Statement by Bill Reinsch, President, National Foreign Trade Council
Washington DC – In the following statement, Bill Reinsch, President of the National Foreign Trade Council, praised President Bush’s announcement today that the United States will comply with the WTO panel ruling that U.S. Section 201 steel safeguard tariffs violate WTO rules, eliminating the disputed tariffs.
“Today’s announcement goes a long way in showing the world that the United States does not simply use its world leadership to ‘point its finger’ but also to abide by the rules they help to set.
“As the NFTC urged weeks ago, the U.S. today set the example for all other countries seeking to ensure an effective dispute settlement process at the WTO. The step the U.S. takes today in eliminating the tariffs demonstrates this country’s dedication to the stability and orderly function of the WTO. This is critical to encouraging better and more open trade policies throughout the world.
“Building on today’s announcement, the U.S. and the rest of the WTO member nations should now focus on ensuring the successful and timely conclusion of the Doha Round. The NFTC calls on U.S. officials to use their prominent global position to boost efforts in getting those talks back on track. The future of the WTO – and better global trade practices – depend on it.”
The National Foreign Trade Council 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 400 member companies through its offices in Washington and New York.