Category: Press Releases and Statements

NFTC Statement on New Canadian Fee for U.S. Streaming Companies

Posted on by Veronica Berkshire

WASHINGTON DC – National Foreign Trade Council (NFTC) Vice President for Global Trade Policy Tiffany Smith today issued a statement follow the announcement that the Canadian Radio-Television and Telecommunications Commission (CRTC) will impose a five percent levy on Canadian revenue from online streaming companies:

“Today’s action by Canada once again raises serious questions about their commitment to the fair treatment of companies headquartered in its closest trading partner and ally as well as its adherence to both the spirit and the letter of the U.S.-Mexico-Canada Agreement (USMCA).”

“This action by the CRTC will compel U.S. streaming services and social media platforms to pay an estimated $200 million per year to fund Canadian content on their platforms.

“This new fee will hurt U.S. creative professionals and related workers and ignores the already significant investments U.S. streaming companies have made in Canada as well as the benefits these global platforms provide.”

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About the NFTC
The National Foreign Trade Council (NFTC) is the premier business association advancing trade and tax policies that support access to the global marketplace. Founded in 1914, NFTC promotes an open, rules-based global economy on behalf of a diverse membership of U.S.-based businesses.

In Senate Testimony, NFTC’s John Pickel Emphasizes Government-Industry Collaboration Is Key to Resilient Supply Chains

Posted on by Veronica Berkshire

WASHINGTON DC – National Foreign Trade Council (NFTC) Senior Director for International Supply Chain Policy John Pickel today testified at a Senate Finance Subcommittee hearing on trade enforcement at U.S. ports of entry.

During the hearing, John stressed the importance of government-industry collaboration in facilitating the secure and efficient entry of legitimate goods into the American economy without adding overly burdensome processes that would make supply chains less resilient.

“Partnership between government and industry to develop policies and regulations that anticipate and respond to supply chain challenges would promote resilience and avoid requirements that could snarl supply chains. Industry should be seen as an ally that can partner with government agencies to ensure the facilitation of entry of legitimate goods to the U.S. economy as well as the enforcement of laws that prevent the entry of illicit and dangerous items.”

His written testimony outlined business community priorities around several key areas, including:

  1. Customs Processes at Ports of Entry;
  2. Importance of Data and Cargo Processing Digitization;
  3. Importance of Trade Facilitation and Adoption of Technology;
  4. Trusted Trader Programs;
  5. Facilitative Treatment for Low-Value Shipments;
  6. Digitization of Border Processes;
  7. Clear Compliance Standards; and
  8. Prioritize Addressing Risk at the Source.

Video of the hearing can be found here and the full testimony can be found here.

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About the NFTC
The National Foreign Trade Council (NFTC) is the premier business association advancing trade and tax policies that support access to the global marketplace. Founded in 1914, NFTC promotes an open, rules-based global economy on behalf of a diverse membership of U.S.-based businesses.

NFTC: Administration’s Long-Overdue Section 301 Report Misses the Mark with New Tariffs

Posted on by Veronica Berkshire

WASHINGTON DC – In response to the Biden Administration’s release of the statutorily-required Section 301 four-year review and the announcement of new tariffs imposed on goods from China, Tiffany Smith, Vice President of Global Trade Policy at the National Foreign Trade Council (NFTC), released the following statement:

“While we welcome the release of the long-overdue Section 301 four-year review and a new exclusion process to provide limited relief to American manufacturers, this announcement is a missed opportunity to move away from relying on tariffs as the tool of choice in our relationship with China.

“This announcement suggests that this Administration continues to believe that imposing unilateral tariffs on imports from China will be effective in swaying Beijing to abandon the array of policies that first led to this investigation and which remain a problem. If tariffs were going to solve these complex issues, they would have done so by now.

“The small improvements are overshadowed by the cost and effects of maintaining old and imposing new tariffs. According to the Administration’s own data, U.S. businesses and consumers have paid over $215 billion in Section 301 tariffs since 2018 with little to show for it, and will now be on the hook to pay even more. 

“Instead of continuing to rely on tariffs, which increase prices for all Americans at a time of record inflation, as a primary policy tool, the Administration should be seeking ways to work with our key trading partners to create real change in China and bring lasting benefits to American producers, exporters and consumers.”

Tiffany Smith is available for further comment on this issue. She can be reached at tsmith@nftc.org.

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About the NFTC
The National Foreign Trade Council (NFTC) is the premier business association advancing trade and tax policies that support access to the global marketplace. Founded in 1914, NFTC promotes an open, rules-based global economy on behalf of a diverse membership of U.S.-based businesses.

