Category: Press Releases and Statements

NFTC, US-Colombia Business Partnership Press for Renewal of Andean Trade Preferences

Posted on by dcadmin

Washington, DC – In a letter sent today to House and Senate leaders, the National Foreign Trade Council (NFTC) and the US-Colombia Business Partnership wrote:

“On behalf of the member companies of the US-Colombia Business Partnership and the National Foreign Trade Council, we urge you to renew the Andean Trade Preferences Act (ATPA) for Colombia prior to the adjournment of the 110th [sic] Congress. We collectively represent a broad coalition of companies in the energy, pharmaceutical, consumer products, mining, financial investments in Colombia provide economic development to thousands of Colombians seeking employment in the legitimate economy, while simultaneously benefiting American workers across the United States….

“Failure to renew ATPA would not only directly impact American jobs, but would be a devastating blow to Colombia. As one of America’s closest allies in Latin America, and a country that has fully lived up to its obligations under the ATPA, it deserves to have these benefits extended. Simply put, our exports both in products and services to Colombia provide for good paying jobs in the U.S. and we support a rules-based preference program where trade benefits are earned by those countries that live up to defined criteria. We urge you to renew the ATPA by the close of this Congress and before the December 31, 2010 expiration.”

To read the full text of the letters, please click here.

The NFTC also joined a number of other leading business community associations in sending to Speaker Pelosi, Minority Leader Boehner and the Chairman and Ranking Member of the Ways and Means Committee, a letter urging House passage of the Omnibus Trade Act of 2010 (H.R. 6517).

To read that letter, 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.
Follow us on:

NFTC Urges Congress to Extend TAA, Trade Preferences Before Adjournment

Posted on by dcadmin

Washington, DC – The National Foreign Trade Council (NFTC) today urged Congress to extend the Trade Adjustment Assistance (TAA) program, the Andean Trade Preferences Act (ATPA), the Generalized System of Preferences (GSP) and the Miscellaneous Tariff Bill (MTB) before adjourning for the year. The NFTC noted that the bill introduced by House Ways and Means Committee Chairman Sander Levin (H.R. 6517) is a useful legislative vehicle to extend all four programs, although there are other approaches that could achieve the same result. NFTC President Bill Reinsch and NFTC Vice President for Regional Trade Initiatives Chuck Dittrich released the following statement.

“TAA, GSP, ATPA and MTB are central to U.S. competitiveness, export growth and job creation. We strongly urge the House and Senate to put political differences aside and work together in the time remaining in this session to extend all four,” said Reinsch. “Allowing these programs to expire would put at risk U.S. export growth and jobs both here in the United States and in many of the countries with which we trade. In addition, any lapse in the preference programs could jeopardize critical trading relationships we maintain around the globe, opening the door to our competitors. A lapse in the expanded TAA provisions would remove these important benefits from service workers and others who are committed to developing the skills needed to re-enter the global workforce. We simply cannot afford to let these programs expire at the end of the year.”

“TAA provides an economic lifeline to U.S. workers who have been adversely affected by trade, and helps them acquire new skills needed for re-entry into the workforce. The preference programs aid complementary sectors of many of our trading partners’ economies. All of the programs play a critical role in our international trade policy, and are of vital importance to the thousands they serve,” said Dittrich. “The NFTC has consistently advocated for extensions of these programs, and it is with a sense of urgency, that we ask Congress to move forward with their renewal as soon as possible before adjournment.”

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.
Follow us on:

WEF Working Group Releases White Paper on Intersection of Climate Change and Trade Policies

Posted on by dcadmin

Washington, DC – The World Economic Forum (WEF) Trade and Climate Change working group, of which National Foreign Trade Council (NFTC) President Bill Reinsch is a member, today released a discussion paper at the climate talks in Cancun on the linkages between international trade law and national and international action on climate change. The paper, titled From Collision to Vision: Climate Change and World Trade, includes recommendations for how countries can work together to develop a comprehensive climate change treaty that achieves key environmental goals, and is in line with World Trade Organization (WTO) rules. As a member of the working group, the NFTC provided input on the collaborative paper to reflect the views of its member companies. NFTC Vice President for Global Trade Issues Jake Colvin participated in today’s press conference rollout of the paper.

“As the international conversation on addressing climate change continues to evolve, it is critical for world leaders to recognize the intersection between policies to mitigate the impacts of climate change and the rules-based world trading system,” said NFTC President Bill Reinsch. “What this paper aims to point out is that reaching an international agreement on climate change that is both ambitious in terms of reducing greenhouse gas emissions and protecting the environment, while at the same time recognizing the rules-based international framework, is achievable.”

