Discusses Partnership with EXIM as part of “Strengthening American Competitiveness” Initiative to Advance U.S. Comparative Leadership, Counter Chinese Export Subsidies
FOR IMMEDIATE RELEASE July 23, 2020
Office of Communications (202) 565-3207
WASHINGTON – Export-Import Bank of the United States (EXIM) President and Chairman of the Board of Directors Kimberly A. Reed today hosted a teleconference roundtable discussion with over 75 business leaders and stakeholders in the semiconductor and semiconductor machinery manufacturing sector. The event was the seventh teleconference in EXIM’s “Strengthening American Competitiveness” initiative, which provides valuable stakeholder input to EXIM’s new Program on China and Transformational Exports.
On the call, Chairman Reed highlighted the economic growth potential in this high-tech sector, and underscored EXIM’s commitment to accelerating the success of American semiconductor companies.
“The semiconductor industry represents a sector where U.S. companies compete with China on a daily basis,” said Chairman Reed. “Congress recognizes the economic and broader implications of the semiconductor industry, and I am committed to leveling the playing field for U.S. exporters and workers in this critical sector.”
Also giving remarks on the call were SEMI Manager of Public Policy and Advocacy Karl Kailing, EXIM Counselor to the Chairman and Senior Vice President for the Program on China and Transformational Exports, David Trulio, and EXIM Chief Banking Officer, Stephen Renna.
The Program on China and Transformational Exports, established in EXIM’s historic seven-year reauthorization, directs EXIM to provide financial products to directly neutralize export subsidies offered by the People’s Republic of China, helping to ensure a level playing field for U.S. businesses and workers as they compete globally. The program has the aim of advancing the comparative leadership of the United States and supporting U.S. innovation, employment, and technological standards globally in ten transformational export industries.
More information on EXIM’s Strengthening American Competitiveness initiative, including a full schedule of teleconferences and recordings of previous events, can be found here.
EXIM is an independent federal agency that promotes and supports American jobs by providing competitive and necessary export credit to support sales of U.S. goods and services to international buyers. A robust EXIM can level the global playing field for U.S. exporters when they compete against foreign companies that receive support from their governments. EXIM also contributes to U.S. economic growth by helping to create and sustain hundreds of thousands of jobs in exporting businesses and their supply chains across the United States. In recent years, approximately 90 percent of the total number of the agency’s authorizations has directly supported small businesses. Since 1992, EXIM has generated more than $9 billion for the U.S. Treasury for repayment of U.S. debt.
For more information about EXIM, please visit www.exim.gov.