As the President has implemented a plan to double American exports, this legislation aims to give thousands of American businesses the necessary means to sell more of their services and products overseas. More importantly, the Department of Transportation feels that the Ex-Im Bank legislation will lead to more cargo opportunities for U.S.-flagged ships, as well as better jobs for our merchant mariners.
The Maritime Administration has been in favor of the Ex-Im Bank because the exports that it supports add to the cargo volume for the U.S.-flagged merchant fleet. For example, on June 1st, an American flagged ship left the Port of Milwaukee with cargo bound for international export for the first time since the 1980s.
