Category: Press Releases and Statements

NFTC Applauds Conferees for Tabling Grassley/Sanders H-1B Visa

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Washington, DC – The National Foreign Trade Council (NFTC) today released the following statement, applauding House and Senate conferees for removing the Grassley/Sanders H-1B visa fee amendment from the Labor, Health and Human Services (HHS) and Education appropriations bill conference report. NFTC President Bill Reinsch released the following statement:

 
“We applaud the House and Senate Labor-HHS appropriations bill conferees for removing the Grassley/Sanders amendment from the conference report. The amendment would have imposed an unnecessary fee on U.S. companies seeking to attract and retain the best and brightest highly skilled, foreign-born professionals through the H-1B visa program.
 
“To remain competitive in the global marketplace, U.S. employers aggressively seek out top notch talent both domestically and from all around the world. The H-1B visa program, which currently fails to keep up with market demand, is in need of reform to ensure that employers have the ability to innovate and compete with firms worldwide.
 
“The fee hike proposed in the Grassley/Sanders amendment moves in the wrong direction. The measure would have led to a financial burden on companies of all sizes that already face visa shortages, green card backlogs and other impediments that deny them access to the world’s top talent, and it would have sent the message that America is closing itself off from talented people at the very time we need them the most as we face increasing competition globally.”

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Advancing Global Commerce for Over 90 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.

NFTC Urges House to Pass Trade Adjustment Assistance Reform Bill

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Calls Legislation a Step Forward in Addressing U.S. Workers’ Concerns
 
Washington, DC – The National Foreign Trade Council (NFTC) today encouraged Members of the U.S. House of Representatives to approve H.R. 3920, the Trade and Globalization Assistance Act of 2007, being debated on the House floor this morning. NFTC President Bill Reinsch released the following statement:
 
“House passage of the H.R.3920 is an important step in the development of a national trade policy that promotes trade liberalization at the same time it addresses the concerns of the American workers who worry about losing their jobs.
 
“Everyone knows that trade promotes growth and jobs, but it also leaves victims in its wake.   Helping those that are left behind find new jobs and new careers has long been part of our trade policy but not one that we have handled well. 
 
“Although it is not without flaws, the House bill will make significant improvements in the existing TAA program, ease the anxieties of the growing number of Americans who worry about their future, and pave the way for House action on the four pending free trade agreements, which are another key part of a forward-looking trade policy.”
 
Advancing Global Commerce for Over 90 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.

NFTC Applauds Bipartisan Committee Approval of U.S.-PeruTrade Agreement

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Washington, D.C. – The National Foreign Trade Council (NFTC) today praised the House Ways and Means Committee for its overwhelming bipartisan approval (39-0) of the U.S.-Peru Trade Promotion Agreement (PTPA) during a markup held this morning. The committee’s action paves the way for a vote on the House floor as early as next week.

 
“Today’s Ways and Means Committee approval of the Peru legislation sends a clear message that there is strong bipartisan support for the trade agreement,” said NFTC President Bill Reinsch. “As the Peru agreement is the first in the series of pending agreements that implement the provisions of the May 10 agreement reached between the Administration and Congress, we urge the House to support it.”
 
“We hope that both the House and Senate will complete action on the Peru agreement within the next few days, and that Congress will then take up other important
FTAs awaiting approval,” said Mary Irace, NFTC Vice President for Trade and Export Finance.
 
The PTPA will expand market access for U.S. farmers and ranchers and open the Peruvian services sector to U.S.-based firms. In 2006, U.S. goods exports to Peru
totaled $2.9 billion, an increase of more than 25 percent from the previous year. The PTPA will allow for continued and increased market access for U.S. goods, including machinery, electronics, plastics and agricultural products.U.S. services suppliers also stand to gain in the areas of telecommunications, finance, energy, construction and transportation, among others.
 
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Advancing Global Commerce for Over 90 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.

NFTC Calls on Pennsylvania Legislators to Consider Negative Implications of Proposed Divestment Legislation

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Contends Bills Undermine U.S. Foreign Policy, Will Harm Businesses and Pensioners

Washington, DC – The National Foreign Trade Council (NFTC), a Washington, DC-based association of some 300 companies engaged in international trade and investment, today urged Members of the Pennsylvania General Assembly to reconsider bills – HB 1085, 1086 and 1087 – which could require divestment from a broad array of companies with international operations. In opposition to the proposed legislation, the NFTC sent letters to state lawmakers asking them to consider the bills’ potentially negative consequences, including that the measures undermine the federal government’s ability to conduct foreign policy, and put state pensioners and U.S. companies at undue financial risk, while having no effect on the behavior of targeted governments.”

