Category: Press Releases and Statements

CEE, NFTC Welcome Senate Passage of H.R. 2072, “the Securing American Jobs Through Exports Act of 2011”

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Washington DC – The Coalition for Employment through Exports (CEE) and the National Foreign Trade Council (NFTC) today applauded the Senate for passing H.R. 2072, the Securing American Jobs Through Exports Act of 2011, reauthorizing the Export-Import (Ex-Im) Bank of the United States. This critical piece of legislation ensures Ex-Im’s continued support of U.S. export sales and manufacturing jobs. CEE and NFTC welcome the bipartisan effort to provide the Bank with a reauthorization of extended duration, as it recognizes the important role Ex-Im Bank plays in leveling the playing field for U.S. exporters at a time when exports are increasingly critical to U.S. economic recovery and job creation.

John Hardy, President of CEE, said, “We are grateful to the Senate for the bipartisan work to provide the Bank with the authority needed for it to continue its critical role supporting small and large exporters. With the extension of the Charter expiring at the end of May, we hope the President will sign H.R. 2072 into law at his earliest convenience. The three-year extension and healthy increase in lending level sends the right message to our foreign competitors – American companies that export have the support of their government to level the playing field and help make those sales.”

The legislation also contains language that ensures support for the textile industry, tightens auditing rules, looks to broaden content requirements to support even more U.S. industries, and provides more transparency regarding transactions the Bank is considering.

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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CEE, NFTC Welcome House Passage of H.R. 2072, “the Securing American Jobs Through Exports Act of 2011”

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Washington, DC – The Coalition for Employment through Exports (CEE) and the National Foreign Trade Council (NFTC) applaud today’s passage of H.R. 2072, the Securing American Jobs Through Exports Act of 2011, reauthorizing the Export-Import (Ex-Im) Bank of the United States. This critical piece of legislation ensures Ex-Im’s continued support of U.S. export sales and manufacturing jobs.

CEE and NFTC welcomed the hard work of House Majority Leader Eric Cantor (R-VA) and Minority Whip Steny Hoyer (D-MD) for their bipartisan effort to provide the Bank with a reauthorization of extended duration and which recognizes the important role Ex-Im Bank plays in leveling the playing field for U.S. exporters at a time when exports are increasingly critical to the U.S. economic recovery and job creation.

John Hardy, President of CEE, said, “We are grateful to Majority Leader Cantor and Minority Whip Hoyer for their bipartisan work providing the Bank with the authority needed for it to continue its critical role supporting small and large exporters. With the extension of the Charter expiring at the end of May, we are very hopeful that both Chambers will quickly pass the bill to be sent to the President for his signature. H.R. 2072, with its three-year extension and healthy increase in lending level, sends the right message to our foreign competitors – American companies that export have the support of their government to level the playing field and help make those sales.”

The legislation also contains language that ensures support for the textile industry, tightens auditing rules, looks to broaden content requirements to support even more U.S. industries, and provides a more transparency regarding transactions the Bank is considering.

CEE and the NFTC yesterday sent a letter to all Members of the House, urging them to support the bill.
 

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About CEE
CEE is a not for profit association that operates as an educational and advocacy organization on behalf of our members on legislative and regulatory matters affecting U.S. government export finance and assistance programs: the Export Import Bank, OPIC, the Trade and Development Agency and the Commerce Department export promotion programs. We address any legislative or regulatory issue that may affect the ability of U.S. exporters to utilize these programs, thus we are active on: appropriations for these agencies, trade sanctions that may limit these agencies, and multilateral policies that may limit these agencies. Learn more at http://www.usaexport.org.
 

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 and USA*Engage Say Florida Governor Rick Scott Heeds the Constitution on Cuba, Syria Legislation, But Misses the Point

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Washington DC – The National Foreign Trade Council (NFTC) and USA*Engage today released the following statement regarding Florida Governor Rick Scott’s signing of a bill, HB 959, which prohibits companies from doing business with the state if they invest or have business operations in Cuba or Syria.

