Category: Press Releases and Statements

Leading Trade Group Says Continued U.S. Government Inaction on Mexican Trucking Dispute is Costing U.S. Exporters

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Calls on President, Congress to Resolve Dispute As Soon as Possible

Washington, DC – On the heels of an announcement by the Mexican Government that Mexico will impose additional retaliatory tariffs on U.S. goods as a result of the ongoing cross-border trucking dispute, the National Foreign Trade Council (NFTC) today released the following statement.

“As today’s announcement by the Mexican Government makes clear, ignoring the trucking issue and failing to abide by our trade commitments has real economic costs,” said NFTC President Bill Reinsch. “Given the state of the U.S. economy and the current trade deficit, the United States cannot afford to continue standing still on this issue while Mexico imposes new harmful tariffs, causing a shift away from U.S. goods.”

“Failure to take action on this issue is hurting U.S. exporters – from small and large companies as well as our farmers – not our competitors,” said NFTC Vice President for Regional Trade Initiatives Chuck Dittrich. “As we work to achieve the President’s goal of doubling U.S. exports, it is important to keep in mind that every export counts. Today’s announcement should come as a signal to the Administration that resolving the dispute is in the United States’ economic interest.”

“The President has stated his willingness to address the trucking issue, and we urge him to work with Congress to develop a viable solution as soon as possible – one that honors our commitments under NAFTA and which will end Mexico’s retaliatory tariffs,” Reinsch concluded.

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 Urges Administration to Move Forward With Next Steps on Colombia FTA

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With the Canada-Colombia FTA Now Law, U.S. Cannot Afford to Continue Standing Still

Washington, DC – In response to news that the Canadian Government signed the Canada-Colombia Free Trade Agreement into law today, the National Foreign Trade Council (NFTC) released the following statement.

“The news coming out of Canada is a stunning reminder that while we stand still on the trade pact we signed with Colombia in 2006, our competitors are aggressively seizing opportunities to strengthen their economic relations with one of the most important allies we have in Latin America,” said NFTC President Bill Reinsch. “As President Obama pointed out six months ago in his State of the Union address, ‘If America sits on the sidelines while other nations sign trade deals, we will lose the chance to create jobs on our shores.’ The president was right. The cost of inaction is great and the United States can’t afford it.”

“We are encouraged that the Administration committed over the weekend to move forward with negotiations on the pending FTA with Korea, with the goal of approving the agreement this year or early next. However, we urge the president to show the same kind of leadership on the Colombia and Panama agreements. All three agreements and all three markets offer opportunities to generate U.S. economic growth for our key industries,” said NFTC Vice President for Regional Trade Initiatives Chuck Dittrich.

“With respect to agriculture, we are already losing ground in the Colombian market. Just last year, Colombian imports of U.S. corn, wheat and soybean meal declined 60 percent, due in large part to the Mercosur agreement’s full entry into force. To make matters worse, we are in direct competition with Canada to sell our wheat, barley and pork to Colombia. As the U.S.-Colombia FTA continues to sit on the backburner, our exporters are facing high tariffs on these goods, while Canadian exporters will benefit from the phasing out and zeroing out of tariffs. Our farmers cannot afford to continue to lose market share, nor can our manufacturers and service providers. We urge the president to take action now,” said Dittrich.

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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 and USA*Engage Welcome Ag Committee’s “New Strategy of Engagement” for Cuba

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Business Groups Applaud Passage of Legislation to Repeal Travel Ban, Ease Trade Restrictions

Washington, DC – The National Foreign Trade Council (NFTC) and USA*Engage today applauded the House Agriculture Committee for approving H.R. 4645, the Travel Restriction Reform and Export Enhancement Act, during a markup this afternoon. NFTC Vice President for Global Trade Issues Jake Colvin released the following statement:

“NFTC commends the House Agriculture Committee for favorably reporting H.R. 4645. Today’s vote is the first step towards a more rational foreign policy towards Cuba, and one that the business community strongly supports.

