The Issues

WTO-OECD

The NFTC’s WTO-OECD Working Group takes a leadership role on behalf of the business community at the WTO and OECD through outreach to officials in Washington, Geneva, Paris and elsewhere.

Supply Chain Policies

Through its Supply Chain Working Group, the NFTC works with government and private sector partners to advance policies that support the resilience and stability of global supply chains.

National Security Policy

The NFTC has launched a major new initiative to provide business input to policymakers on national security issues.

Health & Environment

The NFTC believes in the importance of ensuring that trade policies support global efforts to move to a more environmentally friendly future.

Small Business & Inclusive Trade

A key component of global trade policy that works for all is ensuring that small businesses and traditionally underserved communities have access to the benefits of international trade.

Digital Trade & Frontier Technologies

NFTC has long understood and highlighted the nexus of digital and emerging new technologies with trade policy and the importance of creating forward-looking policies in these areas.

Digital Services Taxes (DSTs)

Digital Services Taxes (DSTs) are harmful taxes, mainly imposed on gross revenue, levied on multinational corporations in domestic markets where consumers access digital offerings and services.

Tariff Reform Coalition

The Tariff Reform Coalition (TRC) is a broad-based alliance of trade associations representing U.S. stakeholders adversely affected by the Section 232 and Section 301 tariffs imposed during the Trump Administration.

Trade Through the Years

May 27-28, 1914

NFTC Founded
The National Foreign Trade Council (NFTC) was founded at the first National Foreign Trade Convention in Washington, DC.

1930

Smoot-Hawley Tariff Act
Signed by President Hoover, the Act increased tariffs on foreign imports in an effort to protect domestic industry. Retaliatory tariffs followed and world trade decreased dramatically following its implementation.

1947

GATT Enters Into Effect
As a precursor to the WTO, the General Agreement on Tariffs and Trade (GATT) was one of several post-war multilateral institutions created to aid in the global trade recovery after WWII.

1962

Trade Act of 1962
Through the Trade Act of 1962, Congress granted the President the authority to cut or impose new tariffs – including under Sections 232 and 301.

1974

Trade Act of 1974
The Trade Act of 1974 created fast-track authority for trade negotiations.

1985

U.S. – Israel Free Trade Agreement Enters into Force
The U.S.-Israel FTA is the United States’ first trade agreement. Israel is currently our 24th largest goods trading partner with $34.5 billion in total trade.

1994

NAFTA Implemented
The North American Free Trade Agreement (NAFTA) created a free trade zone between the U.S., Canada and Mexico – removing most tariffs between the U.S. and two of its top trading partners.

1995

WTO Created
The WTO, the world’s largest international economic organization, succeeds the GATT. The WTO currently has 164 members representing close to 100% of world trade, and covers trade in goods and services as well as rules on Intellectual Property and other disciplines.

2020

USMCA Enters Into Force
The U.S. – Mexico – Canada Agreement (USMCA) replaced NAFTA following a two-year negotiation. The new agreement added provisions related to digital trade, anticorruption, regulatory practices and SMEs.