“We welcome Gov. Scott’s effective acknowledgement in his signing statement that the legislation is unconstitutional, but the fact remains that he signed the bill anyway, which will only continue the uncertainty and confusion over this fundamental point of law,” said NFTC President Bill Reinsch. “In Crosby v. NFTC in 2000, the U.S. Supreme Court ruled unanimously that in the case of sanctions, when the federal government has acted, the states are preempted. That case dealt specifically with a prohibition on state procurement, and HB 959 falls clearly within its ambit.”

“In the case of Syria and Cuba, the two countries affected by HB 959, the federal government has imposed sanctions and thus has clearly occupied the field, preempting state action,” said USA*Engage Director Richard Sawaya. “The right thing for Governor Scott to have done was to veto the bill and uphold the Constitution. Instead, having signed the bill, Florida will now be subject to extended debate, and ultimately expensive litigation, over whether and how to enforce it.”
 

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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 worldwide.

 

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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US Business Groups Issue Statement Expressing Deep Concern Following Announcement by the New Zealand government of a Public Consultation to Review the Mandated Destruction of Trademarks and Branding in the Tobacco Sector

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The U.S. Chamber of Commerce, the TransAtlantic Business Dialogue, the Emergency Committee for American Trade, the National Association of Manufacturers, the United States Council for International Business and the National Foreign Trade Council issued the following statement in light of the New Zealand government’s announcement that it is pursuing a public consultation regarding plain packaging for tobacco products:

“It is most troubling that as efforts are underway to deepen the opportunities for economic growth and opportunity between the United States and New Zealand, we now find that the New Zealand government is considering the destruction of an industry’s legitimate trademark protection and branding – rights long protected under law and international treaties.

While there is no question that protecting public health is a legitimate objective, there is also no question that trademarks and other forms of intellectual property stimulate innovation and are essential to building vibrant economies. There is no fact-based evidence which suggests that mandating the destruction of intellectual property (IP) will advance public health. We firmly believe the measure in question could instead undermine public health as a result of unintended consequences, such as an increased influx of counterfeit tobacco products.

New Zealand has made binding commitments under international obligations to protect IP while it has no such obligation to mandate plain packaging of tobacco products. There are numerous methods to effectively regulate the tobacco industry that do not undermine the protection of IP, do not have such damaging unintended consequences, and are consistent with New Zealand’s international trade obligations. New Zealand, as a world leader in the international trading system, surely recognizes the critical importance of abiding by international trade rules and the value of not undermining that system. We do not believe the current international trading system in any way impedes the ability of governments to regulate in the public interest. But, the mandated trademark destruction through government imposed plain packaging does violate international trade rules.

New Zealand has long called upon trading partners to avoid arbitrary measures not sufficiently grounded in science when regulating industry. The destruction of branding and the related trademarks of an industry without reliable evidence to support these actions defy these long-held views that science should be the foundation of regulation. This assault on trademark represents a fundamental challenge to the global IP system we have fought hard to build. Although presently this effort is only confined to tobacco products, we see this as a systemic threat to rules which intellectual property and the trading system is dependent upon. We hope the New Zealand government will consider the concerns we have raised for the possible impact on New Zealand exports, such as dairy and wine, should other governments feel emboldened to take similar measures.

As leading representatives of business, we rely on the rules-based international trade framework to sustain economic growth, employment, innovation and prosperity. We encourage governments, including in New Zealand, to reflect on not only the importance of the rules based international system in their actions, but also the science and evidentiary basis for such an extreme step, and call upon the New Zealand government to place the effort in the well-intentioned, yet ill-advised, category.”
 

