Conference to Shed New Light on 21st Century Trade Policy Challenges

U.S. Trade Representative Michael Froman will deliver keynote remarks at the October 30 conference, “Exploring New Approaches to Trade, Investment and Jobs: Insight and Impact for Business from the OECD.”
U.S. Trade Representative Michael Froman at the Oct. 30 conference: “Exploring New Approaches to Trade, Investment and Jobs: Insight and Impact for Business from the OECD.”

Washington, D.C., October 16, 2014 – How are cross-border trade and investment changing in an era of ever-more sophisticated global value chains? What new policies and agreements are needed to ensure that trade and investment can generate high-quality jobs and other benefits to society? And how can new research from the Organization for Economic Cooperation and Development (OECD) shed light on these changes and provide insight for policy makers?

These will be among the central questions addressed at a timely, high-level conference, “Exploring New Approaches to Trade, Investment and Jobs: Insight and Impact for Business from the OECD,” to be held October 30 at the St. Regis Hotel in Washington, D.C. Organized by the USCIB Foundation (the educational arm of the United States Council for International Business), the OECD and BIAC, the Business and Industry Advisory Committee to the OECD, the conference will highlight the OECD’s innovative work in the areas of trade and investment, and address how this work impacts policy, job creation and trade negotiations around the world.

“It’s clear that a 21st-century trade policy must address a host of new concerns beyond ‘old-school’ issues like tariffs and quotas,” said USCIB President and CEO Peter Robinson. “While those types of trade barriers still exist, their importance is fast being eclipsed by the growth of global value chains, barriers to trade in services, new investment agreements, trade facilitation, and the relationship between regional and multilateral trade negotiations.”

The event will bring together experts from the OECD, U.S. and foreign governments, and business to assess the issues and discuss solutions. Participants will draw upon the innovative research and policy discussions coming from the OECD – including its Services Trade Restrictiveness Index, OECD-WTO efforts to measure trade in value-added, and studies on the importance of global value chains.

Keynote remarks at the conference will be delivered by U.S. Trade Representative Michael Froman. Other speakers include:

  • Cathy Novelli, under secretary for economic growth, energy and the environment, U.S. Department of State
  • Mari Kiviniemi, deputy secretary general, OECD, former prime minister of Finland
  • Yonov Frederick Agah, deputy director general, World Trade Organization
  • Ambassador Susan Schwab, strategic advisor, Mayer Brown, former U.S. trade representative
  • Harold McGraw III, chairman of McGraw Hill Financial [now S&P Global], chairman of the International Chamber of Commerce (ICC), chairman of USCIB
  • Ken Ash, director, Trade and Agriculture Directorate, OECD
  • The Honorable James Bacchus, chair of Greenberg Traurig’s global practice, former chairman  of the WTO Appellate Body, and chairman of the ICC Commission on Trade and Investment Policy
  • Phil O’Reilly, CEO of Business New Zealand, chairman of BIAC.

More information about the conference is available here.

About USCIB:
USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and regulatory coherence. Its members include U.S.-based global companies and professional services firms from every sector of our economy, with operations in every region of the world. With a unique global network encompassing leading international business organizations, including BIAC, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment. More at www.uscib.org.

ContactJonathan Huneke, USCIB

+1 212.703.5043, jhuneke@uscib.org

USCIB Deeply Disappointed by Failure to Implement WTO Trade Facilitation Agreement

WTO logoWashington, D.C., July 31, 2014 – The United States Council for International Business (USCIB) expressed dismay at the failure of World Trade Organization members to begin implementing the landmark WTO Trade Facilitation Agreement (TFA). Final agreement on a protocol to implement the TFA was blocked by objections from India and a few other developing countries.

“This is incredibly disappointing, a huge blow to prospects for continued global recovery, most notably in the least-developed countries,” said USCIB Senior Vice President for Policy and Government Affairs Rob Mulligan. “Implementing the TFA could have significantly boosted economic growth by adding $1 trillion to the global economy, and creating as many as 21 million jobs, 18 million of those in developing countries.”

