NFTC Chairman Calls for Congress to Pass Broad Trade Bill

Thursday, 4 March 1999
  • A strong endorsement of multilateral trade liberalization through comprehensive WTO negotiation.
  • A renewal of traditional trade authority, called "fast track."
  • Common-sense sanctions reforms that would require rational cost-benefit analysis before the U.S imposes unilateral economic sanctions.
  • Multi-year authorizations of the agencies that help American workers and businesses compete on a level international playing field, including the Overseas Private Investment Corporation, the Export-Import Bank, the Trade Development Agency, and the Department of Commerce's Trade Advocacy Center.
  • Reform of Cold War-era trade laws, such as Jackson Vanik, and extension of multi-year Normal Trade Relations status to China and Vietnam.
  • Renewal and reform of the Export Administration Act and the Trade Adjustment Assistance program.

    "With an updated trade policy, supported on a bipartisan basis, the U.S. would be in the best possible position to achieve its goals in a new Round of trade negotiations during the upcoming WTO Ministerial in Seattle," Mr. Swift said. "Leading the way for further multilateral progress on trade is one of the most important steps we can take to restore global growth and prosperity."

    The National Foreign Trade Council was founded in 1914. From that date to the present, NFTC has been a leading spokesman on behalf of the private sector for an open international trade and investment regime. NFTC's membership consists of 580 U.S. manufacturing corporations, financial institutions and other U.S. firms having substantial international operations or interests.