This week’s chart uses Export-Import Bank data to show which countries’ firms received the most support from the federal agency in fiscal year 2014 in terms of the total financing authorized.
Deals involving multiple countries comes in at the top with $4.7 billion in total authorizations. The United States comes in second with almost $2.7 billion in authorized financing (mainly working capital guarantees for US exporters). China, which many policymakers consider to be the US’s chief economic rival, comes in third with $2.3 billion in assistance for its firms. The rest of the list includes other countries that policymakers consider economic rivals and/or are among the top 20 richest countries, according to the International Monetary Fund.
Forcing American taxpayers to subsidize foreign firms in relatively well-to-do countries is one more reason why the Ex-Im Bank should not be reauthorized.