Mulligan added: “This failure undercuts the credibility of the World Trade Organization. It also will put a halt to efforts led by Director General Azevedo to develop a post-Bali work plan for completing the Doha negotiations. We hope the governments can find a way to resurrect the Trade Facilitation Agreement and somehow get the WTO back on track.”

Earlier this week, USCIB President CEO Peter Robinson sent a letter to U.S. Trade Representative Michael Froman expressing deep concern over developments at the WTO. This followed urgent action by the International Chamber of Commerce (ICC) and its global network to highlight the adverse consequences of missing the deadline to implement the TFA, and an appeal to G20 trade ministers by USCIB and other U.S. business groups urging swift implementation of the TFA.

About USCIB:

USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and regulatory coherence. Its members include U.S.-based global companies and professional services firms from every sector of our economy, with operations in every region of the world. With a unique global network encompassing leading international business organizations, including ICC, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment. More at www.uscib.org.

Contacts:
Jonathan Huneke, USCIB
+1 212.703.5043, jhuneke@uscib.org

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Eva Hampl Joins USCIB as Director of Investment Trade and Financial Services

Eva Hampl
Eva Hampl

New York, N.Y., May 13, 2014Eva Hampl, an attorney and former Senate staffer, has joined the United States Council for International Business (USCIB) as director of investment, trade and financial services. She will be based in the organization’s Washington, D.C. office.

“We’re happy to welcome Eva to our trade and investment team,” said USCIB President and CEO Peter M. Robinson. “She brings valuable knowledge and experience in treaties and regulations affecting cross-border commerce. This will help us bolster USCIB’s leadership position in investment, trade and financial services.”

Hampl will work with Shaun Donnelly, USCIB’s vice president of investment and financial services, to coordinate the organization’s activities on cross-border investment and global finance. She will manage work in those areas by engaging with the U.S. government and working through USCIB’s global business network: the International Chamber of Commerce (ICC), the International Organization of Employers (IOE) and the Business and Industry Advisory Committee (BIAC) to the OECD. Hampl will also support Robert Mulligan, senior vice president for policy and government affairs, on trade policy issues.

USCIB advocates for opening global markets by eliminating barriers to trade and investment, and promotes polices that spur sustainable, market-led economic growth that contributes to job creation in the United States and around the world. By providing innovative thinking on cross-border investment and financial services, USCIB helps build industry consensus for positions that facilitate international business.

Hampl recently completed a fellowship with GE’s Global Government Affairs and Policy division, and she has served as a trade associate with the U.S. Senate Committee on Finance. She also interned with the trade section of the European Union delegation to the United States, and she served as a law clerk to the Connecticut Superior Court.

With a background in investment and trade law, Hampl holds a master’s of law in international and comparative law from The George Washington University Law School, as well as a law degree from Suffolk University Law School.

About USCIB:

USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and regulatory coherence.  Its members include U.S.-based global companies and professional services firms from every sector of our economy, with operations in every region of the world.  With a unique global network encompassing leading international business organizations – including ICC, IOE and BIAC – USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment. More at www.uscib.org.

Contact:

Jonathan Huneke, USCIB

(212) 703-5043 or jhuneke@uscib.org

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Launch of Talks to Free Up Trade in Green Tech Applauded

4664_image002New York, N.Y., January 24, 2014 – The United States Council for International Business (USCIB) applauded announcement of a new initiative by the United States and key trading partners to boost trade in environmental goods and services (EGS) through the World Trade Organization. It said the positive step would build on the recent “Bali package” of trade liberalization measures as well as commitments in the APEC (Asia-Pacific Economic Cooperation) forum.

USCIB President and CEO Peter Robinson welcomed the announcement and U.S. Trade Representative Michael Froman’s continuing leadership in this area. “USCIB members agree that moving towards greener economic growth will depend on the widespread deployment of innovative technologies and management systems through more open trade, whether to address climate risks, improve food, water and energy security or offer cleaner goods to consumers in developing countries,” he said.

Robinson went on to say that, “We should seize this opportunity to liberalize trade in a strategic sector. At the same time, USCIB is strongly aware of the need to remove trade barriers for many other resources and products that are integral parts of the global supply and value chains behind EGS.”

Working with the International Chamber of Commerce (ICC) and other international business partners, USCIB has advocated ambitious outcomes in the WTO, TPP, TTIP and APEC deliberations, and continues to highlight the benefits that multilateral trade and investment render to the U.S. economy.

USCIB urges governments to pursue initiatives that would increase the benefits offered by yesterday’s announcement via ongoing dedication to trade liberalization across the board and reaching a comprehensive multilateral agreement on climate change that involves all major emitters next year in Paris.

About USCIB: USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and regulatory coherence.  Its members include U.S.-based global companies and professional services firms from every sector of our economy, with operations in every region of the world.  With a unique global network encompassing leading international business organizations, including ICC, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment. More at www.uscib.org.

Contact: Jonathan Huneke, USCIB
+1 212.703.5043, jhuneke@uscib.org

More on USCIB’s Trade and Investment Committee

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USCIB Welcomes Trade Promotion Authority Bill

4656_image001New York, N.Y., January 9, 2014 – The United States Council for International Business (USCIB) applauded the introduction today of bipartisan legislation to re-establish Trade Promotion Authority (TPA) by Senate Finance Committee Chairman Max Baucus, Ranking Member Orrin Hatch, and House Ways and Means Committee Chairman Dave Camp.

“TPA is essential for the United States to capitalize on new, market-opening agreements with Asia, Europe and other key trading partners,” said USCIB President and CEO Peter Robinson. “Trade delivers better jobs and faster growth. But we won’t be able to complete or implement these pacts without Trade Promotion Authority. So we urge the Congress to act swiftly to pass this legislation.”

Last year, USCIB joined leading business groups in founding the Trade Benefits America Coalition (www.tradebenefitsamerica.org), an effort to educate on the benefits of U.S. trade agreements and advocate for passage of TPA. The coalition is actively working with Congress and the Obama administration, and engaging with state and local officials across the country, to get the facts out about the benefits of trade and build support for TPA.

Robinson cited important progress on several recent trade pacts – including the Trans-Pacific Partnership, the Transatlantic Trade and Investment Partnership, and last month’s breakthrough “Bali Package” in the World Trade Organization – as adding urgency to the need to re-establish TPA, which every president since FDR has enjoyed but which lapsed in 2007.

“The U.S. can compete and win in the global economy, but not with our hands tied behind our back,” said Robinson. “We need TPA, and we need it now.”

About USCIB:
USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and regulatory coherence. Its members include U.S.-based global companies and professional services firms from every sector of our economy, with operations in every region of the world. With a unique global network, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment. More at www.uscib.org.

Contact:
Jonathan Huneke, USCIB
+1 212.703.5043, jhuneke@uscib.org

More on USCIB’s Trade and Investment Committee

USCIB Welcomes Progress on Pacific Trade Talks

U.S. Trade Representative Michael Froman (second from right) with other TPP trade ministers in Singapore
U.S. Trade Representative Michael Froman (second from right) with other TPP trade ministers in Singapore

New York, N.Y., December 10, 2013 – The United States Council for International Business (USCIB) today congratulated U.S. Trade Representative Michael Froman and negotiators from the other Trans-Pacific Partnership countries on making substantial progress in the latest round of TPP talks just concluded in Singapore.

“The Trans-Pacific Partnership is  an essential element in expanding our access to fast-growing markets in the Asia-Pacific region, which will spur economic growth and job creation,” said USCIB President and CEO Peter Robinson. “We encourage negotiators to continue striving for  a comprehensive, high-standards trade and investment agreement.”

In a joint statement earlier today, negotiators said: “For all TPP countries, an ambitious, comprehensive and high-standard agreement that achieves the goals established in Honolulu in 2011 is critical for creating jobs and promoting growth, providing opportunity for our citizens and contributing to regional integration and the strengthening of the multilateral trading system.”

Robinson urged the TPP governments to intensify their efforts in January with the goal of wrapping up negotiations as soon as possible. “We in the business community are committed to helping our governments conclude an ambitious agreement in short order,” he said.

In addition to the United States, the TPP talks encompass Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.

About USCIB:

USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and regulatory coherence. Its members include U.S.-based global companies and professional services firms from every sector of our economy, with operations in every region of the world. With a unique global network, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment. More at www.uscib.org.

Contact:
Jonathan Huneke, USCIB
+1 212.703.5043, jhuneke@uscib.org

More on USCIB’s Trade and Investment Committee

USCIB Hails Breakthrough Adoption of WTO Bali Package

USCIB Chairman Terry McGraw, who also chairs the International Chamber of Commerce, congratulated governments on adoption of a new package of trade liberalization measures
USCIB Chairman Terry McGraw, who also chairs the International Chamber of Commerce, congratulated governments on adoption of a new package of trade liberalization measures

New York, N.Y., December 7, 2013 – The United States Council for International Business (USCIB) applauded the adoption of an ambitious package of trade liberalization measures by World Trade Organization members at the WTO ministerial in Bali, Indonesia today.

”WTO members have delivered a dose of holiday cheer to a struggling global economy,” said USCIB President and CEOPeter Robinson. “We congratulate ministers on making the tough choices necessary to push this package of agreements past the finish line. They have demonstrated once again the critical importance of multilateral trade liberalization.”

Expectations ahead of the Bali meeting were low, said Robinson, in light of the inability of WTO members to agree to a package in preliminary meetings in Geneva last month, leaving the tough decisions for trade ministers. But he said the business community did not give up hope, and indeed redoubled its efforts to push governments toward an agreement. Robinson said the result – a set of agreements to, among other things, facilitate global trade through modernization of  customs and other administrative practices – “will add billions of dollars to global GDP and create millions of jobs.”

A major business push came from the International Chamber of Commerce (ICC), which earlier this year estimated that a trade facilitation agreement alone would deliver global job gains of 21 million, with developing countries gaining more than 18 million jobs and developed countries increasing their workforce by three million.

“With our help, 159 countries came together to reach a trade facilitation agreement that will boost the world’s economy by almost one trillion U.S. dollars,” said ICC Chairman Terry McGraw, who also serves as USCIB’s chairman, in a video message to governments and ICC members worldwide. “What an accomplishment! And the good news is everyone participated.”

McGraw said the agreement “breaks through the logjam that has bottled up trade agreements for the last decade, and paves the way for future agreements that will further increase global growth and job creation.”

The business community, already rallying in support of renewed Trade Promotion Authority as well as prospective U.S. trade pacts with 12 Asia-Pacific nations and the European Union, will push hard for adoption of the Bali package by Congress, according to USCIB Senior Vice President Rob Mulligan, who attended the Bali ministerial and who spearheads USCIB’s Washington-based activities. “We in the private sector are united in our support for this agreement, and for additional action to spur jobs and growth through international trade,” he said.

About USCIB:

USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and regulatory coherence. Its members include U.S.-based global companies and professional services firms from every sector of our economy, with operations in every region of the world. With a unique global network encompassing leading international business organizations, including ICC, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment. More at www.uscib.org.

 

Contact:
Jonathan Huneke, USCIB
+1 212.703.5043 (office), +1 917.420.0039 (mobile), jhuneke@uscib.org

More on USCIB’s Trade and Investment Committee

An Early Harvest on Trade That Could Boost Jobs and Growth

Former World Bank President and U.S. Trade Representative Robert Zoellick spoke at the event.
Former World Bank President and U.S. Trade Representative Robert Zoellick spoke at the event.

