Category: Press Releases and Statements

NFTC Statement on Chairman Camp’s Tax Reform Plan

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Washington, D.C. – National Foreign Trade Council (NFTC) Vice President for Tax Policy Cathy Schultz released the following statement on House Ways and Means Chairman Dave Camp’s introduction of a tax reform discussion draft.

“We are pleased that Chairman Camp is continuing the tax reform dialogue and that he is committed to lowering corporate tax rates and moving toward a territorial-style exemption tax system similar to the rest of the world.

“While there are parts of the discussion draft that raise concern, we are committed to working constructively with Chairman Camp and the Committee to ensure that there is a more level playing field for all industries.”

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About the NFTC
Serving America’s International 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 Releases “A Post-Bali Agenda for the WTO”

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Washington DC – The National Foreign Trade Council (NFTC) today released “A Post-Bali Agenda for the WTO,” a new paper highlighting several key initiatives that the NFTC believes the World Trade Organization (WTO) should pursue and advance. Taken together, these initiatives would build on the momentum generated by the landmark agreement reached on trade facilitation, further enhance the WTO’s role in international trade policy and enable more inclusive access in the global marketplace.

“The progress made in Bali in December was significant because it showed that the WTO is a viable negotiating forum for modernizing global rules in the 21st century,” said NFTC Vice President for Global Trade Issues Jake Colvin. “The NFTC and its members are hopeful that the WTO can keep up the momentum from Bali and continue to make progress in improving trade flows among its member nations. This paper outlines how the WTO might advance a series of key U.S. business community priorities to ensure the organization remains the center of global trade policy.”

The paper calls on the WTO to:

  • Implement the trade facilitation agreement;
  • Conclude a services agreement (Trade in Services Agreement);
  • Update the Information Technology Agreement;
  • Address global challenges, including through an updated Information Technology Agreement, eliminating tariffs on environmentally-friendly goods, setting global standards for foreign investment, enhancing transparency in government procurement, improving global health outcomes and facilitating digital trade; and
  • Leverage the WTO’s existing infrastructure.

“NFTC and its members remain strongly supportive of the WTO as the central international trade body, and are both mindful and appreciative of the various roles of the organization – monitoring, research, dispute settlement, capacity building, and negotiation – in promoting an open and rules-based trading system. While the Geneva-based system remains a far more effective and reliable arbiter of disputes than mechanisms established under bilateral or regional deals and the central organization for international trade, it is vital for the organization to maintain a healthy negotiating component as well,” the paper concludes.

Click here to read the full paper.

About the NFTC
Serving America’s International 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 Senator Ron Wyden as Chairman of the Senate Finance Committee

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Washington DC – The National Foreign Trade Council (NFTC) today welcomed Senator Ron Wyden (D-OR) as Chairman of the Senate Finance Committee. NFTC President Bill Reinsch released the following statement.

“The NFTC congratulates Senator Wyden on his confirmation as Chairman of the Senate Finance Committee. Chairman Wyden has been a leader on trade throughout his Senate career – particularly in addressing 21st century global trade issues – and we have no doubt he will guide the Committee in advancing the U.S. trade agenda to promote economic growth and create American jobs.

“This is a critical moment for the United States with the historic Trans-Pacific Partnership, Transatlantic Trade and Investment Partnership and Trade in Services Agreement negotiations underway, pending Trade Promotion Authority legislation and the potential for comprehensive tax reform. We look forward to continuing to work with Senator Wyden on these important trade and tax issues in his new role as Chairman.”

In October 2013, Chairman Wyden delivered keynote remarks at the NFTC’s annual World Trade Dinner.

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About the NFTC
Serving America’s International 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: Record Export Growth Over Four Consecutive Years Underscores Importance of Advancing U.S. Trade Agenda

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Washington, D.C. – The National Foreign Trade Council (NFTC) today welcomed the announcement by the Department of Commerce that U.S. exports set a new record, reaching $2.3 trillion in 2013 and marking the fourth consecutive year of export growth. The NFTC also welcomed the news that the U.S. trade deficit decreased by more than $63 billion.

