[Federal Register Volume 85, Number 228 (Wednesday, November 25, 2020)]
[Notices]
[Pages 75320-75321]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-26040]


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EXPORT-IMPORT BANK

[Public Notice: EIB-2020-0011]


Proposal To Consider Changes to EXIM's Content Policy With 
Respect to the Program on China and Transformational Exports

AGENCY: Export-Import Bank of the United States.

ACTION: Notice.

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SUMMARY: This Notice is to inform the public that the Export-Import 
Bank of the United States (EXIM), in implementation of its historic 
seven-year reauthorization and directive to establish a new ``Program 
on China and Transformational Exports'' (``directive'') is considering 
changes to its U.S. medium- and long-term content policy (``content 
policy''). Any changes to the content policy would be specifically with 
respect to the new directive.
    EXIM is considering whether changes to its content policy would 
improve the competitiveness of American exporters, and, by definition, 
their workers, as they face intense competition in transformational 
export sectors from China.

DATES: Comments must be received on or before December 14, 2020, to be 
assured of consideration before final consideration by the Board of 
Directors of EXIM.

ADDRESSES: Comments may be submitted through Regulations.gov at 
WWW.REGULATIONS.GOV. To submit a comment, enter Public Notice: EIB-
2020-0011 under the heading ``Enter Keyword or ID'' and select Search. 
Follow the instructions provided at the Submit a Comment screen. Please 
include your name, company name (if any) and Public Notice: EIB-2020-
0011 on any attached document.

SUPPLEMENTARY INFORMATION: U.S. stakeholders and financial institutions 
regularly identify EXIM's content policy as the greatest challenge to 
EXIM support of their exports. This concern has been further validated 
through extensive discussions with exporters across numerous sectors, 
including during EXIM's 2020 ``Strengthening American Competitiveness'' 
initiative--where more than 1,000 stakeholders participated--
specifically when it comes to neutralizing China and supporting 
transformational exports.
    EXIM's historic seven-year reauthorization (Pub. L. 116-94), signed 
into law December 20, 2019, directed EXIM to establish a new ``Program 
on China and Transformational Exports'' (Sec. 402). The Program's 
purpose is to support the extension of loans, guarantees, and 
insurance, at rates and on terms and other conditions, to the extent 
practicable, that are fully competitive with rates, terms, and other 
conditions established by the People's Republic of China or by other 
covered countries (as designated by the Secretary of the Treasury). The 
law charges EXIM with a goal of reserving not less than 20 percent of 
the agency's total financing authority (i.e., $27 billion out of a 
total of $135 billion) for support made pursuant to the program.
    Pursuant to EXIM's reauthorization, the China Program has two aims: 
(1) To directly neutralize export subsidies for

[[Page 75321]]

competing goods and services financed by official export credit, tied 
aid, or blended financing provided by China or by other covered 
countries; and (2) To advance the comparative leadership of the United 
States with respect to China, or support United States innovation, 
employment, and technological standards, through direct exports in 
certain transformational industries. These transformational industries 
include:
     Artificial intelligence.
     Biotechnology.
     Biomedical sciences.
     Wireless communications equipment (including 5G or 
subsequent wireless technologies).
     Quantum computing.
     Renewable energy, energy efficiency, and energy storage.
     Semiconductor and semiconductor machinery manufacturing.
     Emerging financial technologies (including technologies 
that facilitate financial inclusion through increased access to capital 
and financial services; data security and privacy; payments, the 
transfer of funds, and associated messaging services; and efforts to 
combat money laundering and the financing of terrorism).
     Water treatment and sanitation (including technologies and 
infrastructure to reduce contaminants and improve water quality).
     High-performance computing;
     Associated services necessary for use of any of the 
foregoing exports.
    Information on Decision: Information on the final decision for this 
matter will be available in the ``Summary Minutes of Meetings of Board 
of Directors'' on http://exim.gov/newsandevents/boardmeetings/board/.
    Confidential Information: Please note that this notice does not 
include confidential or proprietary business information; information 
which, if disclosed, would violate the Trade Secrets Act; or 
information which would jeopardize jobs in the United States by 
supplying information that competitors could use to compete with 
companies in the United States.

Joyce B. Stone,
Assistant Corporate Secretary.
[FR Doc. 2020-26040 Filed 11-24-20; 8:45 am]
BILLING CODE 6690-01-P