Wilbur Ross is 'not aware' if Ex-Im Bank will get new nominees
Commerce Secretary Wilbur Ross said Tuesday he's not personally aware of whether the White House would nominate a person to refill an open position on the board of the Export-Import Bank.
The board currently lacks a quorum and because of that is unable to do deals of greater than $10 million. More than $35 billion worth of potential deal are currently in limbo
"I am not aware that the (Trump) administration intends to send a new nominee (to Congress) or does not. I am just not aware of where they stand," Ross told the House Appropriations Committee Tuesday. "That is not a decision that will be made within Commerce. That is a decision that will made solely within the White House. ... I am not privy to any decision that the president has made regarding any other nominees for the Ex-Im Bank board."
Ross said this was the case even though he sits on the board as an ex-officio member. "But that's the only real relationship I have at this moment with the Ex-Im bank," he said.
The commerce secretary added he believes the country needs "a mechanism" to help the country finance international trade deals to counter China and European Union, but pointedly did not say that it had to be the Export-Import Bank.
In December, the Senate Banking Committee rejected Trump's nominee to lead the bank, former Rep. Scott Garrett, R-N.J. Garret was a vocal critic of the bank who previously led an effort to close it down. Trump has often criticized the bank himself, but top business trade groups have lobbied hard for its return.
The bank helps to finance international trade deals involving private companies. Supporters call it crucial to American competitiveness but critics argue it amounts to corporate welfare for a few large companies.
"Coming from the most trade-dependent states, we'd sure like to see that (bank) fully-operational," said Rep. Derek Kilmer, D-Wash.
By: Sean Higgins
Source: Washington Examiner