Freight News, Logistics, Business


Caterpillar CEO on Lapse of Ex-Im Bank’s Charter

[ October 29, 2015   //   ]

Since Congress allowed the Export-Import (Ex-Im) Bank’s charter to lapse on June 30, businesses of all sizes have been feeling the negative consequences. In Real Clear Politics, Doug Oberhelman, CEO of Caterpillar Inc., says that without Ex-Im, “fewer U.S.-made products are sold and fewer U.S. jobs are needed or created.”

“Typically, private financing sources and export credit agencies work together, and government-backed export credit agency financing is often a basic requirement for a sale,” he said. “If a U.S. company can’t meet that requirement, fewer U.S.-made products are sold and fewer U.S. jobs are needed or created.”

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