For additional information please contact:

U.S. Chamber of Commerce Trinh Nguyen 202-463-5379,
TransAtlantic Business Dialogue Kathryn Hauser +1-202-559-9299
Emergency Committee for American Trade Cal Cohen +1-202-659-5147
National Association of Manufacturers Frank Vargo +1-202 637 3144
National Foreign Trade Council Jennifer Cummings +1-202-887-0278
US Council for International Business Jonathan Huneke +1-212-703-5043“

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 Welcomes Announcement of May 15 Implementation Date

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Washington DC – The National Foreign Trade Council (NFTC) today applauded the U.S. and Colombian governments for working together to set a date for implementation of the U.S.-Colombia Free Trade Agreement (FTA). The NFTC welcomed the Administration’s announcement yesterday that the agreement will enter into force on May 15, 2012. The NFTC released the following statement:

“We welcome the announcement and applaud the Administration for working in concert with the Colombian government to set a date for implementation of the FTA, as the agreement will further strengthen our longstanding bilateral economic ties and promote U.S. export growth and job creation.

“Colombia is fast becoming a leading economic player in Latin America. With the third largest economy and more than 46 million consumers, Colombia is an expanding market for U.S. goods and services. Implementation of the agreement will ensure that American companies, farmers and ranchers will remain competitive in this critical market and have new opportunities to maximize economic growth and create American jobs.

“The NFTC urges the Administration to press forward and continue to work with the Panamanian government, as it did with South Korea and Colombia, to implement the U.S.-Panama FTA as soon as possible.”
 

 
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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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U.S. Business Organizations Welcome Myanmar Elections and Encourage Continued Reform

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WASHINGTON DC – The National Foreign Trade Council, the US-ASEAN Business Council, and the U.S. Chamber of Commerce issued the following statement after Myanmar’s by-elections on April 1:

“We are encouraged by the positive developments in Myanmar, and what appears to have been a much improved electoral process compared to the last elections. This election is an important milestone in that country’s ongoing process of reform. Resolving political differences will be fundamental to Myanmar’s economic development, and to the welfare of its people.

“Further, we support the enhanced U.S. diplomatic engagement with Myanmar that has occurred over the past several months. We call for its continuation and expansion, including taking the next step in the administration’s already-announced plans to upgrade the status of our embassy in Yangon by nominating a U.S. ambassador as soon as possible. We believe that such engagement has been, and will be, crucial in encouraging and supporting further reform.”
 

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The National Foreign Trade Council (NFTC) is the historic U.S. business organization advocating a rules-based world economy. Founded in 1914 by a group of American companies that supported an open world trading system, the NFTC and its affiliates serve more than 300 member companies through offices in Washington and New York.”

The US-ASEAN Business Council has represented the largest U.S. companies doing business in the Association of Southeast Asian Nations for over 25 years. Council members span all industry sectors, and include newcomers to the region as well as those active in Southeast Asia for over 100 years.

The U.S. Chamber of Commerce is the world’s largest business organization, and represents the interests of more than 3 million businesses of all sizes, sectors, and regions. Chamber members range in size from small enterprises and local chambers to leading industry associations and large corporations.

Contact:
Richard Sawaya, NFTC (202) 887-0278
Anthony Nelson, US-ASEAN Business Council (202) 289-1911
Bobby Maldonado, U.S. Chamber of Commerce (202) 463-5682
 

NFTC Hosts Midwest Business Dialogue on Succeeding in the Global Economy with Commerce Under Secretary Sánchez, Chicago Council on Global Affairs

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Washington DC – The National Foreign Trade Council (NFTC) Foundation hosted a high-level workshop in Chicago on March 16 with the Chicago Council on Global Affairs on “Succeeding in the Global Economy.” The dialogue, which featured over 100 Midwest business and community leaders, explored the role of global markets in the success of American companies and workers and how the United States can better compete for the global demand, investment and talent to ensure that America remains the world’s innovation leader in the 21st century.

In a breakfast keynote address, Francisco J. Sánchez, Under Secretary of Commerce for International Trade at the U.S. Department of Commerce, emphasized the role of exports in helping small businesses in America create jobs and access demand in fast-growing international markets.

“Over the past several years, businesses that exported – even to just one or two markets – on the whole grew faster than those that focused solely on the domestic market,” Under Secretary Sánchez noted. “Ninety-five percent of the world’s consumers live outside of the United States, and companies need to develop a strategy to take advantage of that opportunity.”