“We’re seeing a proliferation of these measures at the State level, many of which have no regard for the level or type of business surrounding these countries of concern,” said NFTC President Bill Reinsch.”This should be alarming for any businesses engaged in international commerce and for pensioners whose retirement funds could be affected.”

“Statutes aimed at affecting foreign policy at the state and local levels – as divestment seeks to do – threaten to create a complex web of restrictions and regulations that interfere with the Constitutional rights given to the President to largely conduct foreign policy,” wrote Reinsch in a letter to Pennsylvania legislators. “Foreign policy sanctions by states not only undermine the ability of the U.S. to speak with one voice, but also frustrate cooperation with U.S. trading partners who often see them as a violation of U.S. international commitments.”

The NFTC pressed Pennsylvania lawmakers to take a closer look at ambiguous language included in the legislation, specifically the lack of well-defined criteria that would be used to identify companies targeted for divestment. “While this legislation purports to address business ties between companies and countries on the U.S. list of state sponsors of terrorism, the provisions are so broad and the legislation is so complicated as to affect hundreds of U.S. and foreign companies, including many whose supposed ties to these countries are variously tenuous, mischaracterized or legitimate under U.S. law,” Reinsch wrote.

“Most troubling, the bills appear to require divestment of investments in any company that does any amount of indirect business with targeted countries, including in instances where companies have no direct ties or contact with the offending countries. The United States will no doubt face vigorous complaints from our trading partners if it were to come into effect,” the letter reads.

The letter also argues that not only are there no clear indications for how pension fund trustees are supposed to divest, “there appears to be no transparent process for trustees to decide which companies to divest from.” The letter contends that the bills’ broad divestment provisions could cost pensioners millions of dollars in transaction costs and threaten to “eliminate entire stock classes from the pool of potential investments, narrowing State pension fund managers’ choices and increasing the overall risk to the portfolio.”

The NFTC also questioned how the state will target companies when no federal list exists, noting that even the U.S. Securities and Exchange Commission was forced to take down its own flawed list of companies.

For a full copy of the letter, please click here.

Advancing Global Commerce for Over 90 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.

USA*Engage Cautions on IRGC Designation

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Washington DC – USA*Engage Co-Chair and National Foreign Trade Council (NFTC) President William Reinsch today released the following statement in response to the announcement of sanctions on Iran’s Revolutionary Guard Corps:

“There is no question that Iran’s effort to develop a nuclear capability poses a threat to peace and stability, but the approach announced today by the administration may move us farther away from our goal of getting Iran to actually change its behavior.

“These sanctions are extraterritorial, and as such are likely to worsen relations with our allies. Given their sweeping nature, they may ultimately end up targeting hundreds of foreign companies that are doing business legally under their national laws. Their reach is so broad that they pose real challenges when it comes to connecting the dots with other companies and entities both inside and outside Iran.

“The most unfortunate element is that the Bush administration is framing this as a diplomatic initiative. In fact, they are sanctions intended to punish Iran, though their primary effect may well be on companies in third countries. As a result they are unlikely to lead to a positive diplomatic outcome. Real diplomacy means utilizing direct diplomatic channels to the government in Iran, and it means working with our allies on concerted multilateral efforts.”
 

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.

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.

USA*Engage and NFTC Call on Congress to Reconsider Unilateral Sanctions Bill Targeting Burma

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Calls “Feel Good” Sanctions Ineffective and Distracting

 

Washington, DC – USA*Engage and the National Foreign Trade Council (NFTC) today released a statement expressing concern over the House Foreign Affairs Committee’s approval of H.R. 3890, the Block Burmese JADE (Junta’s Anti-Democratic Efforts) Act of 2007, which would impose new unilateral U.S. sanctions against Burma.

