Category: Press Releases and Statements

NFTC Joins Other Leading Organizations in Launching Business Coalition for Transatlantic Trade

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Washington DC – The National Foreign Trade Council (NFTC) today joined with other business organizations in launching the Business Coalition for Transatlantic Trade (BCTT) at an event today on Capitol Hill. The NFTC, a leading member of the coalition, released the following statement.

“We are encouraged by the significant support Members of Congress have shown for a comprehensive transatlantic trade and investment agreement. The longstanding U.S.-EU commercial relationship is critical, and an agreement will only further strengthen transatlantic ties, boost economic growth and increase U.S. jobs and exports.

“There is momentum building both here in the United States and the EU for robust dialogue on how best to enhance our commercial relations through this agreement, and we are hopeful for an ambitious conclusion to the negotiations. On behalf of our members, and as a member of the Business Coalition for Transatlantic Trade, we look forward to working with both the Administration and Congress in the coming months to advance the transatlantic economic partnership.”

According to the Office of the U.S. Trade Representative, last year the U.S.-EU economic relationship generated an estimated $2.7 billion in goods and services trade daily, and was directly responsible for more than six million jobs, as of 2010. In terms of investment, in 2011, foreign direct investment between the EU and the United States totaled an estimated $3.7 trillion.

 
 

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’s Global Innovation Forum Launches Immigration Discussion Series at Duke University

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Washington DC– Yesterday, the National Foreign Trade Council (NFTC) Foundation’s Global Innovation Forum held the first in a series of regional roundtable discussions, themed “Goodbye Global Innovators?,” on the impact of U.S. immigration and visa policies on American competitiveness. The event, which took place at the Duke University Fuqua School of Business, featured two panel discussions – “The Impact of U.S. Visa and Immigration Policies on American Businesses and Entrepreneurs” and “The Impact of Visa and Immigration Policies on Innovation, Research and Life in University Communities.” Both panels focused on the ability of the United States to attract and retain top global talent, particularly students, entrepreneurs, researchers and high-skilled workers.

The purpose of the discussion series is to convene students, faculty, entrepreneurs and business voices to elicit stories on how current policies affect the business and education communities to better inform the debate surrounding high-skilled immigration and global mobility policies in Washington.

“Attracting and retaining global talent is critical to American innovation,” said NFTC Vice President for Global Trade Initiatives Jake Colvin. “Fixing America’s outdated immigration and visa systems and making the United States more attractive as a destination for the world’s best and brightest is essential to maintaining our competitive edge.”

Business and university leaders, students and entrepreneurs from the Research Triangle area participated in yesterday’s event. Speakers included: Madhu Beriwal, President and CEO, IEM; Nicole Hedrick, HR Director, Global Immigration, IBM; Chris Hare, Founder and CEO, The nTeTe Group; Jeremy Robbins, Director, Partnership for a New American Economy; Aaron “Ronnie” Chatterji, Associate Professor, Fuqua School of Business, Duke University; Judith Cone, Special Assistant to the Chancellor for Innovation & Entrepreneurship, University of North Carolina at Chapel Hill; Pan Wu, Ph.D. candidate, Department of Chemistry, Duke University; and Michael Schoenfeld, Vice President, Public Affairs and Government Relations, Duke University, and Chairman of the Board, Greater Durham Chamber of Commerce.

The NFTC’s Global Innovation Forum discussion series on immigration and American competitiveness is part of a national innovation initiative made possible by the GE Foundation. Yesterday’s event was held in partnership with Duke University, the Durham Chamber of Commerce and Partnership for a New American Economy.

The next discussion in the series will be held at the University of Texas at Austin on April 3. 