“Now that this bill has passed the Committee, we urge House leadership to bring the bill to the floor quickly. Should this important piece of legislation come to the floor, Members’ votes will be included in this year’s NFTC/USA*Engage Congressional scorecard.

“This bill is in the interest of American farmers, businesses and citizens, and would mark one of the only pro-trade votes the House may have this year.

“We applaud the members of the committee who voted in favor of this legislation. We are particularly grateful to Chairman Peterson for his dedication and leadership in moving this bill forward, as well as for his ongoing efforts to champion U.S. Cuba policy reform.”

 

NFTC and USA*Engage have been strong advocates of the legislation which would lift restrictions on travel by American citizens to Cuba and U.S. agricultural and humanitarian exports to the country. Yesterday, the associations sent a letter to all members of the committee urging them to support the bill.
 

*NOTE: If you would like additional commentary or an opportunity to speak with Jake about the markup, please contact Jennifer Cummings at 202-822-9491 or jcummings@fratelli.com.

 
 
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About USA*Engage

USA*Engage (www.usaengage.org) is a coalition of small and large businesses, agriculture groups and trade associations working to seek alternatives to the proliferation of unilateral U.S. foreign policy sanctions and to promote the benefits of U.S. engagement abroad. Established in 1997 and organized under the National Foreign Trade Council (www.nftc.org), USA*Engage leads a campaign to inform policy-makers, opinion-leaders, and the public about the counterproductive nature of unilateral sanctions, the importance of exports and overseas investment for American competitiveness and jobs, and the role of American companies in promoting human rights and democracy world wide.

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, USA*Engage Urge House Agriculture Committee to Approve Bill to Lift Cuba Travel Restrictions, Boost U.S. Exports

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Washington DC – On eve of tomorrow’s House Agriculture Committee markup of H.R. 4645, the Travel Restriction Reform and Export Enhancement Act, the National Foreign Trade Council (NFTC) and USA*Engage today sent a letter to all members of the committee to urge them to support the bill. NFTC and USA*Engage advocated for the legislation which would lift restrictions on travel by American citizens to Cuba and U.S. agricultural and humanitarian exports to the country. The associations wrote:

 

“H.R. 4645 represents a bipartisan effort to remove self-imposed and counterproductive barriers to American citizens, farmers and businesses to humanitarian trade with and travel to Cuba. The legislation would reverse the controversial and restrictive “payment of cash in advance” rule governing U.S. exports to Cuba, eliminate an expensive and unnecessary requirement that payments to U.S. agricultural sellers must pass through banks in third countries and lift restrictions on travel by American citizens to Cuba…The Committee mark up on Wednesday will likely be one of the only opportunities this year to vote to liberalize trade and encourage U.S. engagement in the world.”

“Members of the Agriculture Committee have a golden opportunity to vote for a bill that helps American farmers, businesses and citizens, as well as the Cuban people,” said NFTC Vice President for Global Trade Issues Jake Colvin. “We commend Chairman Peterson for his leadership on fixing America’s relationship with Cuba and hope that Members of the Committee will support the Chairman on Wednesday.”
The letter notes that, should the bill come to the floor, members’ votes will be included in this year’s NFTC/USA*Engage Congressional scorecard.

For a copy of the letter, please click here.
 
 

 
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About USA*Engage

USA*Engage (www.usaengage.org) is a coalition of small and large businesses, agriculture groups and trade associations working to seek alternatives to the proliferation of unilateral U.S. foreign policy sanctions and to promote the benefits of U.S. engagement abroad. Established in 1997 and organized under the National Foreign Trade Council (www.nftc.org), USA*Engage leads a campaign to inform policy-makers, opinion-leaders, and the public about the counterproductive nature of unilateral sanctions, the importance of exports and overseas investment for American competitiveness and jobs, and the role of American companies in promoting human rights and democracy world wide.

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 Applauds President Obama’s Commitment to Move KORUS FTA Forward

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Washington, DC – The National Foreign Trade Council (NFTC) today applauded President Obama’s commitment to submit the U.S.-Korea Free Trade Agreement (KORUS FTA) to Congress for approval this year. The NFTC released the following statement.