 

“The need to utilize sanctions to influence the behavior of rogue governments and bad actors is a necessary tool of diplomacy, but imposing unilateral U.S. sanctions is ineffectual at best and often counterproductive. While it is clear that the United States must take a strong stand, one country alone cannot effectively limit the economic activity.  This is particularly true in Burma, where we have little leverage to begin with. Engaging other nations in efforts to pressure the regime there is by far the best diplomatic strategy to effect change,” said Bill Reinsch, NFTC President and Co-Chair of USA*Engage.

 

“The sanctions under consideration will do nothing more than make us feel good about taking a stand, while distracting efforts for real and long lasting change. It is important for Congress and the Administration to work in coordination with allied nations to combat repressive regimes if we are to achieve success in any sanctions effort,” Reinsch continued.

 

“Institutionalizing sanctions and removing the periodic approval process by Congress will make it virtually impossible for the President to adapt sanctions to changing circumstances or reward good behavior. Extending sanctions indefinitely is simply bad public policy,” said Reinsch. “We hope that in the coming weeks, Members of Congress will thoroughly review this provision and identify ways to engage our allies to effect real change for the people of Burma.”

 

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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.

 

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.

 

 

 

NFTC Urges WTO Members to Agree on Modalities this Fall: Exceptions to the General Approaches Must be Strictly Limited

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Washington DC – The National Foreign Trade Council (NFTC) today called on WTO member governments to move urgently to narrow differences and bring the Doha Round of negotiations to a prompt and ambitious conclusion. A group of 10 member companies from the NFTC just completed 3 days of meetings in Geneva with senior officials including Director-General Lamy, negotiating group chairs, ambassadors and other senior negotiators. The group was led by the co-chairs of the NFTC’s WTO project group, Mary Irace, NFTC’s Vice President, and Scott Miller, Procter & Gamble’s Director for global trade policy.

 

“The NFTC urges WTO members to reach agreement this fall on modalities to reduce distortions and liberalize trade in agricultural and industrial products, as well as to provide direction for achieving substantial results in services, trade facilitation, and on improvements to trade rules,” said Irace.

 

Miller noted, “We have concluded from our meetings this week that WTO members have reached a critical moment of decision and opportunity.” We are impressed
with the intensity of the negotiating effort in all sectors, particularly in agriculture. “However, if real progress is not achieved in the coming weeks, the opportunity may slip away, with grave risks to the prospects for concluding the Round,” added Irace.

 

The central issue for decision continues to be ensuring a meaningful level of ambition. In the core areas of NAMA and agriculture, efforts are clearly centered on the Chairs’ texts. “The Chairs’ texts provide the basis to conclude a valuable deal for NFTC Members. However, we are worried by a growing tendency, among both developed an developing countries, to look for ways to avoid the full liberalizing effect of the general formulas on their own policies. These temptations must be resisted if the outcome is to be an agreement that will generate new trade flows,” concluded Irace.

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Advancing Global Commerce for Over 90 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.

 

USA*Engage and NFTC Express Concern Over Committee Approval of Sudan Divestment Bill

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Washington DC – USA*Engage and the National Foreign Trade Council (NFTC) today released a statement expressing concern over the Senate Banking Committee’s approval of the Sudan Accountability and Divestment Act.

“The NFTC fully supports efforts to bring peace and stability to Darfur, but encouraging states and local governments to levy sanctions against Sudan is not the answer,” said Bill Reinsch, President of NFTC and Co-Chair of USA*Engage. “The Senate Banking Committee has made significant improvements in the House-passed version of the bill, but we continue to believe that it is in the best interest of the United States and our allies for the federal government to set foreign policy, not states.”

“Before taking any further action, we urge Members to take a careful look at the legislation, think through the long term implications of subcontracting foreign policy to the states, and thoroughly examine the bill’s provisions to ensure that they are in line with U.S. foreign policy objectives, and that they provide sufficient latitude to allow the President to conduct an effective foreign policy,” concluded Reinsch.

In August 2006, the NFTC brought suit against the state of Illinois, challenging the constitutionality of the state’s Act to End Terrorism and Atrocities in the Sudan. On February 23, 2007, the Federal District Court for the Northern District of Illinois to deemed the law unconstitutional. The NFTC lawsuit followed the precedent set in the U.S. Supreme Court’s 2000 decision in Crosby v. NFTC, in which the Court struck down sanctions enacted by Massachusetts on Burma.  In that decision the Court ruled that if the federal government has enacted sanctions on a country, state and local governments are preempted from imposing sanctions of their own. 

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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. 

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.