Category: Press Releases and Statements

NFTC Welcomes Major Step Forward in Russia’s WTO Accession

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Urges Congress to Exempt Russia from Jackson-Vanik
Washington DC – The National Foreign Trade Council (NFTC) today applauded U.S. negotiators for working with other World Trade Organization (WTO) member nations to successfully develop an accession package for Russia’s entry into the multilateral trade organization. The NFTC released the following statement:

“We congratulate Assistant U.S. Trade Representative (USTR) Chris Wilson and the entire USTR negotiating team for working together with other members of the WTO Working Party for Russia’s accession to achieve today’s outcome,” said NFTC President Bill Reinsch. “We applaud their commitment to and success in negotiating a high-quality package outlining the terms of Russia’s accession to the WTO.”

The accession package approved today includes the Russia-Georgia agreement, an enforceable commitment for Russia to join the Information Technology Agreement (ITA) upon its accession and a commitment to enforceable treatment of intellectual property rights under the WTO’s Trade-Related Aspects of Intellectual Property Rights (TRIPS) Agreement. The package also includes U.S.-negotiated access for high quality beef, a commitment to bring Russian auto assembly into compliance by July 1, 2018, and an extensive commitment on sanitary and phytosanitary (SPS) measures, among other provisions.

“The package serves as a rules-based framework modeled after the bilateral U.S.-Russia WTO bilateral market access agreement,” said NFTC Vice President Dan O’Flaherty. “We urge Congress to exempt Russia from the Jackson-Vanik amendment as soon as possible to ensure that U.S. exporters can compete on equal footing with Asian and European companies, agricultural producers and service providers in this increasingly competitive market.”
 

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, U.S. Business Community Leaders Roll Out Effort to Modernize Global Trade Rules on Cross-border Data Flows

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Washington DC – The National Foreign Trade Council (NFTC) today released a set of U.S. business community policy priorities for modernizing the international trade rules and practices governing cross-border flows of data and information technologies in conjunction with other leading trade associations and some of the nation’s most innovative companies.

“Trade rules were written to ship widgets rather than bytes,” said NFTC Vice President Jake Colvin. “The Internet and networked technologies have created new ways of delivering products and services and entire new industries that spur economic growth and create jobs, but which also pose new challenges for the trading system.”

Individuals and businesses would benefit from a more consistent and transparent framework for the treatment of cross-border flows of goods, services and information. As the principles note, “Access to computers, servers, routers and mobile devices, services such as cloud computing…and information is vital to the success of billions of individuals, businesses and entire economies. In the United States alone, the goods, services and content flowing through the Internet have been responsible for 15 percent of GDP growth over the past five years.”

“Secure and reliable access to the Internet and technologies is essential to creating jobs and economic growth in the 21st Century economy,” said Colvin. “It’s not just IT companies who rely on cross-border data flows in the digital age. Manufacturers, accountants, universities, labs, NGOs – you name it – depend on digital goods and services. In order to create jobs and permit the digital economy to function and grow, countries need to make sure global trade rules governing information flows are up to date.”

The policy priorities were developed by a core group of associations and companies through a process convened under the National Foreign Trade Council. A variety of America’s leading companies including Citi, Google, IBM, Mastercard, Microsoft and Visa joined NFTC and other associations including the Business Software Alliance, Coalition of Services Industries, Software & Information Industry Association and U.S. Council for International Business to craft the document.

They write:

“Economies that are open to international trade in information and communication technologies and information grow faster and are more productive than countries which close their borders to them…Studies show that networked technologies –hardware and software linked together via the Internet – contribute significantly more to economic growth than technology products that are not connected. Limiting network access dramatically undermines the economic benefits of technology and can slow growth across entire economies…

“Despite the widespread benefits of cross-border data flows to innovation and economic growth, and due in large part to gaps in global rules and inadequate enforcement of existing commitments, digital protectionism is a growing threat around the world. A number of countries have already enacted or are pursuing restrictive policies governing the provision of digital commercial and financial services, technology products, or the treatment of information to favor domestic interests over international competition….

“…The U.S. Government should seek international commitments on several key objectives, including: prohibiting measures that restrict legitimate cross-border data flows or link commercial benefit to local investment; addressing emerging issues involving the regulation of the digital economy; promoting industry-driven international standards, dialogues and best practices; and expanding trade in digital goods, services and infrastructure.”

To read the full text of the policy priorities, click here.