Washington, D.C., June 17, 2013 – As G8 leaders gather in Northern Ireland for their annual summit, expanding trade will be high on the agenda. To spur discussion of concrete steps that could be taken to revive global trade and investment, the Peterson Institute for International Economics joined with and the International Chamber of Commerce (ICC) to hold a June 14 discussion in Washington, “Payoff from the World Trade Agenda.”

Robert B. Zoellick, former president of the World Bank and former U.S. trade representative, provided keynote remarks. Zoellick applauded the ICC initiative as “a great pathway” to expanded trade in a world where global output is now evenly split between developed and developing countries, and where significant South-South trade barriers still remain.

The event was held in partnership with the United States Business Council for International Business (USCIB), which serves as ICC’s American national committee, and the Center for Strategic and International Studies.

The Peterson Institute report, written by Gary Clyde Hufbauer and Jeffrey J. Schott, takes a fresh look at the Doha Round trade negotiations, and assesses the potential payoffs from seven agreements that could be revived and advanced in 2013 and entered into force as early as 2015. If all seven agreements were ratified, global gains could be substantial: export gains over $2 trillion, 34 million jobs supported, and global GDP gains of $2 trillion.

Incoming ICC Chairman Terry McGraw, CEO of McGraw-Hill Financial and also chairman of USCIB, said the report showed how important trade is to sustained global economic recovery. He said business leaders would strongly endorse the trade agenda with G20 leaders at this year’s summit in Saint Petersburg, Russia, and with WTO trade ministers in advance of their December ministerial in Bali, Indonesia.

USCIB President and CEO Peter Robinson cited the new report and recent OECD work on trade in value-added as underscoring the wisdom of securing multilateral solutions in a world of highly integrated, multi-country global value chains. He noted that imports now constitute some 40 percent of the value of exported goods globally, making import barriers in essence a tax on exports.

The Peterson report looks at potential trade, output and employment gains from the following elements in ICC’s World Trade Agenda:

  • concluding a WTO trade facilitation agreement
  • negotiating a new services plurilateral
  • expanding trade in information technology
  • implement duty-free and quota-free market access for exports from least-developed countries phasing out agricultural export subsidies
  • renouncing food export restrictions.

The report concludes that by simplifying customs procedures – through trade facilitation measures – alone, WTO member countries would deliver global job gains of 21 million, with developing countries gaining more than 18 million jobs and developed countries increasing their workforce by three million.

Providing a business perspective on the Peterson Institute report at the June 14 event were James Bacchus of Greenberg Traurig, a former Congressman and former chair of the WTO appellate body who now chairs ICC’s Trade and Investment Commission, Charles Johnston of Citi, chair of USCIB’s Trade and Investment Committee, and Scott Miller of the Center for Strategic and International Studies. For video and audio from the June 14 event, go to http://www.iie.com/events/event_detail.cfm?EventID=287.

For more information on the ICC World Trade Agenda, please visit http://www.iccwbo.org/global-influence/world-trade-agenda/.

About USCIB:
USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and regulatory coherence. Its members include U.S.-based global companies and professional services firms from every sector of our economy, with operations in every region of the world. With a unique global network encompassing leading international business organizations, including ICC, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment. More at www.uscib.org.

Contact:
Jonathan Huneke, USCIB
+1 212.703.5043, jhuneke@uscib.org

More on USCIB’s Trade and Investment Committee

USCIB Hails Launch of U.S.-EU Trade and Investment Talks

L-R: European Council President Van Rompuy, President Obama, European Commission President Barroso, UK Prime Minister Cameron.
L-R: European Council President Van Rompuy, President Obama, European Commission President Barroso, UK Prime Minister Cameron.

New York, N.Y., June 17, 2013 – The United States Council for International Business (USCIB) applauded today’s announcement at the G8 Summit in Lough Erne, Northern Ireland that the United States and the European Union have launched negotiations for a Transatlantic Trade and Investment Partnership (TTIP).

