WASHINGTON D.C. – National Foreign Trade Council (NFTC) President Jake Colvin released the following statement today following the Biden administration’s announcement of joint action to revoke most favored nation treatment of Russia:
“With its move to withdraw normal trade relations, today the Biden Administration, in close concert with allies, continued to exert economic pressure on Russia to end its invasion of Ukraine. It’s moments like these that elevate the critical importance of U.S. leadership on the international stage and the value of working closely with our allies and trading partners to strengthen and modernize multilateral institutions to prepare them to face new and unexpected global challenges.
“Member States have an important decision ahead as to Russia’s role at the World Trade Organization (WTO), and we are thrilled that Maria Pagán will be an integral part of those conversations as she assumes the role of Deputy U.S. Trade Representative following her confirmation yesterday. Ambassador Pagán will play an important role in U.S. economic diplomacy during a pivotal time for the organization. We look forward to working with her and the rest of the Administration to advance American interests and values at the WTO.”
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 100 member companies through its office in Washington D.C