NAM opposes Trump pick to lead Export-Import Bank

by Talk Business & Politics staff (staff2@talkbusiness.net) 21 views 

The National Association of Manufacturers (NAM) has been largely supportive of the current administration’s efforts to defend U.S. manufacturing. But in a recent statement, it broke rank to speak out against confirming a man for whom President Trump has voiced previous support.

According to NAM President and CEO Jay Timmons, the confirmation of former New Jersey Rep. Scott Garrett to lead the Export-Import (Exim) Bank would be a mistake.

“President Trump has been a vigorous and outspoken supporter of manufacturers,” Timmons said, but “[Scott] Garrett’s confirmation [as chairman of the Exim Bank] would be a terrible trade deal for our country. His record of aggressively undermining the Exim Bank is tantamount to a vicious trade war against American manufacturing workers.”

Timmons said while manufacturers are “thankful to have a president who is willing to break through all of the rhetoric and misinformation about the Exim Bank in order to get it — and America — back in business,” the politician angling to lead it, Garrett, “would do exactly the opposite.”

“Those like Garrett who have stood in the path of a fully functioning Exim Bank are responsible for moving our jobs, our wealth and our factories to other countries,” Timmons said, adding that Garrett’s nomination to the post should be withdrawn.

In an October 2015 speech from the House floor, Garrett said the Exim Bank “turns the economy into a biased actor that uses … taxpayer dollars to tilt the scales in favor of its friends.”

Comments

comments