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 Camp’s Proposal a ‘Thoughtful Start’ and Step Forward on Tax Reform

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Says Key Provisions Will Ensure Global Competitiveness of Worldwide American Companies, U.S. Economic Growth and Job Creation
Washington, DC – The National Foreign Trade Council (NFTC) today welcomed House Ways and Means Committee Chairman David Camp’s release of his proposal for tax reform. The NFTC applauded Rep. Camp’s proposed reduction of the corporate tax rate and moving to a territorial tax system, among other provisions aimed at ensuring the global competitiveness of worldwide American companies.

“We are very pleased to see that Chairman Camp understands the difficulty that companies face in global competition. The U.S. tax system has been the outlier in the world economy for far too long,” said NFTC Vice President for Tax Policy Cathy Schultz. “Moving to a territorial tax system and reducing the corporate tax rate will allow companies to grow in the United States, and will also attract more in-bound investment, leading to more job growth. Although this is only the first step in a serious tax reform discussion, it is a thoughtful start to that discussion, and we applaud Chairman Camp for his initiative.”

The NFTC has long advocated reforming U.S. international and corporate tax policies, and is a leading member of the business community’s Promote America’s Competitive Edge (PACE) Coalition.
 

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 Applauds Signing of FTAs, TAA/GSP Legislation

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Calls for Swift Implementation

Washington DC – The National Foreign Trade Council (NFTC) today released the following statement welcoming the President’s signing of the implementing legislation for the U.S. free trade agreements (FTAs) with Colombia, Panama and South Korea, as well as legislation to extend the Trade Adjustment Assistance (TAA) program and the Generalized System of Preferences (GSP).

“The NFTC and our member companies applaud the signing of the FTAs and TAA/GSP legislation. All four trade bills are essential to growing the U.S. economy, American jobs and the competitiveness of our exporters, be they farmers, small- and medium-sized businesses or large American companies with worldwide operations.

“We applaud the Administration and Congress for working together over the past several months — and if we go back to the signing of the FTAs, years — to make today a reality.

“The benefits of the FTAs can only begin to flow when each enters into force, and so we call on key players in both the U.S. government and the governments of our FTA partner nations to work together to ensure swift implementation.”

 

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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 Welcomes Issuance of First U.S. Permit Under U.S.-Mexico Cross-Border Trucking Program

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Washington DC – The National Foreign Trade Council (NFTC) today welcomed news that the U.S. Department of Transportation’s Federal Motor Carrier Safety Administration (FMCSA) issued its first permit under the U.S.-Cross Border Trucking Program. According to the Mexican Government, three U.S. trucking companies have also been granted permits in recent months. The NFTC released the following statement.

“This news is important for two equally significant reasons. FMCSA’s issuance of the first permit under the program signals that after reaching a resolution on the cross-border trucking issue in March, the U.S. and Mexican governments are committed to making the program work, to the benefit of trucking companies and exporters in both countries.

“As this step forward continues the process of U.S. compliance with its international obligations under NAFTA, it gives the Mexican Government the assurance it needs to lift remaining retaliatory tariffs facing U.S. exporters in a wide range of industries – allowing them to regain their competitive edge and sustain and create U.S. jobs supported by bilateral trade.”

 

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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 Welcomes Advancement of U.S. Trade Agenda

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Applauds Approval of FTAs and Renewal of TAA and Key Preference Programs, Looks Ahead to New Market-Opening Initiatives

Washington DC – The National Foreign Trade Council (NFTC) today applauded Congress and the Administration for working together to approve the free trade agreements (FTAs) with Colombia, Panama and South Korea, and to renew Trade Adjustment Assistance (TAA), the Generalized System of Preferences (GSP) and the Andean Trade Preference Act (ATPA). The NFTC released the following statement.

“We are very pleased with the outcome of today’s votes, and applaud Congress and the Administration for working together to advance the U.S. trade agenda through approval of the FTAs with Colombia, Panama and South Korea, as well as the renewal of TAA, GSP and the Andean trade preferences. These agreements and programs will boost the U.S. economy and create and support thousands of American jobs,” said NFTC President Bill Reinsch. “We urge Congress and the Administration to work together with the Colombian, Panamanian and South Korean governments to ensure that each agreement is implemented as soon as possible.”

