Trump Admin Makes New Move to Beef Up American Manufacturing

FIRST ON THE DAILY SIGNAL—In an effort to beef up America’s manufacturing and reduce reliance on foreign companies, the Export-Import Bank, a federal credit agency, is unveiling a new loan opportunity for manufacturers.

Specifically, the bank is now “offering lender guarantees of up to 90% on equipment loans and operating leases” to American small and medium-sized manufacturers, a move it says will accelerate “the reindustrialization of America.“

The bank, which was established in 1934, seeks to provide financing for American exporters to give them a competitive advantage. 

The announcement of the initiative comes after the National Security Council—which advises the president on military and foreign policy—held a round table discussion Monday with the heads of the Export-Import Bank, the Department of Commerce, and the Small Business Administration on the topic of reindustrialization.

“For too long, the United States has relied on foreign production of machine tools and manufacturing machines,” reads an Export-Import Bank document explaining the project.

It adds, “Now, EXIM’s expanded Make More in America (MMIA) initiative will re-establish the domestic supply and secure U.S. leadership across all industrial manufacturing subsectors, from castings and forging to high-end automation.”

TRENDING ARTICLES

opinion

5 Things to Know About the SPLC’s Incoming CEO

Tyler O’Neil

opinion

JD Vance Survives the Women of ‘The View’

Al Perrotta

opinion

Millionaire ‘Lilo’ Star Died Homeless—Progressive Compassion Is the Problem

Drew Allen

Export-Import Bank Chairman John Jovanovic said in a statement of the initiative, “We are putting American small business manufacturers first at EXIM and improving access to capital so they can grow and compete internationally.”

He added that by providing “up to a 90% guarantee on equipment financing, EXIM is helping lower costs and support investment, making it easier for businesses to expand operations and compete globally.”

Related Posts

State Department Cracks Down on Foreign Fraudsters

FIRST ON THE DAILY SIGNAL—President Donald Trump is revoking the visas of three foreign nationals charged with defrauding the American people, the Daily Signal can first report. Three foreign nationals who the State Department says “swindled investors, looted taxpayer-funded programs, and abused the system” will no longer be allowed to enter the United States. “The…

SCOOP: Rick Scott Moves to Terminate DHS Program That Incentivizes Hiring Foreign Grads

FIRST ON THE DAILY SIGNAL—Sen. Rick Scott introduced a bill designed to end the Optional Practical Training visa program, which incentivizes employers to hire foreign students. The Florida Republican’s Prioritizing American Talent Act would prohibit Department of Homeland Security funding from being used to help foreigners secure employment in the U.S. The Optional Practical Training program, created…

‘END IT NOW’: MAGA Demands Trump End Visa Program That Takes Jobs From Americans

The MAGA movement is demanding that the Trump administration finally end a visa program that incentivizes employers to hire foreign students. The Optional Practical Training program, created in 1992, allows foreign students to remain in the United States to work for nearly four years after graduation. Employers receive a tax break for hiring foreign graduates…