Press Releases and Statements Archives - Page 62 of 107

NFTC Says President’s Budget Proposals Amount to a Tax Hike for Worldwide U.S. Companies

Posted on February 14, 2011 by dcadmin

Washington DC – The National Foreign Trade Council (NFTC) today said that President Obama’s international tax-related budget proposals are more of the same, and amount to a tax hike for worldwide American companies. NFTC Vice President for Tax Policy Cathy Schultz released the following statement.

“We were encouraged when the President in his State of the Union address highlighted that worldwide American companies face some of the highest tax burdens in the world. We thought that maybe his exclusion of ‘companies shipping jobs overseas’ symbolized an ideological shift toward more business-friendly international tax policies, but his budget proposal released today is just more of the same.

“The FY 2012 budget proposal includes many of the same flawed policies included in last year’s budget that were never enacted into law, and for good reason. From deferring the deduction of interest expenses related to deferred income to treating carried interests as ordinary income, the Administration’s budget proposal, while rhetorically intended to encourage companies to invest more in America, will make it even harder for them to do so.

“As we’ve stated before, while some economic indicators suggest that the U.S. economy is beginning to turn the corner, the reality is that our recovery is fragile. Given that reality, we should be pursuing policies that encourage growth and job creation, not enact what amount to tax hikes on the very same worldwide U.S. companies that are responsible for providing more than 63 million American jobs.”

About 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 Expresses Disappointment Over Congress Allowing Critical Trade Preference and Assistance Programs to Expire

Posted on February 12, 2011 by dcadmin

Washington, DC – The National Foreign Trade Council (NFTC) today expressed disappointment with Members of Congress for failing to extend funding for the Andean Trade Preference Act (ATPA) and Trade Adjustment Assistance (TAA) before both programs are set to expire today. The NFTC urged Members to put politics aside and approve legislation to extend both programs immediately, and take action to restore funding for the Generalized System of Preferences (GSP), which has lapsed since December 31, 2010. The NFTC released the following statement.

“We are deeply disappointed that Congress has failed to take action to extend funding for these programs. Since ATPA and TAA were extended for six weeks in late December, Members have had opportunities to come together, put narrow political interests aside, and do what is best for the hundreds of thousands of American workers and exporters in Andean countries who benefit from these programs,” said NFTC President Bill Reinsch. “It is unfortunate that instead of rising above partisan disagreements, Congress has let both of these programs expire. Thoughtful leadership should have prevailed by now, and we urge Members to work together as soon as possible in the next day or two to reach consensus and approve legislation extending funding.”

“We are in absolute agreement that all three pending free trade agreements are crucial to increasing U.S. economic growth and exports, and supporting American jobs, and we believe that all should be presented to Congress for approval as soon as possible this year. However, we do not agree that ATPA, TAA and GSP and the benefits that flow from these programs should hang in the balance merely to prove a political point,” said Reinsch.

“We applaud Members of Congress who stand up in principle to promote economic growth through trade, but it is counterintuitive to let these trade assistance and preference programs expire when they are part of the solution, not the problem,” said NFTC Vice President for Global Trade Issues Chuck Dittrich. “More than 360,000 American workers who have been adversely impacted by trade have been certified to receive training, health and other TAA benefits since May 2009, and some 5,000 U.S. agricultural producers are receiving assistance as well.”

“Similarly, ATPA helps afford market access to our trading partners in Andean nations, including Colombia, which has recently been ravaged by relentless floods that have literally left crops and the economic vitality of key industries under water,” said Dittrich. “Failing to extend preferences not only impacts industries and workers in Colombia and other Andean nations, but also the hundreds of thousands of American workers whose jobs depend on trade.”

“The expiration of the GSP program, which has lapsed for nearly a month and a half, is already having a negative economic impact by increasing the cost of inputs for American manufacturers. At a time when we are trying to find ways to boost the U.S. economy, failing to act in our economic interest has very real costs – costs that we cannot afford,” said Dittrich.

