ANNOUNCEMENT 30 May 2012In May 2012, the government of the United States of America announced a changed export promotion.
NUMBER OF INTERVENTIONS
See the hyperlinked material in the description. For a more detailed examination of the issues see http://www.washingtontradereport.com/joomla/2012/WTRVol28No17.pdf.
President Obama signed into law on May 30, 2012 the 'Export-Import Bank Reauthorization Act of 2012' (H.R.2072), a bill to renew the charter of the Ex-Im Bank. This bill, which had been under debate for close a year, was approved by the House of Representatives on May 9, 2012 and by the Senate on May 15. It had been a source of considerable controversy within the Republican majority in the House, where more conservative members objected to subsidized export financing and sought either to reduce the bank's resources or to eliminate it altogether. The bill ultimately won unanimous support from Democrats in both chambers of Congress but divided votes from Republicans.