China, rivals to ‘pick up the slack’ with lapse of US trade bank
By: Reuters | Jun 30 2015 at 05:24 PM | International Trade
The U.S. Export-Import Bank will stop new loans and insurance activities at midnight, the White House said in a statement, a lapse it said could hurt exports and jobs and benefit rivals like China.
“When Ex-Im lapses, China and other foreign rivals will pick up the slack, putting American businesses and American workers at a disadvantage,” the White House said.