Dave Cote Urges for Ex-Im Bank Reauthorization on CNBC
July 11, 2014
Honeywell Chairman and CEO Dave Cote appeared on CNBC Closing Bell to speak with host Kelly Evans about the need to reauthorize the Export-Import (Ex-Im) Bank.
“Every country recognizes that exports are critical for job development,” Cote explained. “Exports create jobs. It's why you find big countries like Korea, Japan, China, France, Germany – all of them are supporting exports with financing. We do the same thing with the Ex-Im Bank. We need to have this to be competitive as a country.”
Cote continued, “We can't unilaterally disarm and say, for all of their companies, ‘sure, go ahead and provide financing that helps companies export but in the U.S., we're not going to help our companies.’ It puts U.S. workers at a disadvantage. I don't think we ought to put U.S. workers in that kind of a position.”
Click here to watch a clip of the interview.