The Export-Import Bank of the United States (EXIM) has announced the launch of its “Strengthening American Competitiveness“ initiative aimed at supporting the Program on China and Transformational Exports (“China Program”). This program focuses on enabling U.S. exports to obtain financing support comparable to such support for Chinese exports to enhance global leadership of exports from the United States.
In December 2019, EXIM was reauthorized for seven years and charged with reserving at least 20% of the agency’s total financing authority for support to the China Program. The Trump administration intends to use EXIM as a significant tool to support financing for U.S. exports. EXIM’s President and Chairman, Kimberly Reed, has explained that the China Program sets a “goal of reserving $27 billion, to support the extension of loans, guarantees, and insurance that are fully competitive with the rates, terms, and other conditions established by the People’s Republic of China.” Financing under the China Program aims to “neutralize export subsidies for competing goods and services” provided by China, and support U.S. leadership in specific industries, including artificial intelligence, biotechnology, wireless communications, renewable energy, semiconductor manufacturing, water treatment and sanitation, and high-performance computing.
EXIM is providing a series of teleconferences on this initiative that will focus on how EXIM can support “Made in the U.S.A.” exports. The schedule of teleconferences is as follows:
- May 7, 2020 – Renewable energy
- May 14, 2020 – Wireless communication (5G)
- May 21, 2020 – Biotechnology and biomedical sciences
- May 28, 2020 – Semiconductors
- June 11, 2020 – Artificial intelligence; high-performance and quantum computing
- June 18, 2020 – Water treatment and sanitation
- June 25, 2020 – Emerging financial technologies
- July 9, 2020 – Space technology