The paper includes the following recommendations:

1. As with other aspects of climate change, the ideal solution for preventing a collision between trade and climate change is the early conclusion of an effective and comprehensive global climate change treaty.

2. If there is no early conclusion of an effective and comprehensive global climate treaty on climate change, national efforts to confront climate change are likely to proliferate. These efforts must not include protectionist provisions, as resort to protectionism would lead to mutually destructive conflicts over trade.

3. In the working group’s strong view, the members of the WTO should begin immediately to negotiate agreements to resolve the issues likely to arise from the enactment of national measures on climate change rather than leave those issues to eventual resolution in WTO dispute settlement.

4. WTO rules should not be viewed solely as constraints on efforts to address climate change. WTO rules can and should be used affirmatively to help fight climate change.

5. The WTO can be a model for how the world structures the international effort to address climate change and move towards the needed conclusion of global agreement on a comprehensive climate treaty.”

 

To read the full discussion paper, please click here.
 

The NFTC is participating in a number of different events at the United Nations Climate Change Conference (COP16) in Cancun. Tomorrow Jake Colvin will moderate a discussion on “Encouraging Clean Technology: The Role of the Global Trading System in Facilitating Cross-Border Innovation, Collaboration and Technology Adoption.” Colvin was also a panelist during a discussion held yesterday on carbon-based border tax adjustments.

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

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.
Follow us on:

 

NFTC Welcomes Conclusion of KORUS FTA Negotiations

Posted on by dcadmin

Washington, DC – The National Foreign Trade Council (NFTC) today congratulated the U.S. and Korean governments for working together to resolve issues standing in the way of advancing the KORUS FTA. The NFTC released the following statement:

“The KORUS FTA has long been a policy priority of the U.S. business community, and the NFTC commends U.S. and Korean negotiators’ commitment to resolving market access issues with respect to autos,” said NFTC President Bill Reinsch. “The FTA will play a critical role in strengthening our economic partnership with Korea, as well as our decades-long strategic alliance.”

“With Korea as our 7th largest trading partner, the reduction and elimination of tariff and non-tariff trade barriers will provide greater market access for a wide range of U.S. companies, service providers and agricultural producers – helping to increase U.S. exports and economic growth,” said NFTC Vice President for Regional Trade Initiatives Chuck Dittrich. “We view today’s announcement as a positive signal that the Administration is committed to advancing the U.S. trade agenda. As we look ahead to the end of this year and next, we urge the President to move forward with submitting the implementing legislation to Congress as soon as possible. It is with the same sense of urgency that we ask the Administration to take action on the trade pacts with Colombia and Panama.”

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.
Follow us on:

 

NFTC and Other Leading U.S. Business Groups Urge Congress to Extend TAA Program

Posted on by dcadmin

Washington DC – The National Foreign Trade Council (NFTC) today joined with 17 other key business associations and companies in sending a letter to the leaders of the Senate Finance Committee and House Ways and Means Committee, urging them to support the extension of the Trade Adjustment Assistance (TAA) program before the December 31 deadline.

The groups wrote:

“As the U.S. economy struggles to recover from the global economic crisis, TAA is serving more Americans than ever before. 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. TAA for Firms is also seeing record usage this year with a 30% increase in small U.S. manufacturing and service firms being certified into the program over FY-2009. And the TAA for Farmers program has helped about 5,000 agricultural producers across the country improve their competitiveness.

“An effective TAA program that gives displaced workers the skills and resources they need to re-enter the job market is a central element of U.S. trade policy and key to future U.S. competitiveness. We urge you to act now to extend TAA, providing the certainty of funding that American workers, firms, farmers, ranchers and communities need to retool for success in the global economy. Failure to do so will adversely impact thousands of Americans, decreasing the number of those eligible for benefits, and making the remaining program provisions more difficult to access and administer.”

“TAA is a key part of the U.S. competitiveness strategy. It is instrumental in helping those whose jobs have been adversely affected by trade acquire new skills and new opportunities for employment,” said NFTC President Bill Reinsch. “We urge members of Congress on both sides of the aisle to put politics aside and work together to extend the program as soon as possible before the end of the year.”
 
To read the full text of the letter, please click here.

 

About the 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:

As Lame Duck Begins, Leading Business Groups Urge Congressional Leaders to Oppose International Tax Hikes Before Year’s End

Posted on by dcadmin
 

Washington, DC – In a letter to House, Senate and tax-writing committee leaders, the National Foreign Trade Council (NFTC) and 18 other key business groups urged Congress to oppose any efforts to increase the tax burden on U.S. companies before the end of the year. The associations wrote:

“During this time of widespread economic uncertainty, proposals to increase taxes on U.S. companies – including small businesses, domestic companies, worldwide American companies and U.S. subsidiaries of companies headquartered abroad – could have significant negative repercussions for the struggling American economy. Given the urgent need for new private sector jobs, adding to the tax burden would only undermine vital economic recovery efforts now underway throughout the country….