NFTC President Bill Reinsch released the following statement.

“We are encouraged that for the fourth year in a row the United States has achieved record growth in U.S. goods and services exports. More exports mean more American jobs and economic growth nationwide, all of which are critical to driving sustained economic recovery.

“To continue maximizing U.S. export growth, we must further expand market access through trade agreements, such as the Trans-Pacific Partnership, Transatlantic Trade and Investment Partnership, Trade in Services Agreement and negotiations to eliminate tariffs on environmental goods. These initiatives will give the United States greater access to some of the largest economies in the world, benefiting the U.S. economy and American businesses and workers.

“Modernized Trade Promotion Authority (TPA) legislation is essential to ensuring that our negotiators can deliver the most economically beneficial results in these and future trade deals. We urge Congress and the Administration to work together to take action on TPA as soon possible this year.”

About the NFTC
Serving America’s International 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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NASBITE International Honors NFTC with 2014 Advancing International Trade Award

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Washington DC – On Thursday, January 30, 2014, the National Association of Small Business International Trade Educators International (NASBITE International) announced that the National Foreign Trade Council (NFTC) will receive the 2014 Advancing International Trade Award on April 4, 2014, during the NASBITE International annual conference in Memphis, TN. The Advancing International Trade Award is given to organizations or individuals who have contributed to the advancement of international trade for four or more years. For the NFTC, the legacy of advancing international trade goes back 100 years. It is the oldest and largest American organization dedicated solely to international business issues.

“The NFTC is honored to receive this award,” said NFTC President Bill Reinsch. “Now in our centennial year, the NFTC has long been an advocate for an open, rules-based global trading system, and has worked to advance critical trade agreements that have boosted U.S. economic growth and increased American jobs. We greatly appreciate NASBITE International’s recognition of our work, and we will continue to push on in our efforts to expand U.S. trade.”

“We want to thank NASBITE International, an organization run for and by fellow global business professionals, for this prestigious honor,” said NFTC Vice President James Wilkinson. “Since our inception, the NFTC’s mission has been to advance and expand U.S. trade by helping America’s international businesses gain new markets. The NFTC is grateful for NASBITE International’s acknowledgment of our century of efforts through this award.”

This year the NFTC will celebrate its 100th year. In commemoration of its centennial, the NFTC is convening a nationwide series of activities and programs to examine the future of trade in the context of key industries, regions and issues.


About the NFTC
Serving America’s International 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 Agrees: Expanded Trade and Immigration Reform Critical to U.S. Economic Growth and Competitiveness NFTC President Bill Reinsch Welcomes President’s SOTU Remarks on International Trade, Immigration Reform

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Washington DC – National Foreign Trade Council (NFTC) President Bill Reinsch today released the following statement in response to President Barack Obama’s State of the Union address:
 
“Tonight, during his fifth State of the Union address, we were encouraged to hear President Obama highlight the importance of expanding trade and reforming our immigration system to U.S. economic growth and competitiveness.
 
“The Administration, Congress and the U.S. business community have a common goal – to grow the U.S. economy. With the United States currently negotiating some of the most ambitious trade agreements in our history – the Trans-Pacific Partnership, Transatlantic Trade and Investment Partnership, Trade in Services Agreement and multilateral trade initiatives at the World Trade Organization – we have a real opportunity to do just that by expanding market access for U.S. goods and services exports across the globe.
 
“But, in order to maximize the benefits of these and future trade deals, we need updated Trade Promotion Authority (TPA). We urge the Administration and Congress to work together to ensure passage of TPA legislation ASAP this year.
 
“In addition to furthering our trade relations, we also need new immigration policies that position the United States to attract and retain the world’s best and brightest, ensuring long-term competitiveness. It is critical that Congress act quickly on immigration reform.”
 