“Today’s votes — which should indeed be celebrated after the more than four-year journey from the signing of the FTAs to approval — are just the first step toward ensuring that U.S. companies, farmers and workers have an opportunity to regain lost market share, increase their competitiveness and strengthen longstanding commercial ties with each FTA partner. Swift implementation is critical to realizing the benefits of each agreement. Nations around the world will not let up in efforts to seal and implement deals with these three trade partners, and the United States cannot afford to either,” said NFTC Vice President for Regional Trade Initiatives Chuck Dittrich.

“It is also our hope that today’s outcome is just the beginning of an effort to further open markets for U.S. goods and services. With the FTAs approved, we now must keep the momentum going with an eye toward advancing the Trans-Pacific Partnership negotiations and the Trade and Investment Partnership Initiative for the Middle East and North Africa, and developing a strategy to get meaningful world trade talks back on track,” said Reinsch.

 

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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Leading Business Associations Say “Buy American” Provisions in the American Jobs Act Put Job Creation, U.S. Economy in Jeopardy

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Washington, DC – The National Foreign Trade Council (NFTC) and 22 other leading business associations today sent a letter to House and Senate leaders, calling on them to oppose the “Buy American” provisions in the American Jobs Act.

The associations wrote:

“As companies and associations accounting for millions of employees across the U.S. economy, we strongly share your objective to promote economic recovery and job growth in the United States. To achieve that recovery and job growth, however, we strongly urge against the imposition of onerous new Buy American provisions in the American Jobs Act that are counterproductive to your and our nation’s job-growth goals.

“…The massive expansion of Buy American requirements proposed in the American Jobs Act is, however, out of step with a balanced U.S. procurement policy and will undermine the United States’ ability to grow our exports and our jobs through accessing foreign markets… There are numerous examples of these damaging ‘backfires’ on U.S. exporters and their workers. The inclusion of the same Buy American provisions in the American Recovery and Reinvestment Act (ARRA) in 2009 led countries in Europe, Asia, Latin America and elsewhere to impose additional restrictions on the purchase of U.S. goods and services.

“…At this critical juncture, the United States must lead the world out of protectionism, not into it. The proposed expansions of already robust Buy American laws send the wrong message at the worst possible time to our trading partners around the world and to markets nervous about rising trade barriers.”

 

NFTC Vice President for Regional Trade Issues Chuck Dittrich said, “While the American Jobs Act is intended to address an urgent and critical issue, the ‘Buy American’ provisions included in it are counterproductive and shortsighted. Some may view the provisions as a possible shot in the arm for the U.S. economy. However, the reality is that in the near and long term, they will jeopardize our trade partnerships around the globe, likely lead to retaliatory actions by other nations, raise costs for American consumers and slow down job creation – counter to what the Act itself is intended to do – create jobs and boost the U.S. economy.”

To read the full text of the letter, click here.

 


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 House Ways and Means Markup

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Washington, DC – The National Foreign Trade Council (NFTC) today commended the House Committee on Ways and Means for quickly advancing the implementing legislation for the free trade agreements (FTAs) with Colombia, Korea and Panama, and urged Congress to ratify the agreements without delay. NFTC released the following statement:

“We welcome the House Ways and Means Committee’s favorable reporting out of implementing legislation for the pending free trade agreements with Colombia, Korea and Panama. All three agreements will help to give our economy a needed boost, both in terms of job creation and increased exports.

“We also applaud Chairman Camp for scheduling today’s markup so soon after the President’s submission of the trade agreements on Monday. We look forward to a House floor vote and action in the Senate as soon as possible.”

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 Applauds Administration for Submitting FTAs, Urges Congress to Approve ASAP

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Washington, DC – The National Foreign Trade Council (NFTC) today applauded the Obama Administration for submitting implementing legislation for the free trade agreements (FTAs) with Colombia, Korea and Panama, and urged Congress to ratify the agreements without delay. NFTC President Bill Reinsch and Vice President for Regional Trade Issues Chuck Dittrich released the following statement:

“With all three agreements inked more than four years ago, we welcome the Administration’s submission of the trade agreements to Congress for approval,” said NFTC President Bill Reinsch. “These agreements are critical to boosting the U.S. economy, creating and supporting jobs, and the President’s submission today signals the Administration’s commitment to seeing them all approved. The NFTC urges Congress to approve these agreements as soon as possible in the next couple of weeks as means to stimulate the U.S. economy, increase exports and create more American jobs.”

“With other countries, like Canada, the European Union and others, entering into trade agreements with these countries, the United States is losing critical market share. It’s time to turn that situation around,” said NFTC Vice President for Regional Trade Issues Chuck Dittrich. “Today’s announcement brings us one step closer to ensuring that the U.S. remains competitive and maintains market share in these growing, dynamic economies.”

