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U.S. taxpayers subsidizing state-owned companies through Export-Import Bank

By Timothy P. Carney
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U.S. taxpayers subsidizing state-owned companies through Export-Import Bank

Should the U.S. government be propping up state-owned enterprises overseas? Should the U.S. business lobby be lobbying for this dynamic?

I’m at the Export-Import Bank Annual Conference in D.C. today and tomorrow. The second panel of the day featured Emilio Lozoya Austin, CEO of Pemex, the oil company owned by the Mexican government. Austin said Pemex is “Ex-Im’s largest client,” and Ex-Im is Pemex’s largest financier.

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Lobbying Subsidies Taxes Timothy P. Carney