About the NFTC
Serving America’s International 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 Launch of Environmental Goods Trade Negotiations

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Washington, DC – The National Foreign Trade Council (NFTC) welcomed today’s announcement that the United States and other World Trade Organization (WTO) members will launch negotiations for a plurilateral agreement to eliminate tariffs on environmental goods. NFTC Vice President for Global Trade Issues Jake Colvin released the following statement.
“We congratulate U.S. Trade Representative Michael Froman and his team and the other negotiating countries for embarking on this initiative to eliminate tariffs on environmental goods. The launch of these negotiations is not only a significant step toward addressing climate change, but is also important for building on the momentum generated by the recent Bali agreement to advance future trade negotiations under the umbrella of the WTO.
“With this agreement, we have a great opportunity to set a standard for ways trade policy can address pressing global challenges, including the environment.
“The NFTC has long been a supporter of trade liberalization for environmental goods at the WTO and APEC, and we look forward to working with negotiators to achieve an expeditious and ambitious outcome that includes a critical mass of trade of key environmental goods.”


About the NFTC
Serving America’s International 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 Introduction of TPA Legislation

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Washington DC – National Foreign Trade Council (NFTC) President Bill Reinsch today released the following statement on the introduction of Trade Promotion Authority (TPA) legislation by Senate Finance Committee Chairman Max Baucus and Ranking Member Orrin Hatch and House Ways and Means Committee Chairman Dave Camp.

“Trade Promotion Authority is a necessary tool to negotiate and implement trade agreements that support U.S. economic and export growth and job creation. We commend Sens. Baucus and Hatch and Rep. Camp for remaining steadfast in their commitment to advancing TPA legislation.

“Congress hasn’t had a substantive debate on trade in more than a decade, and TPA allows Congress to execute its constitutional authority to shape the U.S. trade agenda and set negotiating objectives.

“With a series of U.S. trade negotiations currently in progress – the Trans-Pacific Partnership, Transatlantic Trade and Investment Partnership and the Trade in Services Agreement – we urge Congress to pass TPA as soon as possible to maximize the benefits of these and future trade deals.

“The NFTC will comment in greater detail on the bill that has been introduced once it has had an opportunity to review the text.”

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About the NFTC
Advancing Global Commerce for 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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USA*Engage and NFTC Statement on Introduction of New Iran Sanctions Legislation

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Washington, DC – USA*Engage and the National Foreign Trade Council (NFTC) today released the following statement on the introduction of new Iran sanctions legislation.

“USA*Engage and the National Foreign Trade Council urge senators to oppose legislation introduced today by Senators Robert Menendez and Mark Kirk, and instead support the Administration’s effort to negotiate a comprehensive agreement with the Islamic Republic of Iran to limit Iran’s nuclear development to peaceful uses under the Nuclear Proliferation Treaty.

“The interim agreement, in fact, gives the P5+1 and their Iranian counterparts diplomatic space and time for the effort. It also retains intact the unprecedented multilateral sanctions regime directed at Iran’s economy. The indubitably modest sanctions relief will be implemented only upon verification that Iran stops the activities enumerated in the interim agreement.

“Given the minimal risk and the possibility of real success, we dispute the argument that Congressional passage of further prospective sanctions now will add leverage against Iran in the negotiations. On the contrary, such an action would violate the stipulation that no new sanctions be enacted during the course of the negotiations. It strains credulity to assert that passing prospective sanctions now will increase the prospects for a successful negotiation, still less legislating any sine qua non standard for an agreement.

“The Senate will retain the ability to pass further sanctions expeditiously down the road if the current diplomatic effort fails. Exercising appropriate restraint in the present will insure that the United States, the members of the European Union and the other countries that have allied to limit Iran’s nuclear program to verifiable peaceful uses remain united in the effort.”

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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 world wide.

About the NFTC
Advancing Global Commerce for 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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