Category: Uncategorized

NFTC Expresses Deep Concern Over Tariff Escalation

Posted on by Joe Locher

WASHINGTON DC – National Foreign Trade Council (NFTC) Vice President for Global Trade Policy Tiffany Smith today issued a statement following the announcement of new tariffs on Mexico, Canada and an increase of tariffs on China.

“We share the Administration’s commitment to address illicit activity at our borders, whether that be the smuggling of narcotics or practices that harm companies through the violation of established rules. That said, we are deeply concerned that the President decided to move ahead with new tariffs on Canada, Mexico and China, which will raise costs for American businesses and consumers and undermine U.S. economic growth. 

“Imposing tariffs on Canada and Mexico threatens to chill a collaborative effort to strengthen our shared border and risks starting a trade war with America’s closest trading partners. 

“While we agree with concerns about illicit activity by China, escalating tariffs will continue to degrade global supply chains and increase costs for American businesses and consumers. Layering this new round of tariffs on Chinese imports creates additional headwinds and mounting costs for businesses that have little time to react or to make informed decisions on alternative sources of supply.

“We are encouraged that the Administration continues to temporarily allow for de minimis treatment of low value goods in these tariff actions to avoid doubling the cost of these everyday products for consumers and small businesses while over-burdening government resources in collecting minimal revenue at a loss.

“We share the Administration’s objective of keeping everyday prices low for Americans facing inflation, but these new tariffs run counter to that goal. We encourage the Administration to work directly with our major trading partners to deescalate the situation and quickly find a path forward to rescind these tariffs and avoid a trade war that will be costly for businesses and consumers.” 

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About the NFTC

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

Brad Wood Joins NFTC as Senior Director for Trade and Innovation Policy

Posted on by Veronica Berkshire

Washington D.C. – The National Foreign Trade Council (NFTC) announced that Brad Wood has joined the NFTC as Senior Director for Trade and Innovation Policy.

He will serve as NFTC’s lead on policy areas including environment, health, frontier technologies and intellectual property. He will also lead an effort to further deepen the Council’s relationships with the diplomatic community and bolster engagement in North America and the Indo-Pacific.

Most recently Brad served for more than a decade at the Canadian Embassy, where he advanced U.S.-Canada cooperation in support of open trade and an integrated North American market.

“Brad is going to be a great addition to the NFTC team,” said NFTC President Jake Colvin. “ His deep network of relationships throughout the hemisphere, expertise on trade and familiarity with companies’ integrated North American operations will be an asset as we help our members prepare for what’s on deck following the election.”

Brad’s full bio can be found below.

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Brad Wood
Senior Director, Trade and Innovation Policy

Brad Wood is Senior Director for Trade and Innovation Policy at the National Foreign Trade Council, the leading business association dedicated solely to advancing the interests of U.S. companies in international commerce.

Brad previously served in consecutive roles at the Embassy of Canada where he was most recently the Trade Program Manager for Innovation and Industrial Policy and the U.S. representative for Innovation, Science and Economic Development Canada. In this capacity Brad advanced Canada-U.S. cooperation bilaterally and with third countries, and worked with the Administration, Congress and business sector to ensure policies support open trade and the integrated North American market.

Prior to the Embassy, Brad worked in several capacities for the Government of Canada in Ottawa where he shaped international policy priorities, coordinated appropriations, mitigated technical barriers to trade, and represented Canada internationally, including at the World Trade Organization.

Brad holds a Master’s in International Trade from the University of Saskatchewan and a Bachelor of Business Administration with an economics double major from Brandon University.

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

Hua Wang to Lead the NFTC Foundation’s Global Innovation Forum

Posted on by Veronica Berkshire

Washington D.C. – National Foreign Trade Council (NFTC) President Jake Colvin today announced that Hua Wang will serve as the new Executive Director of the Global Innovation Forum (GIF).

As GIF’s Executive Director, Hua engages an international network of small, minority and women-led businesses, nonprofit leaders and government officials to improve the trade and digital policy landscapes.

Ms. Wang previously led a technology accelerator in Alabama and founded SmartBridge Health, a cancer telemedicine startup, through which she served as an entrepreneur-in-residence at Startup Chile, the Malaysian Global Innovation & Creativity Centre and the Halcyon Incubator. She has also previously worked at Proskauer, K&L Gates, Cisco Systems and the Kauffman Foundation.

“Hua’s experience as a founder and with the startup ecosystem gives her unique insight into the role of global markets and public policy in the success of small and early stage businesses,” said Colvin. “She is extraordinarily well-suited to grow GIF’s impact and ensure that trade and digital policies create more inclusive access to the global marketplace.”

Launched in 2009, GIF is a project of the 501(c)(3) NFTC Foundation that connects small businesses and startups with policymakers through thought leadership and forums to explore the role of technology and trade policies and programs in fostering resilience and inclusive growth.

Her full bio can be found below.

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Hua C. Wang
Executive Director, Global Innovation Forum

Hua C. Wang is Executive Director for Global Innovation Forum (GIF) at the National Foreign Trade Council Foundation. NFTC Foundation’s mission is to inspire, promote, encourage and facilitate international trade and investment in order to enhance economic growth and job creation throughout the world.

As GIF’s Executive Director, Hua engages an international network of small, minority and women-led businesses, nonprofit leaders and government officials to improve the trade and digital policy landscapes. She oversees the development and execution of GIF’s strategy to facilitate more inclusive access to the global marketplace. She amplifies the voice of innovators and entrepreneurs in public policy discussions domestically and with international organizations including the World Trade Organization and the Asia-Pacific Economic Cooperation Forum.

Hua previously led a top technology accelerator in Alabama with the 15 startups collectively raising $20 million in funding and generating $11 million in revenue. She also founded SmartBridge Health, a cancer telemedicine startup, during which time she served an entrepreneur in residence at Start-Up Chile, the Malaysian Global Innovation & Creativity Centre and the Washington, DC-based Halcyon Incubator.

Prior to entrepreneurship, Hua worked as a private equity attorney at Proskauer and K&L Gates, in-house counsel at Cisco Systems and a global scholar at the Kauffman Foundation.

After graduating from Duke University, Hua worked as an investment banking analyst at Lehman Brothers and a healthcare strategy consultant at Accenture. She is also a graduate of Northwestern University’s Pritzker School of Law.

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NFTC Statement on Tariffs on Imports of Steel and Aluminum from Mexico, Canada and the EU

Posted on by dcadmin

Washington D.C. – National Foreign Trade Council (NFTC) President Rufus Yerxa today issued the following statement regarding the Administration’s decision to impose Section 232 tariffs on imports of steel and aluminum from Mexico, Canada and the European Union.

“The NFTC is increasingly concerned about the Administration’s trade policy and what these actions, when taken as a whole, mean for the future of U.S.-based companies who depend on a functioning international trading system to succeed. The United States has greatly benefited from the existing international trading system, and we remain convinced that dealing with unfair trade practices around the world requires multilateral diplomacy, not unilateral tariffs.

“Today’s announcement that the European Union, Mexico and Canada will no longer be exempt from tariffs on imports of steel and aluminum is especially problematic. Not only are these countries among our most important trade and security allies, but they represent a significant percentage of the world’s consumers who have, until now, made the U.S. an export powerhouse.

“We continue to urge the Administration to reconsider the application of these tariffs on our trading partners and to ensure that measures intended to deal with problematic trade practices around the world comply with our international obligations.”

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About the NFTC

Serving America’s Global Businesses Since 1914– 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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