“We commend the president for stating his commitment to negotiating a way forward on issues that stand in the way of approval of the FTA, including the auto issue, and we applaud his plan to submit the agreement to Congress this year,” said NFTC President Bill Reinsch. “The KORUS FTA is the most commercially significant agreement in 16 years, and with the president’s goal of doubling exports and creating two million U.S. jobs in five years, ratification of the FTA is part of achieving that objective.”

“Wednesday marks the three-year anniversary of the signing of the FTA, and we are pleased that the president has announced his intentions to move the agreement forward this year,” said NFTC Vice President for Regional Trade Initiatives Chuck Dittrich. “Korea is one of the world’s largest and most dynamic economies, and as our 7th largest trading partner, strengthening our bilateral trade ties will help to generate U.S. economic growth and create jobs.”

“We urge members of Congress to work with the Administration in a constructive manner to achieve the goal of approving the FTA this year. Both branches bear responsibility to pass an agreement that will help stimulate economic growth and job creation,” said Reinsch.

About 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, USA*Engage Express Concerns Over Iran Sanctions Conference Report

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Washington, DC – The National Foreign Trade Council (NFTC) and USA*Engage today expressed concerns over the unilateral and extraterritorial sanctions, as well as the state divestment provisions contained in the Comprehensive Iran Sanctions Accountability and Divestment Act of 2010 conference report. The associations released the following joint statement.

“Just two weeks ago, the Administration successfully garnered international support and cooperation to impose additional multilateral UN sanctions against Iran. Given this recent development, we are deeply concerned about the timing of this legislation and its unintended consequences for legitimate global commerce,” said NFTC President and USA*Engage Co-Chair Bill Reinsch.

“We continue to believe the legislation is ill-advised. Unilateral sanctions fail to produce their intended effects upon sovereign states, and the scope of these sanctions is worrisome. We realize that the conferees have made some efforts not to damage normal commerce and the global supply chain in the construction of the sanctions regime,” said USA*Engage Director Richard Sawaya.

“We endorse the commitment to duly-licensed humanitarian trade in agricultural and medical products, as well as the provision for safe operation of U.S.-made aircraft. We also are encouraged that the legislation addresses some of the legitimate concerns of U.S. companies not engaged in commerce in Iran, and that it affords the president flexibility in applying the sanctions,” Sawaya continued.

“We have and will continue to urge Congress to support the president’s multilateral and multilayered diplomacy with Iran,” Reinsch concluded.

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About USA*Engage

USA*Engage (www.usaengage.org) is a coalition of small and large businesses, agriculture groups and trade associations working to seek alternatives to the proliferation of unilateral U.S. foreign policy sanctions and to promote the benefits of U.S. engagement abroad. Established in 1997 and organized under the National Foreign Trade Council (www.nftc.org), USA*Engage leads a campaign to inform policy-makers, opinion-leaders, and the public about the counterproductive nature of unilateral sanctions, the importance of exports and overseas investment for American competitiveness and jobs, and the role of American companies in promoting human rights and democracy world wide.

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 Opposes Revenue Offset Provisions Included in Tax Extender Legislation

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Argues Proposals will Undermine Competitiveness of Worldwide American Companies

Washington, DC – The National Foreign Trade Council (NFTC) today released a position paper detailing its opposition to the revenue offset provisions included in the extender legislation being considered by Congress. The paper, which expresses support for the inclusion of the look-through rule and subpart F provisions that expired last year, focuses primarily on three international tax provisions which would undermine the competitiveness of worldwide American companies – the foreign tax credit splitter provision, the Section 338 covered asset acquisition proposal and the limitation on the use of Section 956. The NFTC argues that these proposed changes to the U.S. international tax system, to be applied retroactively, are unfair and will make it more difficult for worldwide American companies to compete internationally.

