EX-IM Bank Turns a Profit
The Export-Import Bank, a key support for manufacturers in America, has reached profitability for the first time in a decade, its chairman announced on Friday.
- As the U.S. government’s official export credit agency, the EX-IM Bank is instrumental in supporting American jobs and helping U.S. manufacturers compete around the world.
The word from EX-IM Bank: “Under President Trump’s leadership, EXIM is profitable again for the first time in nearly a decade,” said Chairman John Jovanovic.
- “EXIM has shown that we can reindustrialize America and support the industries of the future, all while returning a profit to the American people.”
Why it matters: In a world where other countries aggressively deploy state financing, the EX-IM Bank is essential, the NAM and its partners argued last month, urging policymakers to reauthorize and modernize the institution.
- “With long-term reauthorization and targeted reforms, Congress can ensure that the bank operates at full capacity to support American manufacturing, supply chains and global competitiveness in an increasingly competitive international marketplace,” the groups said.
A long history: The NAM has been a longtime champion of EX-IM Bank, acting as one of the most vocal advocates ahead of its reauthorization in 2019, and continuing that advocacy today.
