Category: Press Releases and Statements

NFTC President Delivers Remarks on the Administration’s Trade Policy at the Pacific Northwest Waterways Association

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Washington DC – Yesterday, National Foreign Trade Council (NFTC) President Bill Reinsch delivered remarks at the Pacific Northwest Waterways Association on the Obama Administration’s trade policy. During his remarks, Reinsch examined the outlook for trade in 2014 from the Trans-Pacific Partnership (TPP) and Transatlantic Trade and Investment Partnership (TTIP) negotiations to passage of trade promotion authority (TPA) legislation to the challenges of a 21st century global trading system.
 
In his remarks, Reinsch stated:
 
“Last year when I was giving these speeches, I predicted a year with lots of activity and few results. That’s pretty much what happened. We made progress in a number of areas, but, aside from the Bali Ministerial, there were few results. And even that was hardly a huge outcome; although, just getting an agreement was a significant accomplishment. This year, had I been writing this speech two months ago, I would have said 2014 will be a year of results, but, now, eight weeks into the year, it’s beginning to look more like 2013.  

“The agenda hasn’t changed. And – fair warning – it is largely issues that are indirectly rather than directly related to what you do. Almost everything begins with ‘T’ – TPA, TPP, TTIP, TISA and TAA – but there is also ITA and now EGSA. These are big deals in every sense of the word, and they reflect both the rapid changes occurring in the trading system and the evolution in countries’ strategies for dealing with multilateral gridlock.”
 
Click here to read the full remarks.

Miller & Chevalier and The National Foreign Trade Council Announce Results of the Eighth Annual Tax Policy Forecast Survey, Survey Respondents Say No Chance of Fundamental Tax Reform in 2014

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Washington DC– Miller & Chevalier Chartered and the National Foreign Trade Council (NFTC) today announced the results of their 2014 Tax Policy Forecast Survey measuring the current perspectives of leading business tax executives on the tax legislative agenda in 2014. In light of pending changes in tax-writing committee leadership, the pending Congressional mid-term elections and competing legislative priorities, survey respondents believe tax reform is such a low priority that it might be off the agenda for 2014.
 
 
Business tax executives overwhelmingly support fundamental tax reform, but not one respondent predicted tax reform will be enacted in 2014. Respondents believe that the combination of a divided Congress and the Obama Administration’s priorities have the most negative impact on any chance of reform in 2014. Most executives chose House Committee on Ways and Means Chairman Dave Camp, who is term limited, as the most influential tax policymaker this year.
 
 
“Respondents don’t believe comprehensive tax reform can be enacted given the current legislative and political environment but are hopeful that short-term priorities such as the tax extenders package will be addressed,” said Miller & Chevalier Member Marc Gerson, former Majority Tax Counsel to the U.S. House of Representatives Committee on Ways & Means.
 
 
Most respondents were apprehensive over the tax policies tied directly to the global competitiveness of U.S. businesses. Executives believe that the enactment of revenue offsets absent a competitive tax system or competitive tax rates, the statutory tax rate and taxation of international operations are the most important concerns they would like the government to correct.
 
 
“American businesses are looking for significant tax reform that will level the playing field with the rest of the world. Survey results indicate that the distinct partisanship and lack of prioritization by the Administration has top executives concerned that the worldwide tax system and statutory tax rate will not be reviewed and reformed,” said Catherine Schultz, Vice President for Tax Policy at the NFTC.
 
 
Survey Highlights
 
 
In January 2014, Miller & Chevalier and the NFTC distributed a survey via email to leading business tax executives, including Vice Presidents, Directors and Managers of Tax at a broad cross-section of U.S.-based and foreign-based multinational corporations. Some survey highlights include:
 
  • U.S. businesses are uneasy about global competitiveness. Topping the list of tax concerns respondents would like addressed are the enactment of revenue offsets absent a competitive tax system or competitive tax rates (24 percent), the statutory tax rate (18 percent) and taxation of international operations (18 percent).
    • Respondents say changing the worldwide tax system (32 percent) and reducing the statutory tax rate (35 percent) could be game changers in the global marketplace.
  • Divisions in Congress coupled with the Administration’s weak support are preventing tax reform. Obama Administration priorities (40 percent) and the split in Congressional control (30 percent) were cited by respondents as the factors that will have the most negative impact on reform in 2014.
 
  • Respondents believe House Committee on Ways and Means Chairman Dave Camp is the most influential tax policymaker, followed by President Barack Obama, Senate Majority Leader Harry Reid and new Senate Finance Committee Chairman Ron Wyden. Chairman Camp’s release of the Tax Reform Act of 2014 after the survey date only solidifies his role as the top tax policymaker.
  • More than three quarters of respondents believe that split party control of the House and Senate will result in little or no tax legislation this year.
  • Not even one respondent predicted tax reform will be enacted in 2014.
For a full copy of the survey results and analysis, please contact Laura Miller at (312) 252-4104 or lmiller@greentarget.com or visit www.millerchevalier.com or www.nftc.org.
 
 
About Miller & Chevalier

 
Founded in 1920, Miller & Chevalier is a Washington, DC law firm with a global perspective and leading practices in Tax, Employee Benefits (including ERISA), International Law and Business, White Collar and Internal Investigations, Complex Litigation and Government Affairs. In an era of big law, Miller & Chevalier is a top-ranked firm sharply focused on targeted areas that interact with the federal government. Over the past three years, the firm’s lawyers have represented nearly 40 percent of the Fortune 100, nearly a quarter of the Fortune 500 and nearly one-third of the Global 50. Based in Washington, DC, a significant number of firm lawyers have held senior positions in the U.S. government and have written many of the regulations they currently help clients navigate. For more information on the firm, visit www.millerchevalier.com.
 

About the National Foreign Trade Council

 
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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CONTACTS:
Marc Gerson, Member, Tax Department, Miller & Chevalier, 202-626-1475
Catherine Schultz, Vice President, Tax Policy, National Foreign Trade Council, 202-887-0278, ext. 2023
Laura Miller, Media Relations, Greentarget, 312-252-4104

 

 

 

NFTC Welcomes Administration’s 2014 Trade Agenda

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Washington DC – The National Foreign Trade Council (NFTC) today welcomed the release of the Administration’s 2014 Trade Agenda. NFTC President Bill Reinsch released the following statement.

“The Administration’s 2014 Trade Agenda outlines many issues of importance to the NFTC and our members. Much progress has been made in Trans-Pacific Partnership (TPP) negotiations, and the Transatlantic Trade and Investment Partnership (TTIP) talks are well underway. Once completed, these two historic agreements will significantly expand U.S. market access, increase exports and create American jobs, and we are encouraged to see that concluding these high-standard agreements is a main focus for the Administration and its trade negotiators.

“However, in order to ensure that these agreements and future agreements benefit the U.S. economy, businesses and workers, we need Congress to pass Trade Promotion Authority (TPA) legislation. We are pleased to see that passage of TPA is a top priority for the Administration, and we urge Congress to act as soon as possible this year.

“We also welcome the Administration’s commitment to build off the recent momentum in Bali and continue to actively pursue and be a key player in negotiating multilateral agreements through the WTO.

“Additionally, the trade agenda also highlights the Administration’s commitment to work with Congress to renew Trade Adjustment Assistance legislation, an action the NFTC fully supports, as it will enhance U.S. competitiveness to promote growth and prosperity for American businesses and workers.”
 

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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:

 

 

 

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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