountability Act of 2015 (TPA-2015).

In a letter sent to all representatives this morning, Reinsch wrote:

“This legislation opens a clear path to completion of market-opening trade agreements that will increase economic growth and well-paying jobs here in the United States. This legislation breaks new ground in several important ways. It will enhance the required consultations by the Executive Branch with Congress on trade negotiations, ensuring that Congress sets the priorities for trade agreements. At the same time H.R. 1314 increases the transparency of those negotiations to better reflect the interests of the Congress and the public. Importantly, the bill requires USTR to post the text of trade agreements online at least 60 days before they are finalized. H.R. 1314 also stipulates important negotiating objectives for trade negotiations. These objectives enable Congress to give direction to U.S. negotiators, and they provide the Congress with a template by which to evaluate agreements submitted to them.

“Negotiating objectives include increasing market access for American exports and strengthening international rules for trade and investment. The negotiating objectives also include significant provisions to protect and preserve the environment, to protect worker rights and raise labor standards, to afford small businesses equal access to international markets, to recognize the significance of the Internet as a platform for international trade, and to take into account religious freedom. Simply put, H.R. 1314 enables Congress to ensure that trade agreements comport with American values and take full account of the rapidly changing modalities of international trade.”

Read the full letter here.

 

About NFTC
Serving America’s Global Businesses Since 1914! 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:

 

 

NFTC Applauds Senate Passage of TPA Bill – Calls on House to Approve the Legislation

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Washington DC – Today, National Foreign Trade Council (NFTC) President Bill Reinsch issued the following statement applauding members of the Senate for passing the Bipartisan Congressional Trade Priorities and Accountability Act of 2015 (TPA-2015).

“We are encouraged by today’s Senate passage of TPA-2015, which moves the bill one step closer to the President’s desk. We applaud Senate leadership and the leaders and staff of the Senate Finance Committee for their tireless efforts to push this legislation across the finish line.

“As U.S. trade negotiators continue to press forward on the Administration’s robust trade agenda, it is vital that we have Trade Promotion Authority in place to ensure all agreements meet congressional negotiating objectives and provide the most benefits for the U.S. economy and American businesses, farmers and workers.

“Now that the Senate has taken action, we call on the House to follow suit by debating and voting on TPA-2015 as soon as possible.”

About NFTC
Serving America’s Global Businesses Since 1914! 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:

 

 

NFTC Highlights Need for Compliance with International Agreements Following COOL Ruling

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Washington DC – Today, following the World Trade Organization’s (WTO) final ruling finding the United States in non-compliance on country-of-origin labeling (COOL), the National Foreign Trade Council (NFTC) highlighted the importance of complying with international obligations.

“NFTC has long advocated for an open, rules-based global trading system, but such a system will only succeed if all participating countries meet their obligations,” said NFTC President Bill Reinsch. “In today’s global marketplace, it is increasingly important that the United States remain committed to our international agreements and adhere to the rules and regulations within each agreement.”

Today’s decision marks the third time the WTO has found the U.S. mandatory COOL rule in violation of U.S. trade obligations, stressing the importance of a needed fix.

“Without addressing the WTO’s concerns with our COOL rule, the United States risks retaliatory measures from key trading partners, such as Canada and Mexico – measures that only hamper U.S. competitiveness,” continued Reinsch. “We urge the House and Senate to act quickly on legislation regarding bringing the U.S. COOL rule into compliance with our trade obligations.”

Last Thursday, as a member of the COOL Reform Coalition, NFTC signed a letter to all members of the Senate, urging “compliance of COOL with our international trade obligations.” The full letter can be found 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. Follow us on:

 

 

NFTC Applauds Sen. Hatch for Urging IRS to Halt Use of Private Contractors to Investigate Taxpayers

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Washington DC – Today National Foreign Trade Council (NFTC) Vice President for Tax Policy Cathy Schultz applauded Senate Finance Committee Chairman Orrin Hatch (R-UT) for expressing concern to the Commissioner of the Internal Revenue Service (IRS) over the agency’s issuance of temporary regulations and its use of private contactors to investigate a corporate taxpayer.

In a letter sent to Commissioner Koskinen on Wednesday, Senator Hatch detailed his concerns about recent IRS practices, including hiring a private law firm to aid in investigating a corporate taxpayer and conducting sworn interviews as part of that investigation. Senator Hatch also expressed concern about the IRS and Treasury Department issuing a temporary regulation allowing private contractors to conduct taxpayer investigations after the IRS had already hired the law firm.

“We applaud Senator Hatch for his diligent oversight of the IRS within his capacity as Chairman of the Senate Finance Committee, which has jurisdiction over the agency,” said NFTC Vice President for Tax Policy Cathy Schultz. “With its recent actions, the IRS is setting a bad precedent for the investigation of taxpayers, including exceeding the limits of the agency’s statutory authority and raising red flags about the protection of confidential taxpayer information and the government’s stewardship of taxpayer dollars in hiring third party contractors.”

Among the concerns outlined in the Senator’s letter were that the hiring of outside contractors to conduct an investigation of a taxpayer “1) appears to violate federal law and the express will of the Congress; 2) removes taxpayer protections by allowing the performance of inherently governmental functions by private contractors; and 3) calls into question the IRS’s use of its limited resources.”

Abot the NFTC
Serving America’s Global Businesses Since 1914! 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:

 

 

NFTC Applauds Senate Votes on TPA, TAA and Trade Preference Programs

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Washington DC – Today, National Foreign Trade Council (NFTC) President Bill Reinsch commended members of the Senate for passing a motion to proceed to debate on the Bipartisan Congressional Trade Priorities and Accountability Act of 2015 (TPA-2015). Reinsch also applauded Senators for approving legislation to extend Trade Adjustment Assistance (TAA), the African Growth and Opportunity Act (AGOA), the Generalized System of Preferences (GSP) and the preferential duty treatment program for Haiti.

“Today’s action in the Senate paves the way for robust debate on the TPA-2015 bill, legislation which will help U.S. negotiators secure trade agreements that contribute to U.S. economic growth and support American jobs. This step forward builds momentum toward floor votes on the TPA legislation in both the Senate and the House.

“In addition to moving the ball forward on TPA, we also welcome the Senate’s approval of legislation to extend TAA and critical preference programs – AGOA, GSP and the preferential duty treatment program for Haiti.

“All of the trade measures considered today are vital components of a comprehensive U.S. trade agenda, and we commend the Senate for taking action in the best interest of American employers, exporters and workers.”

About NFTC
Serving America’s Global Businesses Since 1914! 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: