Press Release Archives

USCIB Applauds Nomination of Froman as U.S. Trade Representative

Published on May 2, 2013
Michael Froman (left) and USCIB Chairman Terry McGraw (right), with Matt Goodman of the Center for Strategic and International Studies, at a 2012 briefing in Washington
Michael Froman (left) and USCIB Chairman Terry McGraw (right), with Matt Goodman of the Center for Strategic and International Studies, at a 2012 briefing in Washington

New York, N.Y., May 2, 2013 – The United States Council for International Business (USCIB) welcomed President Obama‘s nomination of Michael Froman as U.S. Trade Representative, calling it a positive sign for renewed U.S. leadership on trade at a critical time for our economy.

“This is an excellent choice,” said USCIB President and CEO Peter M. Robinson. “Michael Froman has been a positive force for trade within the Obama administration, and is well respected in the business community. His nomination could not come at a better time, as the U.S. begins trade and investment talks with the European Union and pursues the Trans-Pacific Partnership.”

Robinson continued: “We urge the Senate to confirm Mr. Froman’s nomination as soon as possible. On our side, we will be working hard to provide input to USTR on top trade priorities, and to encourage overseas industry and government positions consistent with U.S. trade objectives.”

USCIB Chairman Terry McGraw (chairman, CEO and president of McGraw Hill Financial Inc.), also praised the nomination. “As Chairman of President Obama’s Advisory Committee on Trade Policy and Negotiations, I warmly welcome the appointment of Mike Froman as the next U.S. Trade Representative,” said McGraw, who was recently elected chairman of the International Chamber of Commerce.

“He is ideally qualified to lead us to completion of the Trans Pacific Partnership Agreement and steer us to successful negotiation of the US-EU trade initiatives, the Trade in Services Agreement and continue USTR’s strong support for an active US trade and investment agenda,” McGraw added.

USCIB has laid out an ambitious 2013 trade and investment agenda, which focuses on completing trade agreements in Asia and Europe, moving forward on bilateral investment treaties with key emerging markets, revitalizing work in the World Trade Organization, and addressing new emerging regulatory challenges that can serve as impediments to open trade and investment.

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 the International Chamber of Commerce, the International Organization of Employers and the Business and Industry Advisory Committee to the OECD, 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

Business Welcomes Adoption of Russia Trade Bill

Published on December 6, 2012

4411_image001New York, N.Y., December 6, 2012 – The United States Council for International Business (USCIB) applauded today’s passage by the Senate of legislation to establish permanent normal trade relations (PNTR) with Russia.

“We welcome the Senate’s approval and urge President Obama to sign the measure as soon as possible,” said USCIB President and CEO Peter M. Robinson. “Since Russia joined the World Trade Organization in August, American companies have been at a competitive disadvantage in this important and fast-growing market.”

Once signed, the PNTR bill will sweep away outdated trade restrictions imposed on the then-Soviet Union in the 1970s under the Jackson-Vanik amendment. Russia is the world’s ninth-largest economy, but ranks only 31st as a market for U.S. goods exports.

With Russia also looking to join the Organization for Economic Cooperation and Development (OECD), the business community is looking to work with the U.S. government and others to further open Russia’s economy to foreign trade and investment, Robinson 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, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment. More information is available at www.uscib.org.

More on USCIB’s Trade and Investment Committee

More on USCIB’s Emerging Markets Committee

USCIB Applauds House Passage of Russia Trade Bill

Published on November 16, 2012

4405_image001New York, N.Y., November 16, 2012 – The United States Council for International Business (USCIB) welcomed the House of Representatives’ passage today of legislation to establish permanent normal trade relations (PNTR) with Russia.

“This is a long-overdue step to secure U.S. access to the growing Russian marketplace,” said USCIB President and CEO Peter M. Robinson. “Russia joined the World Trade Organization in August, and in the intervening time, U.S. companies have been at a competitive disadvantage as the country opens up new opportunities for foreign trade and investment. We urge the Senate to swiftly approve PNTR legislation.”

Passage of PNTR is required to lift trade restrictions on Russia under the 1970s-era Jackson-Vanik amendment, which has been deemed to violate WTO rules.

Robinson noted that Russia is also taking steps to join the 34-nation Organization for Economic Cooperation and Development (OECD), which would entail additional steps to open Russia to foreign trade and investment. Through its membership in BIAC, the Business and Industry Advisory Committee to the OECD, USCIB is working to advise the OECD and its member governments on appropriate terms for Russian entry into the organization, and is assessing the potential impact for U.S. business.

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 information is available at www.uscib.org.

More on USCIB’s Trade and Investment Committee

More on USCIB’s Emerging Markets Committee

New Portal Showcases Benefits of Open Markets for FDI

Published on October 16, 2012

4394_image001New York, N.Y., October 16, 2012 – The United States Council for International Business (USCIB) today joined with six other business associations to launch a new online information clearinghouse, Investment Policy Central, highlighting the importance of an open climate for foreign direct investment in driving U.S. economic growth, trade and jobs.

“USCIB has long been a leading voice for open investment policies, on both inward and outward FDI flows,” stated USCIB President and CEO Peter M. Robinson. “We are excited about this new website as way to spread our message, and those policies, more widely.”

Investment Policy Central is now live at www.investmentpolicycentral.com.

The business groups said Investment Policy Central will serve as a center of excellence for the most accurate, up-to-date information on the benefits of an open international investment climate. The site presents facts and figures on investment, highlights the benefits of global investment, debunks common investment myths and provides links to a wide range of resources on investment policy.

Investment Policy Central will feature timely, relevant content from experts on investment policy. Site organizers said they would welcome suggestions and input from companies, associations, organizations, think tanks, academics and other individuals interested in promoting an open international investment climate.

One of USCIB’s initial contributions to the site is an overview of recently updated guidelines for international investment from the International Chamber of Commerce (ICC), the worldwide business body that is part of USCIB’s global network. The ICC guidelines elaborate a number of steps both governments and companies can take to ensure maximum benefits from international investment.

“USCIB will continue to lead a strong advocacy and education effort on behalf of open investment policies,” Robinson said. “Our message is simple: FDI, both inward and outward, is good for the U.S. economy, for our competitiveness in today’s global marketplace, for U.S. companies and for U.S. jobs.”

The United States is the world’s leading investor nation as well as the largest host country for foreign direct investment. Overall, global inward investment flows now approach $1.2 trillion, and sales of affiliates worldwide are just under $30 trillion, far in excess of world trade flows.

In addition to USCIB, the partner associations in the Investment Policy Central initiative include the Coalition of Services Industries, Emergency Committee for American Trade, National Center for APEC, National Foreign Trade Council, Organization for International Investment and U.S. Chamber of Commerce.

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.

More on USCIB’s Trade and Investment Committee

Business Strongly Supports Bill to Raise Customs Duty Threshold

Published on September 24, 2012

stop sign military customsNew York, N.Y., September 24, 2012 – The United States Council for International Business (USCIB) has joined 27 companies and business associations in applauding a new bill in the U.S. Senate that would raise the minimum value at which customs duties are imposed on imported goods, calling it a major step forward that would facilitate trade, and a boon to both large and small companies.

The bill, S. 3597, was introduced on September 20 by Senators John Thune (R. – S.D.) and Ron Wyden (D. – Or.).  It would raise the “de minimis” value, which is the monetary value below which shipments entering the United States are free from tariffs, taxes or formal customs procedures, to $800 from the current level of $200.

“Raising de miminis levels helps foster trade, and the jobs that come with it,” stated USCIB President and CEO Peter M. Robinson. “This bill clearly deserves strong support on its own merits, but we are especially pleased at the timing. It will reinforce efforts to raise de minimis levels overseas, something we are actively pursuing through the APEC forum and other channels.” He noted that de minimis levels abroad were sometimes even lower than the current U.S. level.

In their statement, the business groups noted that, in addition to promoting faster border clearance for low-value shipments, a higher de minimis level would allow customs officers-ud-736-UD-736 to focus enforcement efforts on urgent priorities like ensuring product safety and protecting intellectual property. It would also benefit small businesses by reducing the burden associated with importing low-value goods as well as international retail returns. Furthermore, the legislation would have no impact on security, since all shipments entering the United States undergo a security review regardless of value.

The U.S. de minimis level has been held at $200 for nearly 20 years, while the Consumer Price Index has risen some 60 percent over that same period. A companion bill in the House of Representatives, introduced by Rep. Aaron Schock (R. – Ill.), has garnered the support of 142 other legislators from both sides of the aisle.

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 information is available at www.uscib.org.

Contact:
Jonathan Huneke, VP communications, USCIB
(212) 703-5043 or jhuneke@uscib.org

More on USCIB’s Customs and Trade Facilitation Committee

More on USCIB’s Trade and Investment Committee

Business Cheers as Senate Panel Green-Lights Russia Trade Bill

Published on July 19, 2012

capitolNew York, N.Y., July 19, 2012 – The United States Council for International Business (USCIB) welcomed the Senate Finance Committee’s approval of legislation to establish permanent normal trade relations (PNTR) with Russia.