“…[W]e ask you to put job creation at the very top of your legislative priorities and oppose any proposals that would make it more difficult for U.S. businesses to maintain their current payrolls or expand to help put more Americans back to work.”

“Our economic recovery is inching along, and imposing tax burdens on any companies now would be counterproductive and only prolong the economic difficulties facing the country,” said NFTC Vice President for Tax Policy Cathy Schultz. “Congress and the Administration should instead focus their attention on developing policies that stimulate U.S. competitiveness and job creation.”

In addition to the NFTC, the following associations signed the letter: Alliance of Automobile Manufacturers; American Chemistry Council; American Gas Association; American Petroleum Institute; American Staffing Association; Association of Equipment Manufacturers; Association of International Automobile Manufacturers; AMT-The Association for Manufacturing Technology; Business Roundtable; Emergency Committee for American Trade (ECAT); European-American Business Council; Financial Executives International Committee on Taxation; National Association of Manufacturers; Organization for International Investment; PhRMA; U.S. Chamber of Commerce; U.S. Council for International Business; and Tech America.

To read the full text of the letter, 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.
Follow us on:

 

NFTC Welcomes Vietnam and Malaysia’s Participation in TPP Negotiations

Posted on by dcadmin
 

Washington, DC – The National Foreign Trade Council (NFTC) today welcomed news from the Asia-Pacific Economic Cooperation (APEC) leaders’ summit in Yokohama, Japan, that Vietnam has announced its decision to fully participate in the Trans-Pacific Partnership (TPP) Agreement negotiations. TPP partners also formally welcomed Malaysia to the negotiations, which announced its intent to join the talks on October 5, 2010. The NFTC released the following statement:

“Vietnam’s full participation and the addition of Malaysia will further the advancement of trans-Pacific economic integration and expand U.S. economic engagement in the Asia-Pacific region,” said NFTC President Bill Reinsch. “The TPP Agreement, once fully negotiated and implemented, has the potential to significantly boost the U.S. economy and help achieve the goals of the Administration’s National Export Initiative – increased U.S. exports and American jobs.”

“With so many dynamic economies represented at the negotiating table, the TPP Agreement could become the cornerstone of a new, more robust economic and commercial relationship between the United States and the Asia-Pacific region,” said NFTC Vice President for Regional Trade Initiatives Chuck Dittrich. “Malaysia is one of the top 25 largest export markets, for U.S. goods and services, and Vietnam is one of the top 50, so we are very pleased with today’s news coming out of the APEC Leaders Summit.”

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.
Follow us on:

 

NFTC Welcomes Upcoming Continued Discussions to Resolve Key Issues in KORUS FTA Negotiations

Posted on by dcadmin
Washington, DC – The National Foreign Trade Council (NFTC) today thanked U.S. and Korean negotiators for working together to move the KORUS FTA negotiations forward, and welcomed upcoming discussions aimed at achieving resolution on the beef and auto issues. The NFTC released the following statement:

“We greatly appreciate the efforts of the U.S. and Korean governments, specifically Ambassador Kirk and Minister Kim, for working together over the past few weeks to solve the key issues standing in the way of positive action on the FTA,” said NFTC President Bill Reinsch. “It is our hope that a resolution can be reached in the coming weeks that will achieve free, fair and open access to the Korean market for all U.S. sectors, including autos and beef. Reaching resolution on these issues is critical, but we must not lose sight of the fact that the totality of the agreement has the potential to substantially contribute to U.S. economic growth and job creation.”

“Korea is a vitally important economic partner and strategic ally, and the KORUS FTA is the most commercially significant trade agreement in nearly two decades. Given the slow pace of our economic recovery and the president’s goal to double exports and create millions of jobs in the next five years, the KORUS FTA has the potential to be a major stimulus to the U.S. economy. The agreements with Colombia and Panama are also a part of the economic growth equation,” said NFTC Vice President for Regional Trade Initiatives Chuck Dittrich. “The continued discussions that will take place over the next few weeks must lead to a path forward on the KORUS FTA. The U.S. simply cannot afford the alternative, as this agreement could create as many as 70,000 new jobs and contribute nearly $12 billion to our GDP.”