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About the NFTC
The National Foreign Trade Council was founded in 1914 and is the oldest and largest trade association devoted entirely to advocating an open, rules-based international trade system. NFTC promotes open markets and U.S. engagement in the world on behalf of its member companies, which include Abbvie, Caterpillar, eBay, General Electric, Hanes Brands, IBM, Microsoft, Procter & Gamble and Wal-Mart. The Global Innovation Forum is a project of NFTC’s educational arm, the NFTC Foundation, which brings together diverse groups of stakeholders to create a better understanding of how the innovation ecosystem and public policy can improve the lives of workers, families and communities. 
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NFTC Welcomes Administration’s Notification to Congress of Intent to Negotiate U.S.-EU Trade Agreement

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Washington DC– The National Foreign Trade Council (NFTC) today welcomed the Obama Administration’s notification to Congress of its intent to enter into trade negotiations with the European Union (EU).

“We applaud the Administration for working together with EU leaders to formally launch trade negotiations, which have the potential to advance and further strengthen our trade and investment ties,” said NFTC President Bill Reinsch. “The transatlantic commercial relationship is already the most economically significant and integrated in the world, and a comprehensive agreement would help to ensure the growth of U.S. goods and services exports, as well as the creation of American jobs.”

According to the Office of the U.S. Trade Representative, last year the U.S.-EU economic relationship generated an estimated $2.7 billion in goods and services trade daily, and was directly responsible for more than six million jobs, as of 2010. In terms of investment, in 2011, foreign direct investment between the EU and the United States totaled an estimated $3.7 trillion.

“Although both sides acknowledge the great potential and importance of this agreement, the issues that divide us are not new. Particularly with respect to standards and regulations, past efforts to harmonize our differences have not been successful,” Reinsch continued. “However, this new attempt reflects the realization that together the EU and United States can best meet the new competitive challenges in the trading system by working together. Hopefully that will provide the momentum to successfully conclude this effort.”

“Given the significance and scope of the U.S.-EU economic relationship, as well as the substantive issues to be addressed, these negotiations will be complex, and we urge the negotiators to work toward an agreement that will lead to expanded market access and increased regulatory compatibility,” said NFTC Vice President for Regional Trade Initiatives Chuck Dittrich. “If these goals are achieved, the agreement will lead to increased economic growth on both sides of the Atlantic. We encourage the negotiators to work toward an ambitious agreement.”
 

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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 Statement on Japan’s Announcement of Intent to Seek Entry to TPP Negotiations

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Washington DC – The National Foreign Trade Council (NFTC) today welcomed news that Japan has announced its intent to seek to join the Trans-Pacific Partnership (TPP) negotiations, and urged negotiators to maintain their commitment to complete a high-standard, comprehensive agreement. The NFTC released the following statement.

“The inclusion of Japan – the third largest economy in the world – would be significant to the TPP negotiations, as it would have the potential to further increase U.S. economic engagement in the Asia-Pacific region and expand unprecedented market access for U.S. businesses, workers, farmers and service providers,” said NFTC Vice President for Regional Trade Initiatives Chuck Dittrich. “We welcome today’s news, and we also caution that with Japan’s inclusion, it is critical that efforts to achieve a high-standard final agreement be maintained. For this to happen, Japan must be committed to dismantle deeply-rooted tariff and non-tariff barriers to trade in key sectors, including autos, insurance, pharmaceuticals and agriculture.”

“The TPP partners have a real opportunity to conclude a comprehensive agreement that could be the gold standard for future plurilateral trade agreements. Japan must continue to reorient its engagement with the United States and other TPP partners for the agreement to reach its full potential,” said NFTC President Bill Reinsch. “The Administration has made clear that it would like to see a conclusion of the negotiations this year, so as the United States and other TPP partners seek to expand membership further, it is critical to maintain momentum while still abiding by the core commitment to a comprehensive agreement that precludes no sector and addresses all issues relevant in today’s integrated global economy.”

 

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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 Joins In Urging Timely Appointments to the Eximbank

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March 8, 2013

The President
The White House
1600 Pennsylvania Ave. NW
Washington, DC 20500

Dear Mr. President:

The undersigned associations view the U.S. Export-Import Bank (Ex-Im), with its mission to create or sustain U.S. jobs, as one of the most important tools we have to promote economic growth through exports. Accordingly, we urge you to move swiftly on nominations for the Ex-Im Bank’s Board of Directors. The bipartisan Board of Directors is instrumental to its day-to-day operation – managing the Bank and approving its transactions.

