Trump was ready to get rid of Export-Import Bank - until a CEO explained to him what it actually... [View all]

[DonViejo]

Source: RawStory




Trump was ready to get rid of Export-Import Bank - until a CEO explained to him what it actually does

TOM BOGGIONI
14 APR 2017 AT 12:36 ET

Ammong the promises Donald Trump made on the campaign trail, the now-president vowed to get rid of the Export-Import Bank calling it “unnecessary,” and saying it was used for “featherbedding” wealthy corporations.

Now, however, Trump has had a change of heart because the CEO of Boeing — which benefits greatly from the bank — pulled him aside and explained how it works, reports the Wall Street Journal.

In a piece explaining how Trump’s policies are either being shaped by business leaders or completely flipped, the Journal claimed that Boeing Co. CEO Dennis Muilenburg met with the president and explained the importance of the Export-Import Bank of the United States, which allows overseas customers to receive government-backed loans in order to purchase U.S. goods.

Following the meeting, and after speaking with several lawmakers who also supported the bank, Trump reversed course, agreeing to fill several spots on the bank’s board which require a presidential nomination.




Read more: http://www.rawstory.com/2017/04/trump-was-ready-to-get-rid-of-export-import-bank-until-a-ceo-explained-to-him-what-it-actually-does/