 

 

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.
Follow us on:

 

Global Innovation Forum Detroit Conference Generates New Ideas for Spurring Export Growth and Job Creation Through Innovation Policy

Posted on by dcadmin
Washington, DC – Education, immigration and export policies and worries of a severe credit crunch dominated a discussion hosted by the National Foreign Trade Council Foundation’s Global Innovation Forum (GIF) on Tuesday in the Detroit metro area.

The workshop, “Tapping into Global Demand for Innovative Manufacturing,” was aimed at engaging senior business and government leaders, academicians and policy experts in a dialogue about the role of state and federal policies in increasing U.S. exports, promoting innovation and creating high-wage jobs nationwide.

“What we heard in Detroit was a tremendous amount of enthusiasm for greater regional collaboration and a yearning for state and federal policy solutions to increase access to credit, fix our immigration system so that we welcome the best and the brightest, and improve commercial diplomacy abroad,” said Bill Reinsch, President of the National Foreign Trade Council.

The conference featured remarks by Detroit Regional Chamber President & CEO Sandy Baruah, University of Michigan President Mary Sue Coleman, Michigan State AFL-CIO President Mark Gaffney, U.S. Department of Commerce Assistant Secretary for Manufacturing and Services Nicole Lamb-Hale, W Industries President & CEO Ed Walker, Fluxtrol President Robert Ruffini and senior representatives from the Chrysler Group LLC, General Electric and Procter & Gamble.

Education and visa policies were the key focus of a discussion by State leaders about how to help attract investment and entrepreneurs to Michigan. University of Michigan President Mary Sue Coleman noted that championing math and science careers, “has to be a national emergency.” Talking about the importance of entering these fields at the highest levels of government and business would make a huge impact.

A separate conversation on the role of federal policy focused on initiatives by the Obama Administration and Congress to create jobs, including the president’s National Export Initiative (NEI).

“GE strongly supports the National Export Initiative, particularly the emphasis on trade promotion,” said Del Renigar, Senior Counsel for International Policy & Trade, General Electric. “The U.S. isn’t necessarily as active in commercial diplomacy as its counterparts in export-led economies such as Germany, Japan, and France, who devote more resources to this and whose chief deal closers tends to be their president or prime minister. As we saw in India the other week, the U.S. can be very effective when it does this.”

Speakers throughout the day also highlighted the severe impact of a credit squeeze, particularly on small businesses.

The forum was held in partnership with Automation Alley, the Detroit Regional Chamber, NextEnergy and Tech Town for CEOs. Sponsors included the General Electric Foundation and Pfizer.

“Conventional wisdom is that the government does not have a role in fostering innovation,” said Kate Gordon, Vice President for Energy Policy, Center for American Progress. “Sometimes that’s true, but history shows the government has played a major role in areas like solar, microwaves, electric batteries and the Internet. Regulations, financing and infrastructure can help create markets and drive innovation.”

About NFTC and the Global Innovation Forum

The National Foreign Trade Council was founded in 1914 and is the oldest and largest trade association devoted entirely to advocating an open, rules-based international trade system. NFTC promotes open markets and U.S. engagement in the world on behalf of its member companies, which include Boeing, Caterpillar, Chevron, General Electric, Hanes Brands, IBM, Microsoft, Oracle, United Technologies and Wal-Mart.

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.

NFTC Joins Other Leading U.S. Business Groups in Urging Congress to Approve GSP Extensions

Posted on by dcadmin
Washington, DC – The National Foreign Trade Council (NFTC) today joined with The Coalition for GSP and nearly 100 other companies and business organizations in sending a letter to the leaders of the House Ways and Means Committee and Senate Finance Committee, urging them to support the one-year extension of the Generalized System of Preferences (GSP) before the December 31, 2010 deadline.

The groups wrote:
 

“The GSP program supports American manufacturing by reducing costs of inputs, machinery and equipment. It also helps struggling American families make ends meet by lowering the costs of consumer goods imported duty free under GSP. Congress cannot afford to let this valuable program expire.…

“The GSP program enjoys strong bipartisan support in Congress. Given the continued uncertainty in the U.S. economy and the desire of Congress to pass legislation that benefits American families, workers, and companies, we urge you to make renewal of the GSP program a priority for early action.”

“The NFTC was an early proponent of preference reform this year but in lieu of a comprehensive reform effort, we urge Congress to extend the GSP program as soon as possible before adjourning for the year,” said NFTC Vice President for Regional Trade Initiatives Chuck Dittrich. “As Congress returns for the lame duck session, extending the GSP and other trade preference programs should be a bipartisan priority. The GSP is critical, as it provides needed economic incentives in developing countries for poverty alleviation while maintaining cost effective inputs for U.S. manufacturing.”
To read the full text of the letter, 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.
Follow us on: