READOUT: EXIM's Chairman's Council on China Competition Meets to Discuss Implementation of Program on China and Transformational Exports
WASHINGTON - On May 19, the Chairman's Council on China Competition of the Export-Import Bank of the United States (EXIM) met with EXIM staff to discuss the implementation of EXIM's China and Transformational Exports Program (CTEP) and objectives of the Biden-Harris Administration related to U.S. strategic competitiveness in international markets.
Council Chair Ambassador Paula Dobriansky presided over the subcommittee meeting. Acting EXIM First Vice President and Vice Chairman James C. Cruse and EXIM senior management in the China and Transformational Exports Program Office, Office of Policy and International Relations, and Office of Communications and External Engagement also took part.
Adam Frost, senior vice president of the China and Transformational Exports Program, briefed committee members on program updates, including efforts to clarify the definitions of transformational exports, grow EXIM's CTEP portfolio, and improve interagency integration as part of a "whole of government" approach to empowering U.S. exporters.
The group discussed issues related to content, ensuring that EXIM continues its strong for U.S. job creation in transformational export sectors, and financing opportunities at the nexus of clean energy and strategic competition. Committee members offered their perspectives on emerging trends and commented on challenges that U.S. exporters face in meeting Chinese state-backed competition in international markets, particularly in sub-Saharan Africa.
The Export-Import Bank of the United States (EXIM) is the nation's official export credit agency with the mission of supporting American jobs by facilitating U.S. exports. To advance American competitiveness and assist U.S. businesses as they compete for global sales, EXIM offers financing including export credit insurance, working capital guarantees, loan guarantees, and direct loans. As an independent federal agency, EXIM contributes to U.S. economic growth by supporting tens of thousands of jobs in exporting businesses and their supply chains across the United States. Since 1992, EXIM has generated more than $9 billion for the U.S. Treasury for repayment of U.S. debt. Learn more at www.exim.gov.