Excerpt from The Nelson ReportPrintable Version
A useful discussion of the reasons for Ex-Im at
the Center for
National Policy today. President Scott
Bates, moderating questions for the
guest speaker, former Commerce Secretary Carlos
Gutierrez, argued "We focus on national security policy
here at the Center, and want to emphasize that
the Export Administration Bank is an important
component of US national
As a Republican, Gutierrez of course wanted to be careful in his criticisms/comments on continued House Republican opposition to fully funding ExIm, even though the bank has already run out of loan money, and it's formal budget shuts down at the end of May, due to Budget chair Ryan's current position.
But he had no problem decrying T-Party populist claims that ExIm is simply a "crutch" for Boeing and a few other, big-ticket US exporters. Boeing, Caterpillar, GE and a handful of other major manufacturers make the very expensive items which require financing, and which generate both export profits and domestic jobs.
We thought the most effective part of his arguments, in terms of appealing to non-T Party Republicans, at least, and presumably also Labor Democrats, is that both China and now Russia are ginning-up their own versions of Ex-Im, so now would be absolutely the worst time for the US to let ExIm collapse, or be subjected to significant delay in full funding.
Gutierrez also pointed out China's emphasis on the ASEAN + 3, and that some 100 FTA's are currently in negotiation, while the US presently is only engaged in TPP...and that China is backing-up its SOE's entry into the global market with massive infrastructure projects throughout the world, but especially targeting S.E. Asia.
US business sources currently leading the fight for ExIm tell us that negotiations are on-going with Congress, and that there's rising hope some kind of useful deal may be in the works...stay tuned.