Reauthorization of the Export-Import Bank of the United States: Hearing Before the Subcommittee on International Trade and Finance of the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Seventh Congress, First Session on Ensuring that EX-IM Bank Has the Resources to Enable it to Fulfill the Statutory Mandate for U.S. Exporters Both Small and Large to Provide Financing Terms and Conditions Competitive with Those Offered by Foreign Export Credit, May 17, 2001, Volume 4 |
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Page 83
... . Ex - Im Bank operates as a crucial partner to financial institutions that work with me- dium and small businesses by providing competitive solutions to their export needs . STATEMENT OF AMERICAN IRON AND STEEL INSTITUTE ( AISI ) 83.
... . Ex - Im Bank operates as a crucial partner to financial institutions that work with me- dium and small businesses by providing competitive solutions to their export needs . STATEMENT OF AMERICAN IRON AND STEEL INSTITUTE ( AISI ) 83.
Page 84
... ( AISI ) ON BEHALF OF U.S. MEMBER COMPANIES MAY 17 , 2001 The American Iron and Steel Institute ( AISI ) is pleased to provide the following statement on behalf of its U.S. member companies who together account for approxi- mately 70 ...
... ( AISI ) ON BEHALF OF U.S. MEMBER COMPANIES MAY 17 , 2001 The American Iron and Steel Institute ( AISI ) is pleased to provide the following statement on behalf of its U.S. member companies who together account for approxi- mately 70 ...
Page 85
... AISI has been forced to harden its position on requests to use U.S. taxpayer dollars for steel projects abroad . In view of massive world steel overcapacity and its key role in helping cause the global steel crisis and our national ...
... AISI has been forced to harden its position on requests to use U.S. taxpayer dollars for steel projects abroad . In view of massive world steel overcapacity and its key role in helping cause the global steel crisis and our national ...
Page 86
... AISI also wrote strong letters to the U.S. Export - Import Bank in opposition to requests for Ex - Im financing support to help build additional steel capacity in India and Turkey . AISI's full North American membership believes it is ...
... AISI also wrote strong letters to the U.S. Export - Import Bank in opposition to requests for Ex - Im financing support to help build additional steel capacity in India and Turkey . AISI's full North American membership believes it is ...
Page 87
... AISI supports a competitive , well - financed U.S. Export - Import Bank , but there is massive global excess steel capacity , a crisis in world steel markets and an emer- gency steel situation in the United States . Therefore , Ex - Im ...
... AISI supports a competitive , well - financed U.S. Export - Import Bank , but there is massive global excess steel capacity , a crisis in world steel markets and an emer- gency steel situation in the United States . Therefore , Ex - Im ...
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Common terms and phrases
AISI American application approved assistance Bank One Corporation Bank's behalf Benxi Bergsten billion budget capital center pivots Chairman China CHUCK HAGEL commercial banks company grant competition competitors contract Corporation costs decision Deere Deere & Company Department of Commerce developing country Dutch Dutch companies ECA's end user environmental Ex-Im Bank export credit agencies export financing exposure fees financing support foreign funding global grant agreement guarantees impact important increase Indiana Indiana Department Institute investment loan manufacturing market windows match McKenna Meaney Narayana negotiations Netherlands Netherlands government NIO Bank OECD Arrangement offer official ORET ORET/MILIEV grant overseas payment percent production proposed reauthorization Senator Bayh Senator HAGEL small businesses steel capacity steelmaking Straub Subcommittee submit subsidies supplier thank tied aid tion U.S. Export-Import Bank U.S. exporters U.S. Government U.S. steel United untied aid USX Corporation Valmont Valmont Industries Xinjiang
Popular passages
Page 19 - STATEMENT OF C. FRED BERGSTEN, DIRECTOR, INSTITUTE FOR INTERNATIONAL ECONOMICS Mr. BERGSTEN. Thank you very much, Mr.
Page 34 - ... of Ex-Im Bank and its net positive impact on the federal budget. EX-IM BANK IS FINANCIALLY SOUND Ex-Im Bank is financially sound. At the end of FY 2005, Ex-Im Bank had a total exposure of $62.9 billion. Against that exposure, the Bank had $7.6 billion in reserves - a very strong reserve position. Exporters and our overseas customers pay fees for Ex-Im's participation in export sales, which in the last several years have covered the government's costs of operating the Bank. Ex-Im charges interest...
Page 30 - Budget; the Office of the US Trade Representative; the Overseas Private Investment Corporation; the SBA; the US Information Agency, and the US Trade and Development Program.
Page 82 - The past 4 years should have been the best of times for an American steel industry restored to world class status, which in recent years has added over 20 million tons of new, state-of-the-art steel capacity. Instead, we have a national steel emergency caused by a tidal wave of injurious, unfairly traded and disruptive steel imports.
Page 34 - Bank generated $1.7 billion in revenues through its interest, premium and fee charges. Its total expenses, including borrowing costs, totaled $1.4 billion. Thus the Bank generated, a net $345 million surplus for the US government. Unfortunately, under the Credit Reform Act of 1990, the Bank cannot utilize its own revenues to cover its costs. Instead, the Bank must obtain annual appropriations for both its operating expenses and its loan-loss reserves. On OMB's books, the Bank appears to have spent...
Page 44 - Cline, William R. 2001. Ex-Im, Exports, and Private Capital: Will Financial Markets Squeeze the Bank?
Page 82 - ... forward to a continuing working relationship with you. With that, the Committee stands adjourned. [Whereupon, at 3:34 pm, the hearing was adjourned.] [Submissions for the Record follow:] Statement of the American Iron and Steel Institute The American Iron and Steel Institute (AISI) submits this testimony on behalf of its US member companies who together account for approximately two-thirds of the raw steel produced annually in the United States. AISI has maintained a strong working partnership...
Page 32 - ON BEHALF OF THE NATIONAL FOREIGN TRADE COUNCIL AND THE COALITION FOR EMPLOYMENT THROUGH EXPORTS MAY 17, 2001 Mr.
Page 41 - ... by the forces of the new economy— turned in one of its best performances ever, the export share rose further from 9.2 percent to 10.3 percent. Globalization is likely to continue to accelerate and the share of exports in the US economy is thus likely to grow substantially further in the future. When other characteristics of companies are held constant, exporting firms perform much better than nonexporters. Worker productivity is 20 percent higher. Export jobs are better jobs: Production workers...