EXIM Serves as a Key Tool of Statecraft to Help Advance America’s National Interests Around the World, Supports U.S. Exporters and Workers to Successfully Compete Against Chinese State-Backed Entities
FOR IMMEDIATE RELEASE November 2, 2020
Office of Communications (202-565-3207)
WASHINGTON – Export-Import Bank of the United States (EXIM) President and Chairman Kimberly A. Reed issued the following statement regarding the White House’s release today of a book entitled “Trump on China: Putting America First,” a collection of speeches “laying out the most significant United States foreign policy shift in a generation.”
“This collection of speeches by President Trump, Vice President Pence, Ambassador O’Brien, Secretary Pompeo, and other high-level Trump Administration officials underscores the importance of the United States—along with our allies and partners— standing strong to protect and advance freedom, prosperity, jobs, and livelihoods. As Vice President Pence stated in his speech to the Hudson Institute, which is included in the new book, the United States ‘is giving foreign nations a just and transparent alternative to China’s debt-trap diplomacy,’ and I am so pleased that EXIM is critical to this effort. EXIM, especially with our new Congressionally-mandated Program on China and Transformational Exports—which was signed into law by President Trump on December 20, 2019, as part of EXIM’s historic seven-year reauthorization—now is positioned to serve as a key tool of statecraft to help advance America’s national interests around the world,” said Chairman Reed.
Reed continued, “In our recent op-ed, National Security Advisor Robert O’Brien and I noted that, ‘Leveling the playing field for American exporters will strengthen and grow American businesses of all sizes, create American jobs, and keep America strong.’ EXIM now provides needed support to U.S. businesses and workers so that they may successfully compete against state-backed entities from the People’s Republic of China, particularly when it comes to strategic export sectors like wireless communications (5G), artificial intelligence, biomedical sciences, and energy.”
The book includes speeches by President Donald J. Trump, Vice President Michael R. Pence, National Security Advisor Robert C. O’Brien, Deputy National Security Advisor Matthew F. Pottinger, Federal Bureau of Investigation Director Christopher A. Wray, Attorney General William P. Barr, Secretary of State Michael R. Pompeo and was edited by Ambassador O’Brien.
EXIM too is part of the Trump Administration’s whole-of-government approach to countering the People’s Republic of China. EXIM resources focused on competition with China include the following:
- EXIM’s Program on China and Transformational Exports
- EXIM’s Chairman’s Council on China Competition
- EXIM Chairman Reed and National Security Advisor Robert C. O’Brien’s op-ed: “Battling China’s Predatory Economics to Bring Back Jobs”
- EXIM Chairman Reed’s remarks at the Center for Strategic and International Studies: “Future Directions of the Export-Import Bank of the United States: Neutralizing China and Advancing U.S. Comparative Leadership in the World”
- EXIM’s Charter which includes the 2019 Congressional reauthorization requirement to establish the Program on China and Transformational Exports
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.