Americans Shouldn’t Be Asked To Subsidize China’s Economy

Apr 12, 2018 by AFP

Arlington, VA – Americans for Prosperity Chief Government Affairs Officer Brent Gardner issued the following statement in response to remarks by Treasury Secretary Mnuchin that “the president is very interested in reopening the Export-Import Bank” as a “fully functioning” entity:

“The Export-Import Bank is corporate welfare at its worst. This is an entity that uses billions in U.S. tax dollars to undermine American companies, line the pockets of massive corporations, and prop up foreign competitors. American taxpayers shouldn’t be asked to subsidize China’s economy. The White House should be looking for ways to shut this bank down, not open it back up.”

From 10/1/06 Through 9/30/17, The Export-Import Bank Authorized $6,825,408,491 In Support For Deals Involving China. (“Authorizations From 10/01/2006 Thru 09/30/2017,” Export-Import Bank Of The United States, 1/25/18)

At The End Of Fiscal Year 2017, The Export-Import Bank Had $4.5287 Billion In Exposure To The Chinese Market. (“2017 Annual Report,” Export-Import Bank Of The United States, 2/6/18)

From 10/1/06 Through 9/30/17, The Export-Import Bank Authorized $432,398,434 In Support For Deals In Which The Export-Import Bank Of China Was The Primary Borrower. (“Authorizations From 10/01/2006 Thru 09/30/2017,” Export-Import Bank Of The United States, 1/25/18)

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