Recent reports of President Obama visiting the Boeing plant in Washington made an interesting read.
This NYT report said,
This NYT report said,
“I want us to sell stuff,” Mr. Obama said as he finished a trip to the West Coast, calling on Congress to continue supporting export financing agencies and announcing an array of plans aimed at helping manufacturers.
As this is an election year, Mr. Obama went for the ultimate photo op, using the spectacle of a new United Airlines Dreamliner as his backdrop to ask Congress not to cut financing for the Export-Import Bank, the American export credit agency."Another report suggested,
" Obama, on the final stop of his three-day swing through California and Washington, will tour a Boeing production facility and speak to a crowd of several hundred workers inside the final assembly building for the company's new 787 Dreamliner.
Boeing has become a poster child for a thriving manufacturing sector and American export business, and one Obama will use to highlight a battery of steps he believes will help nudge large and small businesses to achieve similar success.
Obama is directing the Export-Import Bank, which helps finance U.S. companies that want to sell their goods abroad, to more aggressively support firms that face competition from foreign businesses unfairly subsidized by their governments in violation of "international disciplines."
As part of that effort the Bank will also launch a new pilot program for small businesses, providing 6-12 month loans of up to $500,000 to help them grow their exports, officials said Thursday night."
The reports were interesting for a number of reasons: The President identified the interests of Boeing with US national interests. Thus growth in manufacturing and exports which is part of the national trade policy is fuelled by domestic industry's growth. Is the "export" financing initiative in consonance with the SCM Agreement? In the backdrop of the Airbus-Boeing dispute (blogged about it earlier here and here) that has plagued the industry for long, it is surprising that the President did not allude to it (atleast the reports did not make mention of them, unless I have missed something). Any reactions from Airbus on the visit? Any visit of top European leaders to the Airbus plant in Europe?