This bill amends federal law to help U.S. companies compete more effectively against Chinese competitors by adjusting how the Export-Import Bank calculates its lending default rates. Specifically, it excludes certain loans from default rate calculations when the bank finances exports that either replace products from Chinese companies on a government blacklist or support competition against them. The bill also excludes loans made under a specific China-focused export financing program from the default rate calculation. These changes effectively allow the Export-Import Bank to make more loans to U.S. exporters by keeping the default rate artificially lower, since certain loans won't count against it. The legislation affects U.S. exporters, particularly those competing in markets dominated by Chinese firms or dealing with sanctioned Chinese entities, by making it easier for them to obtain government-backed export financing to boost their international sales.
Take Action
Your position
Add a comment
to comment on this bill.
Annotate the text
Highlight any passage on the Summary or Full Text tab to attach a note. Annotations appear on the Annotations tab.