In the NFTC paper sent today to all members of the House Ways and Means and Senate Finance committees, the association stated the following:

“…The revenue offsets included in the extender legislation were developed in closed door meetings without input from the affected taxpayers. The U.S. international tax rules are complex and increasingly out of step with the rest of the world. These new revenue proposals will make American businesses less able to compete in foreign markets, will subject them to double taxation, and as a result may have significant negative consequences on worldwide American businesses and their U.S. employees.

“…In addition, the provisions are retroactive and will affect taxpayers who have relied on long standing rules in the tax code in doing their tax planning. Taxpayers need to be able to rely on certainty of tax rules when making business decisions, and the retroactive application of adverse tax changes is unfair and will make it more difficult for American worldwide companies to compete in the global marketplace.

“…These international tax revenue raisers should be thoughtfully considered only in the context of tax reform rather than as piecemeal permanent revenue raisers for short term extensions of expiring tax provisions.

“…The effective dates included in the legislation penalize taxpayers who have acted in good faith and who have relied on the current tax code in planning their transactions. If Congress unadvisedly enacts these proposals without careful deliberation of the long term ramifications, it should at the very minimum make the effective date of these proposals prospective for taxable years beginning on or after December 31, 2010. Otherwise, American companies would unfairly face retroactive tax increases that would break long-standing tax policy that strongly favors making tax increases prospective only.”

 

To read the full paper, please click here

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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Washington, DC & Research Triangle Groups Collaborate on Innovation Policy Recommendations to President Obama, Governor Perdue

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Innovation stakeholders suggest global mobility, trade policies key to creating U.S. jobs
 
 
Washington, DC – In letters sent today to President Obama and North Carolina Governor Beverly Perdue, National Foreign Trade Council Foundation (NFTC Foundation) President Bill Reinsch and Research Triangle Foundation President & CEO Rick Weddle outlined a series of recommendations for leveraging public policy to expand U.S. exports, encourage innovation and create high-wage jobs across the country. The recommendations were developed during a one-day workshop hosted by the NFTC Foundation’s Global Innovation Forum in partnership with the Research Triangle Foundation on April 16, which brought together a broad range of innovation stakeholders, including more than 20 CEOs, 90 inventors, academics, non-governmental organizations, and state and federal policymakers.

During the event, which was held in Research Triangle Park, North Carolina, attendees identified several areas of concern for U.S. businesses, workers and entrepreneurs, including global trade barriers, counterfeiting and piracy, access to capital and cultivating and retaining entrepreneurs, innovators and talented employees. Immigration and visa policies were particularly high on the list of concerns of local business leaders. Based on the discussion, the letter details five key areas of focus for public policy, including: 
 

  • Improving U.S. immigration and global mobility policies; 
  • Creating a more open, rules-based, competitive trading environment by aggressively pursuing new trade agreements and enforcing existing regulations; 
  • Promoting the importance of the intellectual property rights system as a means to encourage innovation and provide a framework for advanced research collaboration and technology sharing;
  •  Improving access to capital, particularly for innovative small businesses and entrepreneurs; and
  •  Supporting efforts by emerging innovators, entrepreneurs and small businesses to engage the public policy process.
     
“We hope this feedback will be useful as you prioritize efforts to shape national innovation and trade policies to support your ambitious goal of doubling exports in five years,” wrote Reinsch and Weddle in the letter sent to the President.

The Research Triangle Park event was the first in a series of innovation policy discussions to be held around the country, made possible thanks to a grant from the GE Foundation to the NFTC Foundation. The next innovation discussion will take place at the Palo Alto Research Center in Palo Alto, California.

In addition to the Research Triangle Foundation, the North Carolina forum was held in partnership with the Nicholas Institute for Environmental Policy Solutions of Duke University, the Council for Entrepreneurial Development, the North Carolina Biotechnology Center and the North Carolina Sustainable Energy Association. In addition to the GE Foundation, Progress Energy, GlaxoSmithKline, ABB, IBM and Cisco also helped sponsor the event.

To read the letters, please click here.