“The European Union is our biggest export market, while the transatlantic investment relationship is the largest in the world, but there are plenty of additional opportunities if we play our cards right,” said USCIB President and CEO Peter Robinson.

“TTIP has the capacity to provide a big boost to our competitiveness, economic growth, and jobs here at home, and can jump-start other trade liberalization efforts at the regional and multilateral levels.”

According to the White House, the initial round of U.S.-EU talks is set to begin in Washington on July 8. It said TTIP will aim to further open EU markets, strengthening rules-based investment to grow the world’s largest investment relationship, while eliminating all tariffs on trade, improving market access for trade in services and tackling costly “behind the border” non-tariff barriers that impede the flow of goods, including regulatory impediments.

Last month USCIB submitted a report on TTIP to the U.S. Trade Representative’s office detailing recommended negotiating objectives in a variety of areas. Earlier this month, USCIB organized a roundtable in New York on the stakes for business in the TTIP negotiations.

Robinson said USCIB would work with fellow industry groups and the U.S. Trade Representative’s office to ensure that American industry views are front and center in the negotiations. USCIB is on the steering committee of the recently launched Business Coalition for Transatlantic Trade.

About USCIB:
USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and regulatory coherence. Its members include U.S.-based global companies and professional services firms from every sector of our economy, with operations in every region of the world. With a unique global network encompassing leading international business organizations, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment. More at www.uscib.org.

Contact:
Jonathan Huneke, USCIB
+1 212.703.5043, jhuneke@uscib.org

More on USCIB’s Trade and Investment Committee

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G20 Is Responding to Business Concerns but Could Do Better

4508_image002Paris and New York, May 13, 2013 – The G20 is responding to business concerns, but needs to further improve its performance in order to maintain momentum in the global economic recovery, according to a new report from the International Chamber of Commerce (ICC).

The second annual ICC G20 Business Scorecard, issued halfway through Russia’s presidency of the G20, was released by the Paris-based ICC and its American national committee, the United States Council for International Business (USCIB).

The scorecard assesses four policy areas that ICC’s G20 Advisory Group considers priorities for G20 attention: trade and investment, financing for growth and development, energy and environment, and anti-corruption.

Overall, the scorecard rates G20 responsiveness to business priorities as “fair,” indicating that G20 leaders are making progress but at a somewhat protracted pace. This is an improvement on the score from the 2012 scorecard, which rated overall progress as “poor.”

“It is encouraging to see the G20 making progress towards addressing business priorities, and this is reflected in an improved grade over last year,” said ICC Secretary General Jean-Guy Carrier. “However, this year’s mixed results indicate the G20 needs to do more to fulfill its self-defined role for leading the global economic recovery. Jobs and economic growth are in the balance.”

The ICC G20 Business Scorecard – which examines developments on business recommendations through to the end of the 2012 Mexican G20 presidency – measures progress on business priorities on a scale of:”‘inadequate,” “poor,” “fair” or “good.” It indicates that progress has been steady but limited, partially due to an unavoidable but distracting focus on responding to the on-going eurozone crisis.

Despite the “fair” overall score, the scorecard marks good performances in some policy areas. Notable areas of progress include a strengthened dialogue between business and the G20 on anti-corruption and steps taken under the Mexican G20 presidency to improve financial inclusion.

USCIB Chairman Terry McGraw (chairman, president and CEO, McGraw-Hill Financial) is among the members of the ICC G20 Advisory Group. McGraw will take the reins as chairman of ICC in July.

Click here for a longer version of this news release on ICC’s website, with additional tables from the ICC G20 Business Scorecard and background on other elements that were assessed.

About USCIB:
USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and regulatory coherence. Its members include U.S.-based global companies and professional services firms from every sector of our economy, with operations in every region of the world. With a unique global network encompassing leading international business organizations, including ICC, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment. More at www.uscib.org.

Contact:
Jonathan Huneke, USCIB
+1 212.703.5043, jhuneke@uscib.org

Download the full ICC G20 Business Scorecard

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