Washington D.C. – National Foreign Trade Council (NFTC) Vice President Jake Colvin today testified at a hearing held by the U.S. International Trade Commission (USITC) to inform its investigation into the economic impact of U.S. Free Trade Agreements, which is mandated by TPA legislation.
NFTC members derive substantial value from many aspects of U.S. trade agreements, but today’s testimony focused on the importance of digital trade and e-commerce provisions in WTO and FTA agreements.
During the testimony, Colvin highlighted the economic value to American businesses of trade commitments that enable businesses and consumers abroad to access an e-commerce ecosystem, including payments, shipping, social and productivity tools. He also explored the importance of prohibitions on customs duties on electronic transmissions, the Information Technology Agreement, and trade facilitation commitments to American export interests.
“Free trade agreements are most economically significant where they foster this entire ecosystem, enabling businesses to choose from their preferred global digital tools and services,” said Colvin. “Digital trade commitments in trade agreements are especially important during the pandemic as American small businesses are increasingly reliant on digital tools to access international markets that serve as an economic lifeline.”
To read the full testimony, click here.
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 its member companies through its office in Washington D.C.