Ex-Im Bank Supports Nuclear Energy Exports & National Security

The U.S. Ex-Im Bank supports national security interests. As a group of former national security officials – including retired General Jim Jones, former U.S. Assistant to the President for National Security Affairs Stephen Hadley, and one-time U.S. Trade Representative Carla Hills – have argued, Ex-Im Bank provides critical support to exports that have strategic value:

The Ex-Im Bank is one of the most important tools in our system of government to enable US companies to compete and secure business in overseas markets. As much as the United States has done to promote the creation of free markets and fair trade, it remains an imperfect world. The foreign competitors of US manufacturers all have access to export credit agencies in their countries of origin – many of which are much larger and do not abide by the same stringent rules as the Ex-Im Bank. The Ex-Im Bank levels the playing field for our companies, whether small, medium or large, and enables them to participate in international tenders where their goods and services will be evaluated on an equal basis against their foreign competitors. Indeed, many global customers require access to export credit agency funding as a prerequisite to submit a proposal. Without access to the Ex-Im Bank, US manufacturers could lose deals before they even begin to assemble their bids.

To us, it is inconceivable that some in Congress could contemplate dismantling the Ex-Im Bank while the dynamics of global trade remain as they are. Unilateral disarmament has never been considered a viable defense policy, and we cannot think of a reason why it should be considered a rational export policy.

Nuclear energy is a prime example. Without Ex-Im Bank support, U.S. companies would specifically be at a severe disadvantage against international rivals, which offer competitive financing and strong state support for their nuclear bids. When U.S. firms win foreign nuclear energy tenders, U.S. interests in energy security, nuclear safety and nonproliferation are advanced. U.S. firms face formidable international competitors – all of which receive competitive export financing.

Commercial and economic diplomacy are critical elements of national security and the involvement of U.S. companies in global markets benefits our economy while driving growth and political stability worldwide. Congress must make growing exports a priority and pass a long-term, multi-year extension of the Export-Import Bank.