Sánchez highlighted several ways that the Commerce Department can help companies research overseas markets and connect with new partners though U.S. government initiatives such as the Gold Key Matching Service. He also presented Bill Martin, a founder of Illinois-based ShopperTrak, the world’s largest provider of retail and mall foot-traffic counting services, with an export achievement award.

Representatives from companies including Illinois Tool Works, Procter & Gamble and ShopperTrak, and experts from the Brookings Institution, U.S. International Trade Commission and Kellogg School of Management at Northwestern University then led a conversation about the role of global trade, investment flows and innovation in the American economy.

Participants highlighted the challenge and opportunity of increasingly sophisticated global supply chains. Several companies noted that growth in overseas markets is directly responsible for maintaining and expanding jobs in the United States to support the business. Even for those companies that do not export directly or have an overseas presence, many are participating in global value chains by providing inputs to products that larger companies such as GE and P&G export.

The dialogue also pinpointed several areas where changes to U.S. public policy could help American companies and workers in the global economy. Participants emphasized the importance of gaining more favorable access to key markets overseas, improving respect for and protection of intellectual property rights in those markets, making sure the application of U.S. trade laws take into account the needs of American innovative industries, and creating a better overall climate for doing business through improved infrastructure, education, regulatory and tax systems. Business leaders also noted the importance of creating a more welcoming climate and removing barriers for visitors and immigrants to enter the United States.

Participants also coalesced around the idea of having government play some role in opening doors overseas and acting as a convener for businesses, entrepreneurs and educators to exchange information and improve innovation.

The workshop was part of a national series of discussions hosted by the NFTC Foundation at innovation and manufacturing centers around the nation thanks to a grant from the General Electric Foundation.


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 Urges Congress to Pass Tax Extenders Legislation

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Washington, D.C. – The National Foreign Trade Council (NFTC) today urged Congress to act as soon as possible on legislation to extend a number of pro-growth, pro-competitiveness tax provisions that expired at the end of 2011. The NFTC released the following statement:

“There is bipartisan support to extend these expired provisions including the ‘look-through’ rules for payments between related foreign corporations and the exception from subpart F for active financing income. Majority Leader Reid, Minority Leader McConnell and Senate Finance Committee Chairman Baucus engaged in a colloquy on the Senate floor on March 14, during which they discussed the importance of extending the expired tax provisions. On March 14, the Joint Committee on Taxation released an estimate of the revenue provisions included in the Obama Administration’s Fiscal Year 2013 Budget Proposal, which includes an extension of the expired provision.

“NFTC members believe that pro-growth tax law changes will go a long way to shore up business confidence and promote economic growth and job creation. We urge Congress to adopt a bill that can be enacted as soon as possible and signed into law by the President that includes the provisions that expired at the end of 2011, including the ‘look-through’ rules and subpart F active business financing income.

“We support extension of current law that allows ‘look-through’ treatment for payments of dividends, interest, rents and royalties between related controlled foreign corporations. Without this provision, which expired at the end of 2011, American companies would be subject to immediate U.S. taxation when they redeploy foreign earnings from active business operations in foreign markets. Foreign businesses competing in the same markets pay no such tax to their home countries. Without the extension of this rule, American companies would be at a competitive disadvantage in serving foreign customers and consumers.

“We also support extension of the provision that taxes active financial services income earned abroad by foreign subsidiaries of U.S. companies when the financing income is brought back to the United States. While this provision – also known as an exception from subpart F for active financing income – typically is associated with financial service firms, it also is important to U.S. manufacturers with finance and credit affiliates that provide financing for overseas buyers. The ability to provide competitive financing for customers has a direct and positive impact on U.S. exports and manufacturing jobs. Conversely, without an exception from subpart F, these financing arms, unlike their foreign counterparts, are subject to simultaneous foreign and U.S. taxes on their overseas earnings.”
 

 
 

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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