At NFTC Foundation Annual Dinner, Congressional Champions, Biden Administration Emphasize Importance of U.S. Global Economic Leadership

Posted on by Veronica Berkshire
WASHINGTON DC – Last week the National Foreign Trade Council (NFTC) Foundation hosted its annual World Trade Dinner and Awards Ceremony in Washington, DC. This year’s dinner honored Representatives Brad Schneider, Kevin Hern, Carol Miller and Adrian Smith and featured remarks from Arun Venkataraman, Assistant Secretary of Commerce for Global Markets, and Director General of the U.S. and Foreign Commercial Service.
The first honorees of the night, Representatives Kevin Hern and Brad Schneider, were recognized with the International Tax Award for reaching across the aisle and working together on a Foreign Tax Credit rule that would have had enormous impacts on American companies.
Congresswoman Carol Miller was recognized with the World Trade Award for her commitment to encouraging U.S. trade leadership, including through the recent introduction of the U.S. Trade Leadership in the Indo-Pacific Act (USTLIPA).
Congressman Adrian Smith, this year’s Trade Leadership for the Digital Age Award honoree, was recognized for his advocacy of strong digital trade provisions, including his support for a resolution outlining the importance of the U.S. digital economy and his longstanding emphasis on the role of digital technologies in supporting agriculture communities.
Arun Venkataraman, Assistant Secretary of Commerce for Global Markets, and Director General of the U.S. and Foreign Commercial Service, closed out the dinner with remarks emphasizing that, “in the face of so much criticism leveled at trade…trade is a force for good.”
The dinner also included remarks from Jake Colvin, President of the NFTC, Leslie Griffin, President of the NFTC Foundation and Susan Schwab, Chair of the NFTC Board of Directors.
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About the NFTC
The National Foreign Trade Council (NFTC) is the premier business association advancing trade and tax policies that support access to the global marketplace. Founded in 1914, NFTC promotes an open, rules-based global economy on behalf of a diverse membership of U.S.-based businesses.

NFTC Applauds Introduction of the U.S. Trade Leadership in the Indo-Pacific Act

Posted on by Veronica Berkshire

WASHINGTON DC – In response to the introduction in the House of Representatives today of the “U.S. Trade Leadership in the Indo-Pacific Act,” National Foreign Trade Council (NFTC) Vice President for Global Trade Policy Tiffany Smith released the following statement:

“NFTC applauds the introduction today of the U.S. Trade Leadership in the Indo-Pacific Act and congratulates its bipartisan cosponsors.

“This legislation reflects strong, bipartisan support for consistent, durable and aggressive U.S. leadership that builds confidence with our allies in the region. Congress has an important role to play in signaling that the United States is committed for the long-term and will work to promote our economic security by deepening economic integration across the Indo-Pacific, creating new commercial opportunities for our companies, farmers, and workers.

“We hope the actions proposed by this legislation will help to inform policymakers about the risks to U.S. security and economic interests of inaction – or insufficient action – and spark more aggressive leadership that can deliver meaningful results for American businesses and workers.”

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About the NFTC
The National Foreign Trade Council (NFTC) is the premier business association advancing trade and tax policies that support access to the global marketplace. Founded in 1914, NFTC promotes an open, rules-based global economy on behalf of a diverse membership of U.S.-based businesses.

NFTC: NTE Report Gives “Free Pass” to Foreign Governments to Discriminate

Posted on by Jake Colvin

WASHINGTON DC – In response to the release of the 2024 National Trade Estimate on Foreign Trade Barriers by the Office of the United States Trade Representative, National Foreign Trade Council (NFTC) President Jake Colvin released the following statement:

“USTR pulled its punches this year, undermining decades of bipartisan efforts to call out the full scope of trade barriers through its annual NTE report and giving a free pass to efforts by foreign governments to discriminate against American companies under a thin veneer of regulating in the public interest.

“Specifically, in failing to call out significant barriers to American e-commerce and digitally-enabled exports, the Biden Administration is wasting an opportunity to stand up for U.S. innovation and inviting discrimination against American companies and workers by our economic competitors.

“By refusing to catalog local content requirements and other key foreign trade barriers, USTR is also willfully ignoring its congressional mandate to identify ‘significant barriers’ to U.S. exports of goods and services, foreign investment and electronic commerce.

“The NTE report is the latest example of deeply misguided efforts by this USTR to erode the standards that have governed decades of aggressive U.S. Government advocacy on behalf of American businesses and workers. America’s global economic competitors cannot be allowed to stand up blatantly discriminatory policies that disadvantage U.S. companies under the pretense of legitimate regulation.

“Ultimately, this shortsighted pullback from our global trade advocacy will threaten American jobs and the U.S. tax base, as foreign competitors and adversaries from the EU to China feel increasingly emboldened to discriminate against a wide range of American interests under the guise of digital regulation, public health or the environment.”

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About the NFTC

The National Foreign Trade Council (NFTC) is the premier business association advancing trade and tax policies that support access to the global marketplace. Founded in 1914, NFTC promotes an open, rules-based global economy on behalf of a diverse membership of U.S.-based businesses.

NFTC Welcomes Addition of Turkey to Treasury Agreement on DSTs

Posted on by Veronica Berkshire

WASHINGTON DC – National Foreign Trade Council (NFTC) Vice President for International Tax Policy Anne Gordon today issued the following statement in response to the U.S.-Turkey Joint Statement on a unilateral measures compromise:.

“We welcome the Treasury Department announcement that Turkey has joined Austria, France, Italy, Spain and the UK in agreeing to extend the standstill on Digital Services Taxes (DSTs).