“The NFTC and its members stand in support of those Members of Congress who continue to work for a bipartisan solution to immediately extend these important programs and call on all Members to join them,” Reinsch concluded.

On Tuesday, February 8, NFTC sent a letter to all Members of Congress, underscoring the importance of extending funding for ATPA and TAA. To read the letter, please click here.

NFTC President Calls Ways and Means Hearing an Important Step Toward Advancing the U.S. Trade Agenda

Posted on February 9, 2011 by dcadmin

Washington, DC – The National Foreign Trade Council (NFTC) today applauded the House Ways and Means Committee for holding a hearing on President Obama’s Trade Policy Agenda, which featured testimony from U.S. Trade Ambassador Ron Kirk. While the hearing addressed a full range of issues, including Trans-Pacific Partnership (TPP) and Doha Round negotiations, emphasis was specifically placed on the pending free trade agreements (FTAs) with Colombia, Panama and South Korea.

“We applaud Chairman Camp for his leadership, and view today’s hearing as a positive step forward in advancing the U.S. trade agenda. We are encouraged by Ambassador Kirk’s comments regarding the Administration’s intention to submit to the Korea agreement to Congress in the coming weeks and win approval this spring,” said NFTC President Bill Reinsch. “Maintaining an aggressive timeline to secure ratification of the KORUS FTA is critical to ensuring that we realize the economic benefits of the agreement as soon as possible and gain competitive advantage in this fast-growing market.”

“We are pleased to hear that President Obama has instructed Ambassador Kirk to intensify outreach to the Colombian and Panamanian governments to move those agreements forward,” said NFTC President Bill Reinsch. “Both agreements have significant support in Congress and the business community, and have been on the backburner for far too long. We hope that Ambassador Kirk’s remarks signal that the Administration is now prepared to make meaningful progress without further delay, and do what it takes to ready these agreements for Congressional approval as soon as possible this year.”

“The three pending agreements, coupled with increased economic engagement in the Asia-Pacific region through the TPP negotiations, are essential to helping our economy grow, creating jobs and further strengthening diplomatic relations with new and emerging economic powers around the world,” said NFTC Vice President for Regional Trade Issues Chuck Dittrich. “We urge Congress and the Administration to continue engaging in open dialogue and work together constructively to take the necessary steps to secure approval of all three trade agreements this year.”

About NFTC
Advancing Global Commerce for 95 Years – The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules-based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves hundreds of member companies through its offices in Washington and New York. Follow us on:

NFTC Welcomes Senate Foreign Relations Committee Report on Consequences of Failing to Ratify Colombia and Panama FTAs

Posted on February 8, 2011 by dcadmin

Washington DC – The National Foreign Trade Council (NFTC) today welcomed the release of a Senate Foreign Relations Committee report, titled Losing Jobs and Alienating Friends: The Consequences of Falling Behind on Free Trade With Colombia and Panama. The report, which was submitted to committee members by Ranking Member Richard Lugar, examines the potential consequences for the United States if it fails to pass free trade agreements with Colombia and Panama. The report specifically argues that three key U.S. policy priorities will be negatively affected by failure to pass the FTAs: 1) Job creation; 2) Gains achieved through Plan Colombia on issues of human rights and labor in Colombia; and 3) U.S. credibility and influence in Latin America.

“We applaud Senator Lugar for his leadership in pointing out what is at stake if the Administration and Congress fail to make approval of both of these agreements a priority. The report signals that there is support in Congress for moving these agreements forward and points out the implications of not doing so,” said NFTC President Bill Reinsch. “Advancing these FTAs is something that the President has indicated that he would like to do, most recently in his State of the Union address and in remarks yesterday to business leaders at the U.S. Chamber of Commerce. We believe he is committed to pursuing approval of the Colombia and Panama agreements, but urge the Administration to take action with a sense of urgency.”

“If we continue to kick the can down the road, we stand to continue losing market share in both Colombia and Panama, to the detriment of key U.S. industries – from agriculture to equipment manufacturing,” said NFTC Vice President for Regional Trade Issues Chuck Dittrich. “Saving and creating American jobs and increasing U.S. economic growth are not the only things at stake if the Administration and Congress continue to delay ratification of both agreements, so is the United States’ influence in Latin America. Approval of these FTAs will create goodwill and demonstrate that the U.S. is serious about being a committed economic and diplomatic partner in the Western Hemisphere.”

“We encourage the Administration to continue doing what it takes to build support in Congress for both FTAs, and work to address any outstanding concerns with the Colombian and Panamanian governments so the agreements can be submitted and passed as soon as possible,” Reinsch concluded.

To read the Senate Foreign Relations Committee report, please click here.

About NFTC
Advancing Global Commerce for Over 95 Years – 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 Take Immediate Action to Extend Critical Trade Preference Programs Facing Expiration on February 12th

Posted on February 8, 2011 by dcadmin

Washington, DC – The National Foreign Trade Council (NFTC) today urged Congress to pass legislation extending funding for the Trade Adjustment Assistance (TAA) program and the Andean Trade Preference Act (ATPA) before the current expiration date of February 12, 2011. In a letter to all Members of the U.S. House of Representatives, NFTC President Bill Reinsch wrote:

“In early 2009, Republicans and Democrats in both the House and the Senate found common ground to come together to authorize TAA through 2010 and redesign benefits to be more flexible and accessible. Since the new TAA program went into effect on May 18, 2009, over 360,000 workers affected by more than 3,500 layoffs have been certified to receive TAA benefits….

“ATPA has enjoyed bipartisan support since 1992 and currently benefits hundreds of thousands of workers in the U.S. and the Andean countries which it serves, particularly in Colombia. It lowers the cost of needed inputs into U.S. manufacturing, and as a centerpiece of U.S. anti-narcotics policy in the region, provides needed jobs in the legitimate economy as an alternative to illegal production of narcotics. In the next four months alone, access under ATPA to the U.S. market for Colombian cut flowers for Valentine Day and Mother’s Day can make the difference between destabilizing hunger and unemployment and Colombia’s economic recovery from the recent devastating floods.”

To read the NFTC letter, please click here.

NFTC Welcomes Secretary Clinton’s Remarks on Submitting Colombia FTA to Congress This Year

Posted on January 28, 2011 by dcadmin

Washington DC – The National Foreign Trade Council (NFTC) today welcomed remarks made by Secretary of State Hillary Clinton regarding the U.S.-Colombia Free Trade Agreement (FTA). During a joint press conference with Colombian Vice President Angelino Garzón today, Secretary Clinton announced the Administration’s intention to send the agreement to Congress this year once negotiations have concluded and both governments have agreed upon text clarifying and addressing outstanding concerns.

“Secretary Clinton’s remarks represent the clearest signal the Administration has sent with respect to its intentions to move the Colombia agreement forward in a specific time frame,” said NFTC President Bill Reinsch. “On the heels of President Obama’s State of the Union address during which he restated his commitment to this agreement, we view today’s announcement as a signal that the Administration is serious about continuing to boost economic growth and support American jobs by advancing the U.S. trade agenda.”

“The Colombian economy is dynamic and ever-growing, and is an important market for U.S. goods and services. Without a trade agreement in place, the U.S. has already seen its market share decline in key sectors, specifically agriculture – an industry in which we compete head on with Latin American, Canadian and European exporters,” said NFTC Vice President for Regional Trade Issues Chuck Dittrich. “Beyond being an important market in Latin America, Colombia has long been an vital ally in the region, and approval of the agreement within a clearly defined time frame will strengthen our diplomatic partnership.”

“The NFTC has advocated for the agreement before and since it was signed in November 2006, and we are very pleased that the Administration is prepared to move forward this year,” Reinsch concluded.

Video of today’s press conference can be found on the State Department’s website at http://www.state.gov/video/. The Secretary’s remarks regarding timing for submitting the Colombia FTA to Congress begin at the 21:54 minute mark.

About the NFTC
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 President’s Commitment to Advancing the U.S. Trade Agenda, Innovation Policies and Tax Reform

Posted on January 26, 2011June 28, 2022 by dcadmin

Washington DC – The National Foreign Trade Council (NFTC) today welcomed the President’s State of the Union remarks on the importance of expanding trade relations with key nations, enhancing American innovation and enacting tax reform. The NFTC released the following statement:

“We commend the President for restating his continued commitment to boosting U.S. export growth through the National Export Initiative, and expanding global market access for U.S. goods and services through trade. We also welcome the President’s call for Congress to approve the KORUS FTA as soon as possible, and we were encouraged by the his remarks on the Trans-Pacific Partnership Agreement negotiations and the Colombia and Panama free trade agreements,” said NFTC President Bill Reinsch.

“Regarding the Colombia and Panama agreements, we urge the President to turn his words of commitment into action by instructing his Administration to work vigorously and hand in hand with the Colombian and Panamanian governments to make those trade pacts a reality in the short term,” said NFTC Vice President for Regional Trade Issues Chuck Dittrich.

“We welcome President Obama’s focus on innovation, and he put his finger on some of the most important problems facing U.S. entrepreneurs and innovators. In order for America to remain an innovation leader, the Administration and Congress must reform immigration and visa policies to facilitate global mobility, ensure effective protection of American ideas in foreign markets, improve incentives for American students to pursue careers in science, technology, engineering and math and drive innovative U.S. exports,” said NFTC Vice President for Global Trade Issues Jake Colvin. “We look forward to working to help address them through smart public policy.”

“We are pleased that the President pointed out that American worldwide companies face one of the highest corporate tax rates in the world. That is far from a level playing field when we look at our competitors across the globe,” said NFTC Vice President for Tax Policy Cathy Schultz. “With the economy still in recovery, it is important that we stimulate U.S. competitiveness and job creation by enacting policies that will ensure U.S. multinational companies are able to compete globally. In that spirit, we urge the Administration and Congress and refrain from pursuing policies that unfairly saddle companies with what amount to tax hikes. Such policies will only hamper the ability of companies to create jobs and compete worldwide.”

“Overall, we were encouraged by the sense of bipartisanship in the President’s remarks and in the chamber itself. We hope that sentiment permeates what are likely to be contentious debates on all of these key issues affecting the American economy,” Reinsch concluded.

NFTC President Says Two Senate Bills Introduced Today Signal Room for Bipartisan Cooperation on Trade-Related Issues

Posted on January 25, 2011 by dcadmin

Washington DC – The National Foreign Trade Council (NFTC) welcomed two trade-related pieces of legislation introduced today – the Creating American Jobs Through Exports Act of 2011 and the SUGAR (Stop Unfair Giveaway and Restrictions) Act. The NFTC noted that both bills were introduced by a bipartisan set of co-sponsors – the first by Sens. Rob Portman (R-OH) and Joseph Lieberman (ID-CT), and the second by Sens. Jeanne Shaheen (D-NH) and Mark Kirk (R-IL).

“The NFTC welcomes the introduction of these bills, both on their merits and because they are an early signal in the 112th Congress that Members are genuinely committed to working together on a bipartisan basis to increase U.S. economic growth through trade,” said NFTC President Bill Reinsch.

“We applaud Sens. Portman and Lieberman for introducing a bill that calls on Congress to approve the three pending free trade agreements with Colombia, Panama and South Korea, and makes the case for restoring presidential Trade Promotion Authority,” said Reinsch. “All three FTAs are critical to maximizing U.S. economic growth and job creation, and helping our exporters – from small- and medium sized businesses to large companies with worldwide operations – maintain and expand their foothold in these three dynamic markets.”