About NFTC, NFTC Foundation and the Global Innovation Forum

The National Foreign Trade Council, founded in 1914 and headquartered in Washington, DC, with offices in New York City, 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.

Incorporated in 1979, the National Foreign Trade Council Foundation is the educational arm of the NFTC. It is a 501(c)(3) organization incorporated under the laws of the state of New York. The NFTC Foundation’s mission is to inspire, encourage and facilitate international trade and investment in order to enhance economic growth and job creation throughout the world.

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 public policy that supports the innovation ecosystem 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 to common challenges.

NFTC, USA*Engage Welcome Multilateral Agreement on UN Security Council Iran Sanctions Resolution

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Washington, DC – The National Foreign Trade Council (NFTC) and USA*Engage today welcomed news from the Obama Administration regarding an agreement reached with Russia and China on a draft UN Security Council resolution calling for multilateral sanctions against Iran. The two organizations released the following statement.

“We applaud the Administration’s success in reaching agreement with Russia and China on a draft UN Security Council sanctions resolution. As we’ve stated repeatedly, only multilateral economic sanctions have a legitimate chance to influence the Iranian regime. Unilateral sanctions shut out the international community rather than encourage cooperation,” said NFTC President and USA*Engage Co-Chair Bill Reinsch.

“We continue to believe that unilateral economic sanctions do not work and indeed often only harm U.S. economic interests. That said, we recognize that House and Senate conferees now engaged in completing Iran sanctions legislation are committed to passing additional U.S. unilateral sanctions. We urge them to target the legislation to identified bad actors and not penalize U.S. companies or U.S. subsidiaries of foreign companies with no direct ties to Iran’s energy sector. Attempting to repeal the global supply chain will not add to the multilateral effort and will only hurt the U.S. economy,” said Richard Sawaya, USA*Engage Director.

About USA*Engage

USA*Engage (www.usaengage.org) is a coalition of small and large businesses, agriculture groups and trade associations working to seek alternatives to the proliferation of unilateral U.S. foreign policy sanctions and to promote the benefits of U.S. engagement abroad. Established in 1997 and organized under the National Foreign Trade Council (www.nftc.org), USA*Engage leads a campaign to inform policy-makers, opinion-leaders, and the public about the counterproductive nature of unilateral sanctions, the importance of exports and overseas investment for American competitiveness and jobs, and the role of American companies in promoting human rights and democracy world wide.

AboutNFTC

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 President Obama to Send Pending FTAs to Congress This Year

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Washington, DC – On the three-year anniversary of the bipartisan May 10 agreement on trade, the National Foreign Trade Council (NFTC) today urged President Obama to follow through on his State of the Union address pledge to strengthen trade relations with Colombia, Panama and South Korea. NFTC President Bill Reinsch released the following statement:

“By expanding market access in Panama, Colombia and South Korea, we have an opportunity to grow American exports, create U.S. jobs and generate economic opportunity for our companies, which employ millions of hard-working Americans every day.

“Global trade and the pace of international business require that the United States be aggressive in seeking new markets to sell American good and services. As our competitors seize opportunities to expand market share in these countries – displacing U.S. farmers, ranchers, service providers and manufacturers – we are standing still.

“Three years have passed since a Democratic Congress and a Republican administration agreed to a bipartisan framework for America’s trade agenda. We cannot afford to let another year pass, waiting for the most politically opportune time to consider and approve these agreements, as the economic costs of inaction grow.

“The May 10, 2007, agreement was not perfect — it included provisions that significantly weaken intellectual property rights protection for U.S. firms — but it did provide a bipartisan framework for proceeding on the U.S. trade agenda. With that, and the strong economic arguments for action, the only thing missing is political will.

“We either seize this moment to increase exports and maximize job creation, or we continue to see our market share decline as competitor nations gladly take our seat at the trading table.

“By sending these export-promoting, job-creating agreements to Congress for an up-or-down vote, the President can send a message that America is indeed open for business. Now is the time to move forward.”

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: