South OC Times

U.S. Representatives Young Kim from California and Joyce Beatty from Ohio have introduced a bipartisan bill named the Strengthening Exports Against China Act (H.R. 10196). The legislation aims to enhance U.S. competitiveness in emerging technologies while countering export subsidies provided by the Chinese Communist Party (CCP).

The current China and Transformational Exports Program (CTEP) at the Export-Import Bank is facing challenges in financing export projects due to a two percent default cap rate. The new bill proposes excluding CTEP export financing deals and projects that directly compete with the CCP from this cap. It also excludes U.S. exports competing with goods and services on the Department of Commerce’s Export Control Entity List or provided by entities sanctioned by the Department of Treasury, such as Huawei and ZTE.

Rep. Young Kim stated, “We must ensure that U.S. programs meant to counter the CCP are working as intended.” She added that the bill would allow the U.S. to lead in emerging technologies and effectively counteract CCP influence.

Congresswoman Beatty emphasized, “For the last 90 years, the U.S. Export-Import Bank has helped American companies successfully compete abroad.” She believes this bill will strengthen EXIM's impact by exempting certain transactions from its default rate cap, thus providing more flexibility for U.S. exporters.

Diane Rinaldo, Executive Director of Open RAN Policy Coalition, expressed support for the legislation: “Open RAN Policy Coalition applauds Congresswomen Kim and Beatty for their legislation that would maximize the utility of the Export-Import Bank’s tools.”