“This is a critical first step in securing U.S. access to an important emerging market,” said USCIB President and CEO Peter M. Robinson.  “As Russia joins the World Trade Organization, it is opening up many new opportunities for foreign trade and investment, but the U.S. will miss out on these and be at a disadvantage versus our competitors if we do not adopt PNTR.  We urge swift consideration by the full Senate, and passage by both houses of Congress before the August recess.”

Russia’s upper house of parliament has voted to ratify entry into the WTO.  The country will become the WTO’s 156th member 30 days after Russian President Vladimir Putin approves the measure, and will begin cutting import tariffs and opening up large sectors of its economy to foreign investment.  Passage of PNTR is required to lift trade restrictions on Russia under the 1970s-era Jackson-Vanik amendment, which have been deemed to violate WTO rules.

Robinson noted that Russia is also taking steps to join the 34-nation Organization for Economic Cooperation and Development (OECD), which would entail additional steps to open Russia to foreign trade and investment.  Through its membership in BIAC, the Business and Industry Advisory Committee to the OECD, USCIB is working to advise the OECD and its member governments on appropriate terms for Russian entry into the organization, and is assessing the potential impact for U.S. business.

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 information is available at www.uscib.org.

Contact:

Jonathan Huneke, VP communications, USCIB
(212) 703-5043 or jhuneke@uscib.org

More on USCIB’s Trade and Investment Committee

More on USCIB’s Emerging Markets Committee

USCIB Urges USTR to Deny Ecuador Access to ATPA Preference Benefits

Published on July 2, 2012

Washington, D.C., July 2, 2012 – The United States Council for International Business (USCIB) has strongly supported the U.S. Government’s network of trade preference programs to accord qualifying developing countries duty-free access into the U.S. market.  We believe that these preference programs have, over time, shown their value to U.S. consumers, to U.S. manufacturers seeking inputs, and to the beneficiary nations.  But we have always seen these unilateral U.S. programs, including the Generalized System of Preferences (GSP), the Andean Trade Preference Act (ATPA), and the African Growth and Opportunity Act (AGOA) as conditional programs, not an entitlement.  We believe that beneficiary countries’ eligibility for these preference programs is appropriately conditioned under U.S. law and regulation on meeting the eligibility criteria.

In this regard, while we at USCIB are generally pleased with the reports the Office of the United States Trade Representative sent to the Congress last Friday, June 29, we are quite concerned with the USTR determination to maintain access to ATPA trade preference benefits for the Government of Ecuador.   With Peru and Colombia now moving up to full Free Trade Agreement partner status, Ecuador is the sole potential recipient of ATPA preferences going forward.  Yet, in recent years, the Government of Ecuador has flaunted international and ATPA standards in key areas of rule-of-law and respect for arbitral awards.  We appreciate that USTR has pointed out at some length these failings of the Government of Ecuador in their annual report to Congress last Friday.  But we are disappointed that USTR has, nonetheless, opted to maintain Ecuador’s access to ATPA preference benefits.  We urge that the Administration and the Congress reconsider this decision.  It is inappropriate to reward the Government of Ecuador for its behavior in these key areas with preferential access to our market.  Ecuador should only obtain these benefits by coming into compliance with the eligibility criteria in the ATPA statute.

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 information is available at www.uscib.org.

Contact:
Jonathan Huneke, VP communications, USCIB
(212) 703-5043 or jhuneke@uscib.org

More on USCIB’s Trade and Investment Committee

USCIB Welcomes Inclusion of Canada and Mexico in Pacific Trade Talks

Published on June 19, 2012
Canadian Prime Minister Stephen Harper and President Obama in Los Cabos, Mexico
Canadian Prime Minister Stephen Harper and President Obama in Los Cabos, Mexico

Los Cabos, Mexico, June 19, 2012 – The United States Council for International Business (USCIB) applauds the announcement that Canada and Mexico have been invited to join the negotiations on a Trans-Pacific Partnership (TPP) agreement to open up trade and investment to drive economic growth and job creation in the Pacific region. USCIB President and CEO Peter M. Robinson issued the following statement from Los Cabos, where he attended the B20 business meetings as part of  this week’s G20 Summit:

 

“This is a very welcome development. We applaud the United States and the other countries involved in the TPP negotiations for finding a way to bring these two major economies into the TPP process without sacrificing critical objectives, including that that a TPP agreement must be ambitious and comprehensive, and it must be concluded and implemented quickly.

“With the U.S., Canadian and Mexican economies so closely integrated under NAFTA, it is important for American business, workers and consumers to have all three countries fully engaged as partners in the TPP effort. We encourage all three governments to take the opportunity to strengthen North American trade ties and address remaining barriers between us, to help build an even more open and competitive North America market.

