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Ex-Im Bank Resurrected by Trump

For the first time since 2015, the U.S. Export-Import Bank can approve deals of more than $10 million, because the Senate confirmed three new members of its board of directors, giving the bank a required quorum needed to approve larger deals. Senators confirmed Kimberly Reed as bank president along with Judith DelZoppo Pryor and former Rep. Spencer Bachus (R-Ala.) on May 8, 2019.  The three nominees were all picked by the Trump administration.

Chinese Data on Trade Shows Imports From America Have Fallen in 2019

About a year ago, President Donald Trump’s administration imposed heavy tariffs on foreign manufactured aluminum and steel.  This triggered a domino effect of retaliatory tariffs with China.

The administration’s protectionist moves have scared American businesses and investors. In all, the U.S. has put tariffs on $250 billion of Chinese goods.  The administration has justified these tariffs by claiming that trade protectionism creates domestic jobs.  However, that anecdotal claim is untrue.

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