Ex-Im Bank authorized more than $35 billion in financing in FY 2012, supporting more than 255,000 American jobs. The Bank worked with more than 3,400 U.S. companies, 85 percent of which were small businesses. Ex-Im is a vital tool in leveling the global playing field, helping manufacturers to offset the financing support our foreign competitors receive from their governments, and in securing new customers in emerging markets. With the U.S. economy still growing slowly, it is vital that we maintain the competitiveness of U.S. exporters. The Ex-Im Bank also generates enough fees to offset its costs, contributing the remaining surplus to the U.S. Treasury.

By law, the Bank’s Board of Directors must have a quorum – or three of its five members – to approve transactions. Ex-Im Bank Chairman and President Fred P. Hochberg was confirmed by the Senate on May 14, 2009. His term ended on January 20, 2013, and he is currently leading the Bank under a six-month extension. Director and Vice Chair Wanda Felton and Director Larry Walther are also continuing to serve under similar extensions. The extensions allowed under the Bank’s charter will expire, at the latest, in July. If three of the five positions go unfilled, the Bank’s business will grind to a halt.

Failure to act quickly on nominations for the pending Board vacancies would threaten those hundreds of thousands of American jobs that depend directly or indirectly on Ex-Im Bank’s export financing. Reliable access to export financing is a vital part of being globally competitive, and export financing has taken on renewed importance in today’s unsettled financial environment. Exporters increasingly face difficulties in obtaining credit and working capital, and overseas customers are financially stretched – conferring a decisive advantage on exporters who can provide better financial terms.

If the Bank’s activities are halted, without a quorum to approve transactions, U.S. exporters would lose access to this crucial “lender of last resort.” The playing field would tilt against U.S. companies, and customers may turn to foreign competitors that have support from aggressive foreign export credit agencies. Exports are increasingly critical to manufacturers in the United States, and the latest trade data highlights the continuing challenges in the global marketplace.

U.S. goods exports in 2012 grew by only $66.7 billion, less than half the value of export growth between 2010 and 2011. This 4.9 percent increase in exports is far from the 15 percent rate of increase necessary for the United States to meet the goal of the National Export Initiative and create much-needed new economic opportunities. Disrupting Ex-Im Bank’s transactions would only put up another road block for U.S. exporters.

Ex-Im Bank needs stable, dynamic leadership that will ensure the Bank maintains its track record of continuous improvements, fiscal responsibility and effective export promotion. The undersigned associations respectfully urge you to move swiftly on nominations for the Ex-Im Bank’s Board of Directors. We stand ready to work with you, your administration, and Congress to achieve the goal of doubling America’s exports.

Aerospace Industries Association
Association of Equipment Manufacturers
Coalition for Employment through Exports
Emergency Committee for American Trade
Financial Services Roundtable
General Aviation Manufacturers Association
National Association of Manufacturers
National Foreign Trade Council
National Small Business Association
Nuclear Energy Institute
Small Business Exporters Association
TechAmerica
U.S. Chamber of Commerce

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 Names James Wilkinson Vice President for Strategy and Growth

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Washington, DC – The National Foreign Trade Council (NFTC) today announced that James Wilkinson will join the association as Vice President for Strategy and Growth, effective April 15. Wilkinson has served as Executive Director of the Washington International Trade Association (WITA) since 2003.

“James has done a superb job of growing WITA and its membership over the past nine years, and I am excited that we will now be able to take advantage of his many talents on behalf of the NFTC, particularly as we approach our centennial,” said NFTC President Bill Reinsch. “This is a great fit on many levels, and we look forward to his arrival. Given his extensive background in international trade, we know that James will be an asset as we advocate policies to maximize U.S. economic growth and job creation through increased engagement in the global economy.”

As Vice President for Strategy and Growth, Wilkinson will lead NFTC’s business development efforts, including marketing, communications and membership growth, as well as coordination with the Board of Directors and organizing the NFTC Foundation’s annual World Trade Dinner.

