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Chairman Reed Underscores EXIM’s Support for American Innovation Globally to Council on Competitiveness

Highlights EXIM’s New Program on China and Transformational Exports

FOR IMMEDIATE RELEASE June 8, 2020

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WASHINGTON – Export-Import Bank of the United States (EXIM) President and Chairman Kimberly A. Reed today participated in a Council on Competitiveness virtual dialogue with more than 40 members of the Council’s “Technology Leadership and Strategy Initiative.” Attendees represented a range of businesses, universities, and research institutions from across the country.

During the event, Chairman Reed highlighted EXIM’s role in advancing American innovation by helping U.S. businesses export their “Made in the USA” products around the world.

Others participating in the discussion included:

  • Deborah Wince-Smith, Council on Competitiveness President and CEO.
  • Dr. Mehmood Khan, Council on Competitiveness Chairman and CEO of Life Biosciences.
  • Walter G. Copan, Under Secretary of Commerce for Standards and Technology and Director or the National Institute of Standards and Technology.
  • Alan R. Shaffer, Deputy Under Secretary of Defense for Acquisition and Sustainment.
  • Chad Evans, Council on Competitiveness Executive Vice President.

Chairman Reed also discussed EXIM’s new Program on China and Transformational Exports, established in EXIM’s historic reauthorization, which is intended to help level the playing field for U.S. exporters and workers by directly neutralizing export subsidies for competing goods and services offered by the People’s Republic of China. In May, EXIM launched its “Strengthening American Competitiveness” initiative, beginning with a series of teleconferences with American businesses and stakeholders. A full schedule of upcoming teleconferences and recordings of previous events can be found here.

“The Council on Competitiveness has worked for many years to jump-start American productivity, and I was honored to join this esteemed group to focus on how the U.S. government can support innovation on the global stage,” Chairman Reed said. “The future for American jobs lies in technologically advanced industries, and the Council’s expertise, under President Wince-Smith’s leadership, is key as we at EXIM focus on supporting U.S. exporters and their innovation, employment, and technology standards. EXIM is very serious about making sure high-quality ‘Made in the USA’ goods and services can fully compete and win in the increasingly difficult global marketplace.”

“The Council on Competitiveness — and our community of chief technology officers across industry, academia, and the national laboratory enterprise — affirms the critically important role the Export-Import Bank of the United States plays in our innovation economy, helping U.S.-made goods and services create value and thrive in the global marketplace,” said President Wince-Smith. “Chairman Reed’s efforts on this front, as well as her priorities to advance the comparative leadership of the United States with China, and to support U.S. innovation and employment in disruptive technologies — like AI, biotechnology, 5G, high performance and quantum computing, and advanced microelectronics — will shape America’s future productivity and inclusive prosperity.”

Chairman Reed also outlined the agency’s COVID-19 relief measures and reaffirmed EXIM’s continuing commitment to supporting U.S. businesses of all sizes that export as the United States reopens and the American economy rebounds.

President Wince-Smith also serves on EXIM’s Advisory Committee, which advises EXIM on its policies and programs, in particular on the extent to which the agency provides competitive financing to support American jobs through exports. At the June 5, 2020, EXIM Advisory Committee public meeting, Wince-Smith stated that “our country should be at the forefront of the technology and services of the future, which change right before our eyes. We need a 21st century manufacturing and services sector in the United States, and our businesses have to have the tools to compete.”

Founded in 1986, the nonpartisan Council on Competitiveness — a membership network of CEOs, university presidents, labor leaders, and national laboratory directors — works to advance its mission of enhancing U.S. productivity and raising the standard of living for all Americans.

ABOUT EXIM:

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.