“We also believe that to continue exploring avenues to boost the U.S. economy through trade, the President needs Trade Promotion Authority. This is an issue on which the NFTC has been actively involved for many years, and we look forward to continuing to share with Members of Congress our ideas for reforming and renewing negotiating authority,” said Reinsch.

In 2009, the NFTC released a draft “Trade Negotiating Authority Act of 2009,” which the Council developed to initiate debate over the appropriate objectives for negotiating trade agreements and an efficient “fast track” process for congressional consideration of implementing legislation. The NFTC’s draft bill, which builds on existing Trade Promotion Authority, includes new provisions that update negotiating objectives and reform the Congressional-Executive consultation process.

With respect to the SUGAR Act, the NFTC has long advocated reform of the current U.S. sugar program, which sets artificially low import quotas and applies high tariffs on imports exceeding those limits – raising prices for American industry and consumers.

“As the debate over the 2012 farm bill is soon to begin, we applaud Sens. Shaheen and Kirk for taking an early stand and calling into question current U.S. sugar policy,” said Reinsch. “Sugar prices are at an all-time high, and this issue not only affects consumers but U.S. sugar-using industries and the thousands of workers they employ.”

For more information, please contact Jennifer Cummings at jcummings@fratelli.com.

NFTC Commends President Obama for Taking Long-Awaited Steps to Expand U.S. Travel to Cuba

Posted on January 14, 2011April 11, 2025 by dcadmin

Washington, DC – In response to the announcement by the White House of new regulations governing travel and remittances to Cuba, NFTC Vice President Jake Colvin released the following statement:

“Today’s announcement is a welcome and long-overdue step in the right direction for U.S. Cuba policy. The changes to U.S. regulations will permit more contact between Americans and Cubans, which is good for both. Americans will be able to travel to Cuba for a greater variety of academic, religious and cultural reasons to act ambassadors in a country where official contacts have yet to be normalized.

“NFTC has long maintained that the President has the ability to make significant changes to the rules governing U.S. Cuba policy. Today’s announcement is an example of both the ability and willingness of the Obama Administration to realign Cuba policy with the interests of American citizens and the Cuban people. We hope the Administration and Congress will take additional steps over the coming months to further restore the ability of Americans to travel and trade with Cuba.”

To coincide with the announcement, NFTC and USA*Engage released a timeline of recent activity on Cuba highlighting increasing momentum to change policy.

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NFTC Welcomes Administration’s Engagement with Mexican Government on Cross-Border Trucking

Posted on January 6, 2011 by dcadmin

Washington DC – The National Foreign Trade Council (NFTC) today welcomed news that the Obama Administration is working with the Mexican Government to map out a resolution to the cross-border trucking dispute. The NFTC noted that the release of a U.S. Department of Transportation concept paper on the trucking issue is a sign that concrete steps are being taken to settle this dispute in the near term.

“We welcome the Administration’s announcement and hope that this issue can be resolved once and for all very soon,” said NFTC President Bill Reinsch. “The United States cannot afford inaction or slow movement, given the real dollars and cents impact of the tariffs Mexico put in place because we failed to abide by our trade commitments.”

“The President has repeatedly stated his interest in settling the trucking dispute, and today’s announcement signals that his team is moving forward by taking necessary steps to reach a resolution,” said NFTC Vice President for Regional Trade Initiatives Chuck Dittrich. “It is both in the United States’ and Mexico’s interests to resolve this issue quickly, and we are encouraged that the Administration will now engage the Mexican Government to devise a solution that will benefit workers and consumers in both countries. This is a promising start to a pro-active 2011 U.S. trade agenda.”

To read the U.S. Department of Transportation concept paper on the issue, please click here.

About the NFTC

Advancing Global Commerce for Over 95 Years – 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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