CPA is fighting to maintain ExIm Bank rules that favor products made in the United States, in a meeting with ExIm Bank staff last week in Washington.
The U.S. Export-Import Bank (ExIm Bank) provides financing for some foreign purchases of U.S. goods. Other countries have a version of ExIm Bank.
For example, of South Africa wants to buy Boeing Dreamliners, the ExIm Bank will finance up to 85% of the purchase, or the amount of domestic content, whichever is less. (There are obviously other rules and conditions as well). So, if the Dreamliner has 92% domestic content, ExIm will finance 85%. If the Dreamliner has 50% domestic content, then ExIm will finance 50% of the sale value.
In the last ExIm reauthorization bill, the multinational export lobby included a provision for ExIm to look at relaxing its domestic content rules. They want ExIm to consider, as US made, product made elsewhere by a U.S. company.
CPA is opposing this change. Several of our manufacturing members met with ExIm Bank staff last week for several hours arguing the benefits of domestic supply chains for the economy. Those benefits justify the domestic content rules remaining the same.
Its a never ending battle to not only fight for balanced trade, but also oppose changes that would further gut the production of food and goods in the United States. CPA is a respected institution now, being invited for input at the governmental level more and more.