While at WITA, Wilkinson doubled individual membership and the number of corporate sponsors and group memberships. He also launched the Young Trade Professionals and USTR Alumni Association affiliate groups. In February 2012, he was appointed by U.S. Secretary of Commerce John Bryson to the District Export Council (DEC), a public-private sector organization helping small- and medium-sized enterprises in the area advance their export operations.

Prior to joining WITA, Wilkinson managed business development and customer relations for several international educational organizations. Wilkinson is also active in municipal government, serving in his second term as Mayor Pro Tem for the Town of Berwyn Heights, MD. In this capacity, he serves as Head of the Public Works Department, leads the Town’s efforts to build more sidewalks, particularly along bus routes and routes to schools, and serves as Mayor when the Mayor is absent. He has served as a Council Member since May of 2009.

Wilkinson holds a master’s degree in Organizational Leadership from Gonzaga University, and in 2012 earned the prestigious Certified Association Executive (CAE) credential from the American Society of Association Executives (ASAE).

 

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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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Miller & Chevalier and National Foreign Trade Council Announce Results of the Seventh Annual Tax Policy Forecast Survey

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Washington, DC – Miller & Chevalier Chartered and the National Foreign Trade Council (NFTC) today announced the results of their 2013 Tax Policy Forecast Survey measuring the current perspectives of leading business tax executives on the tax legislative agenda in 2013. The results demonstrate a leading concern that in light of the current political and fiscal environment, Congress will enact revenue offsets to fund other legislative initiatives rather than to make the U.S. tax system more competitive.

Business tax executives continue to believe that fundamental tax reform is necessary, but expressed increased doubt that such reform will be enacted in the near future. Respondents said the lack of activity is attributable to a variety of factors, including the existence of competing legislative priorities, a lack of public agreement, budget constraints and a lack of Administration interest.

“Respondents this year express deep concern and doubt over the future of tax policy in 2013. The focus on revenue offsets and the uncertainty regarding fundamental tax reform presents a very challenging environment for taxpayers this year,” said Miller & Chevalier Member Marc Gerson, former Majority Tax Counsel to the U.S. House of Representatives Committee on Ways & Means.

A majority of respondents also believe that an increase in the U.S. taxation of their international operations will be used for revenue, which is a top business concern in 2013.

“Worldwide American companies favor tax reform that will modernize the U.S. corporate tax rate and tax system to bring it in line with the rest of the world and are clearly concerned that their competitive situation will be further jeopardized by new U.S. taxes being imposed on them to offset pending budgetary problems. The focus on raising revenue from the business sector has business leaders worried about the future of tax reform,” said Catherine Schultz, Vice President for Tax Policy at the NFTC.

Survey Highlights

In January 2013, Miller & Chevalier and the NFTC distributed a survey via email to leading business tax executives, including Vice Presidents, Managers and Directors of Tax at a broad cross-section of large U.S.-based and foreign-based multinationals and major trade associations. Some survey highlights include:

  • Top two business concerns in 2013: The enactment of revenue offsets without adoption of a competitive tax system and/or competitive tax rates (39 percent of those responding) and changes to the U.S. taxation of international operations (21 percent of the respondents) are the top two concerns of business tax executives in 2013.
  • Most impact on tax policy in 2013: A plurality of business tax executives (34 percent) believe that a continued focus on the economy will have the most positive impact on tax policy in 2013,while 56 percent of executives believe that the Administration’s priorities (which will likely include revenue raising) will have the most negative impact on tax policy in 2013.
  • International operations: 68 percent of respondents say an increase in the U.S. taxation of international operations is likely to be a revenue source to pay for any Congressional tax initiatives this year, and 47 percent of respondents say such an increase will have a negative impact on their business.

Click here for a full copy of the survey results and analysis, or 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, D.C. 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. For more information on the firm, visit www.millerchevalier.com.

About the National Foreign Trade Council
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.

CONTACTS:
Marc Gerson, Member, Tax Department, Miller & Chevalier, 202-626-1475
Catherine Schultz, Vice President, Tax Policy, National Foreign Trade Council, 202-452-8160
Laura Miller, Media Relations, Greentarget, 312-252-4104

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