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12 U.S.C. § 635o — Congressional statement of purpose
Federal law — U.S. Code and appendices · legal_authorities
The purpose of this subchapter is—
(1) to expand employment and economic growth in the United States by expanding United States exports to the markets of the developing world;
(2) to stimulate the economic development of countries in the developing world by improving their access to credit for the importation of United States products and services for developmental purposes;
(3) to neutralize the predatory financing engaged in by many nations whose exports compete with United States exports, and thereby restore export competition to a market basis; and
(4) to encourage foreign governments to enter into effective and comprehensive agreements with the United States to end the use of tied aid credits for exports, and to limit and govern the use of export credit subsidies generally.
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Source file: Laws/federal/codes/united-states-code/title-12/section-635o-congressional-statement-of-purpose--a638b0de16.md
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Source location: Title 12, Chapter 6A, § 635o; chapter-6a-export-import-bank-of-the-united-states.md
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The purpose of this subchapter is—
(1) to expand employment and economic growth in the United States by expanding United States exports to the markets of the developing world;
(2) to stimulate the economic development of countries in the developing world by improving their access to credit for the importation of United States products and services for developmental purposes;
(3) to neutralize the predatory financing engaged in by many nations whose exports compete with United States exports, and thereby restore export competition to a market basis; and
(4) to encourage foreign governments to enter into effective and comprehensive agreements with the United States to end the use of tied aid credits for exports, and to limit and govern the use of export credit subsidies generally.
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Federal law — U.S. Code and appendices · legal_authorities
Nothing in this subtitle shall be interpreted as superseding the provisions of [section 635a–3 of title 12](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section635a–3&num=0&edition=prelim), except that in the event of an assessment of duty based on a derogation under [section 1671e of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title19-section1671e&num=0&edition=prelim) or action under [section 1671b(d)(1)(B) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title19-section1671b/d/1/B&num=0&edition=prelim), the Secretary of the Treasury shall not authorize the Bank to provide guarantees, insurance and credits to competing United States sellers pursuant to [section 635a–3 of title 12](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section635a–3&num=0&edition=prelim).
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Federal law — U.S. Code and appendices · legal_authorities
Page 253
TITLE 12—BANKS AND BANKING
§ 635o
Executive Documents
EX. ORD. NO. 11420. EXPORT EXPANSION ADVISORY
COMMITTEE
Ex. Ord. No. 11420, July 31, 1968, 33 F.R. 10997, pro-
vided:
WHEREAS foreign trade is an essential and con-
tinuing element in sustaining the growth, strength,
and prosperity of our economy, contributes to the im-
provement of our balance of payments, and fosters the
long-term commercial interest of the United States;
and
WHEREAS, on March 20, 1968, I requested the Con-
gress to empower the Export-Import Bank of the
United States to use up to $500,000,000 of its loan, guar-
antee, and insurance authority to finance a broadened
program to sell American goods in foreign markets;
and
WHEREAS the Congress has authorized the Bank to
extend loans, guarantees, and insurance which, in the
judgment of the Board of Directors of the Bank, offer
sufficient likelihood of repayment to justify the Bank’s
support in order to actively foster the foreign trade and
long-term commercial interest of the United States;
and
WHEREAS it is desirable and appropriate that guid-
ance concerning the commercial interests and the bal-
ance of payments objectives of the United States be
provided to the Board of Directors of the Bank in the
use of such loan, guarantee, and insurance authority
allocated to finance export expansion, and I have stated
that I would establish an Export Expansion Advisory
Committee to provide such guidance to the Board of Di-
rectors of the Bank:
NOW, THEREFORE, by virtue of the authority vested
in me as President of the United States, it is ordered
as follows:
SECTION 1. Establishment of Advisory Committee. (a)
There is hereby established the Export Expansion Advi-
sory Committee (hereinafter referred to as ‘‘the Com-
mittee’’
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 635o
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