“Trade and investment will be critical in helping the U.S. and the world grow our way to a stronger economy with more and better jobs. The developments in Los Cabos this week are an important indication that major governments in the Pacific region are committed to pursuing meaningful market-opening agreements to spur growth.”

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 information is available at www.uscib.org.

Contact:
Jonathan Huneke, VP communications, USCIB
(212) 703-5043 or jhuneke@uscib.org

More on USCIB’s Trade and Investment Committee

USCIB Applauds Introduction of Russia Trade Bill in Senate

Published on June 12, 2012

New York, N.Y., June 12, 2012 – The United States Council for International Business (USCIB) applauded today’s introduction of legislation in the Senate to establish permanent normal trade relations (PNTR) with Russia, which it said is essential to ensure access for American exports and investments in this important emerging market as it joins the World Trade Organization.

“Russian membership in the WTO is a long-sought goal of American and global business,” said USCIB President and CEO Peter M. Robinson.  “Now it is time for us to fulfill our end of the bargain.  In so doing we can help ensure not only a level playing field for our exports and investments, and the many American jobs they support, but also help to advance the rule of law in Russia and cement a stronger U.S. partnership with the country.”

Senators Max Baucus (D-Mont.), John Thune (R-S.D.), John Kerry (D-Mass.) and John McCain (R-Ariz.) unveiled legislation today to establish PNTR with Russia when it joins the WTO this summer.  Passage of the bill, which would repeal the 1974 Jackson-Vanik amendment, is necessary for American businesses to capitalize on new market access opportunities in Russia under the terms of its WTO accession.

Russia is also taking steps to join the Organization for Economic Cooperation and Development (OECD).  Through its membership in BIAC, the Business and Industry Advisory Committee to the OECD, USCIB is working to advise the OECD and its member governments on appropriate terms for Russian entry into the organization, and is assessing the potential impact for U.S. business of Russian OECD membership.

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 information is available at www.uscib.org.

Contact:
Jonathan Huneke, VP communications, USCIB
(212) 703-5043 or jhuneke@uscib.org

More on USCIB’s Trade and Investment Committee

USCIB Applauds Progress at US-China Strategic & Economic Dialogue

Published on May 4, 2012

New York, N.Y., May 4, 2012 – The United States Council for International Business (USCIB) hailed progress made on several fronts at the U.S.-China Strategic and Economic Dialogue (S&ED) talks in Beijing this week.  USCIB President and CEO Peter M. Robinson said the two countries had demonstrated a “commitment to strengthen and deepen our business and economic ties,” and applauded in particular plans to negotiate a bilateral investment treaty (BIT).

According to the U.S. Treasury Department, the economic track of this week’s S&ED talks resulted in several important developments for American business, including:

  • agreement to intensify negotiations of a U.S.-China BIT
  • China’s commitment to provide non-discriminatory treatment to all enterprises, including state-owned enterprises (SOEs), in terms of credit, taxation and regulatory policies
  • agreement by China to take part in international talks to develop new rules on export financing, increase transparency in rule-making, and open up new sectors to foreign investment
  • China’s pledge to take steps to join the WTO Government Procurement Agreement.

“Taken together, these commitments could go a long way toward addressing some of the U.S. business community’s major concerns,” Robinson said.  “As an organization that seeks to promote trade, investment and regulatory coherence between the U.S. and the rest of the world, we are especially pleased with the decision to enter into BIT negotiations and address the SOEs issue.  We commend the U.S. and Chinese government for demonstrating their commitment to strengthen and deepen our business and economic ties.”

USCIB has been a leading American business voice urging the two governments to negotiate a strong, comprehensive BIT.  Last month USCIB welcomed the release of a revised U.S. model bilateral investment treaty.  “BITs are important tools to open overseas markets for U.S. companies, and they help drive U.S. exports and jobs in an increasingly competitive global marketplace,” Robinson said at the time.  “We are glad to see the U.S. getting back in the game, to ensure that we don’t fall behind our competitors in terms of investment protections.”

USCIB has also pressed for new international disciplines to ensure competitive neutrality for SOEs vis-à-vis their private-sector counterparts, including in third markets, and is working with the U.S. and other governments to address the issue in the Trans-Pacific Partnership talks and in the OECD.

About USCIB:

USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and prudent regulation.  Its members include top 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 the International Chamber of Commerce, the International Organization of Employers and the Business and Industry Advisory Committee to the OECD, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment.  More information is available at www.uscib.org.

Contact:
Jonathan Huneke, VP communications, USCIB
(212) 703-5043 or jhuneke@uscib.org

More on USCIB’s China Committee

More on USCIB’s Trade and Investment Committee