Background

The Export-Import Bank of the U.S. is considering changes to its medium- and long-term content policy with respect to a congressional directive to establish a new Program on China and Transformational Exports. Comments are due by Dec. 14.

This program is intended to (1) directly neutralize export subsidies for competing goods and services financed by official export credit, tied aid, or blended financings provided by China, and (2) advance the comparative leadership of the U.S. with respect to China, or support U.S. innovation, employment, and technological standards, through direct exports in ten transformational export sectors. These sectors include artificial intelligence; biotechnology; biomedical sciences; wireless communications equipment (5G); quantum computing; renewable energy, energy efficiency, and energy storage; semiconductors and semiconductor machinery manufacturing; emerging financial technologies; water treatment and sanitation; and high-performance computing.

According to an agency press release, U.S. businesses seeking to export goods and services in these sectors “face intense competition” from China and its Belt and Road Initiative. They also regularly identify EXIM’s content policy, which is by far the most restrictive in the world, as the greatest challenge to securing EXIM support for their exports.

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