“Great progress has been made on the U.S. trade agenda in recent weeks. We encourage Congress to keep up the momentum and pass the FTAs and renew the Trade Adjustment Assistance program, the Generalized System of Preferences and the Andean trade preferences without further delay,” Reinsch concluded.

 


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 Forum Brings Together Business and Government Leaders in Dialogue on how Ohio, Kentucky Companies Can Tap into Global Markets

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Senator Brown, Department of Commerce manufacturing official join business leaders
and educators to discuss the importance of international markets for U.S. jobs and innovation

Cincinnati, OH – The National Foreign Trade Council (NFTC) Foundation hosted a forum on September 30 in Cincinnati on the growing impact of international trade, foreign investment and innovation on the U.S. economy. The event, held at Cincinnati-based process and production improvement consultancy TechSolve, brought together a wide range of innovation stakeholders – from representatives of small- and medium-sized enterprises and multinational corporations, to local and national government officials – and focused on the link between global markets and export growth and job creation in Ohio and Kentucky.

“International customers, entrepreneurs, investors and researchers are increasingly important to the success of businesses and workers in the United States,” said NFTC Vice President for Global Trade Issues Jake Colvin. “By bringing together public and private sector leaders, this event provided an opportunity to advance a discussion about the ways companies in Ohio and Kentucky can create and support American jobs through interacting with the global economy and how Washington can help even the smallest businesses leverage those resources.”

The discussion included a luncheon on, “Global Demand for U.S. Innovation: How the United States Can Encourage Job Growth and Remain the World’s Innovation Leader,” featuring keynote remarks by Senator Sherrod Brown (D-OH) and Peter Perez, Deputy U.S. Assistant Secretary of Commerce for Manufacturing.

“Our state’s entrepreneurs and workers, world-class universities and research institutes have solidified Ohio’s legacy of innovation. Ohio leads our nation in industries like aerospace, agriculture, biosciences, clean energy and manufacturing. And that’s why Ohio can emerge from the recession better positioned than in the past,” Senator Brown said. “As a member of the President’s Export Council, I’m working to ensure Ohio’s small businesses are connective to resources to expand into new markets. We can boost our economy and rebalance our trade deficit by tackling currency, enforcing existing trade laws, and tapping resources like the Export-Import Bank, and the Small Business Administration to boost exports.”

A variety of senior corporate representatives, experts, educators and public policy leaders from Ohio, Kentucky, and Washington, DC participated in the dialogue, including: Gregory Kenny, President & CEO of General Cable; Dale Carleson, Executive for Advanced Engine Systems for GE Aviation; Terry Segerberg, CEO of Mesa Industries; Robert Koopman, Chief Economist, U.S. International Trade Commission; TechSolve President & CEO Gary Conley; NFTC President Bill Reinsch; and David Thomas, Director, Business Roundtable. At a private dinner the evening before the conference, University of Cincinnati President Gregory Williams and former Ohio Governor Bob Taft joined participants to discuss how educators are helping to equip students with an international mindset and compete in the 21st century global economy.

Business leaders honed in on several areas related to the scope of international trade and investment in the U.S. economy, whether current measures of trade are sufficient to reflect increasingly complex global supply chains, and how public policies can grow jobs and help the United States remain the world’s innovation leader.

The workshop was held in partnership with the Cincinnati USA Regional Chamber, Dayton Development Coalition, European-American Chamber of Commerce and TechSolve. Over the past several years, the NFTC Foundation has hosted a series of innovation forums around the country, from Research Triangle Park Headquarters in North Carolina to GE’s advanced manufacturing research facility outside Detroit to the Googleplex in California. These discussions are made possible in part thanks to a grant from the General Electric Foundation and are meant to elicit advice and input from senior business and community leaders to help guide public policies on international trade and investment.

About NFTC and the Global Innovation Forum
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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The Global Innovation Forum is a project of NFTC’s educational arm, the NFTC Foundation. NFTC established the Global Innovation Forum to create a greater understanding of how the innovation ecosystem and public policy can improve the lives of workers, families and communities around the world. Through educational events and workshops, the Global Innovation Forum brings together diverse groups of innovation stakeholders to bridge differences, build consensus and create solutions. Its aim is to arrive at public policy solutions that support entrepreneurism, investment, development, trade, transfer and deployment of innovation and enable solutions to common challenges.