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CEO DATELINE – NAM head urges rejection of Ex-Im Bank nominee

July 13, 2017
By Walt Williams

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National Association of Manufacturers CEO Jay Timmons is urging the Trump administration to withdraw the nomination of former Rep. Scott Garrett (R-N.J.) to chair the Export-Import Bank’s board of directors, saying Garrett’s confirmation “would be a terrible trade deal for our country.”

Garrett is a founding member of the House Freedom Caucus and has called for elimination of the Ex-Im Bank, once saying the institution “embodies the corruption of the free enterprise system.” President Donald Trump’s decision to nominate the former lawmaker to chair the bank’s five-member board has left many of its supporters flabbergasted. Timmons vented his industry’s frustrations in a Wall Street Journal op-ed Wednesday.

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

“Those like Garrett who have stood in the path of a fully functioning Ex-Im Bank are responsible for moving our jobs, our wealth and our factories to other countries,” he added.

Trump himself has done an about-face on the question of whether the Ex-Im Bank should continue to exist. He railed against the institution during his president campaign, but more recently has expressed support for reforming rather than eliminating it. http://bit.ly/2tQ9fHJ

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