“The success of the OECD process on digital taxation depends on the commitment of countries party to the process to hold off on any measures that might harm a global agreement. We urge other parties to this process to make similar commitments as the deadline for an agreement on Pillar One approaches.”

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About the NFTC
The National Foreign Trade Council (NFTC) is the premier business association advancing trade and tax policies that support access to the global marketplace. Founded in 1914, NFTC promotes an open, rules-based global economy on behalf of a diverse membership of U.S.-based businesses.

American Competitiveness Will Suffer from Tax Provisions in Budget

Posted on by Veronica Berkshire

WASHINGTON DC – The National Foreign Trade Council (NFTC) Vice President for International Tax Policy Anne Gordon today issued the following statement in response to the President’s budget proposal for FY 2025 and accompanying Treasury Green Book:

“The President’s budget reflects the same short-sighted corporate tax proposals he presented at the State of the Union last week and in last year’s Green Book. These proposals continue to ignore the realities of how global businesses operate and would make it harder for American companies to create jobs and to compete abroad.

“We are concerned that this budget does not include any measures to remedy Congressional and business community concerns with the OECD global tax negotiation. Instead the Administration puts forth proposals that hurt American competitiveness and undermine our companies’ ability to keep jobs in the U.S., at the same time increasing the corporate tax rate to 28% accompanied by an increase in the corporate alternative minimum tax (CAMT) to 21% – a rate far above what the Administration negotiated as part of the global minimum tax agreement.

“We urge the Administration to consider instead policies that foster innovation, job creation and continued growth.”

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About the NFTC
The National Foreign Trade Council (NFTC) is the premier business association advancing trade and tax policies that support access to the global marketplace. Founded in 1914, NFTC promotes an open, rules-based global economy on behalf of a diverse membership of U.S.-based businesses.

NFTC Reactions to President Biden’s State of the Union Address

Posted on by Veronica Berkshire

Washington D.C. – The National Foreign Trade Council (NFTC) today issued the following reactions to the President’s State of the Union address:

NFTC President Jake Colvin:

“While President Biden rightfully focused on the critical importance of America’s security alliances, he missed an opportunity to elevate the role of America’s commercial relationships and U.S. global economic leadership. Strengthening America’s trade and investment relationships with our allies is key to enhancing our national security and competitiveness.

“President Franklin Roosevelt once cautioned Congress that ‘blind economic selfishness in most countries, including our own, resulted in a destructive mine-field of trade restrictions which blocked the channels of commerce among nations.’ Instead of promising Congress that the United States would ‘use its influence to open up the trade channels of the world,’ as FDR once did, President Biden used this stage to promote import substitution and higher corporate taxes.”

Anne Gordon, NFTC Vice President for International Tax Policy:

“The President’s proposal to increase the Corporate Alternative Minimum Tax to 21% will harm the U.S. economy and the competitiveness of all U.S. businesses. The Biden Administration led the charge on a global negotiation to move countries toward a ‘fairer’ 15% minimum tax. If they turn their back and seek a much higher rate at home, U.S. companies will be at a comparative disadvantage that will make it impossible to compete in the global economy.

“As 2025 approaches and several Tax Cuts and Jobs Acts provisions expire, we should be looking at renewing or extending pro-growth tax policies that drive innovation and investment in the U.S. and drive American economic success.”

Jeannette Chu, NFTC Vice President for National Security Policy:

“The President has identified the need for additional foreign aid for Ukraine and Israel, underscoring the importance of preserving regional alliances and the current world order.

“While meeting the geopolitical risks and challenges brought about by strategic competition with China and continuing to thwart Russia’s illicit procurement of militarily critical dual-use goods are essential national security objectives, we must not let these goals undermine America’s competitiveness, without which national security is inescapably compromised.”

Tiffany Smith, NFTC Vice President for Global Trade Policy:

“It is disappointing that the President’s economic agenda left out any mention of trade policies that would create new opportunities for American businesses, farmers, ranchers, and workers to reap the benefits of reaching customers outside of the United States and working with like-minded allies to strengthen the global trading system.”

“The Biden Administration continues to embrace import substitution policies that the U.S. has long pressed our trade partners to avoid. Moving forward, it is important that the Administration implement these programs in a way that upholds our commitments to our trading partners through the World Trade Organization and our regional and bilateral trade agreements. Otherwise we risk retaliation against our exports and will lose opportunities for our companies to compete for similar opportunities in foreign markets.”

John Pickel, NFTC Senior Director for International Supply Chain Policy:

“The U.S. economy relies on vibrant and resilient global supply chains. For American companies – both big and small – to thrive, we must have clear, feasible policies that improve the ability of supply chains to serve consumers, industry, well-defined government objectives, and other actors that power the global economy.”

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About the NFTC
The National Foreign Trade Council (NFTC) is the premier business association advancing trade and tax policies that support access to the global marketplace. Founded in 1914, NFTC promotes an open, rules-based global economy on behalf of a diverse membership of U.S.-based businesses.