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Trump picks critic to lead Ex-Im Bank he once opposed

AP  |  West Palm Beach(US) 

President Donald Trump plans to nominate a vocal critic of the US Export-Import to serve as its president.

The announced late yesterday that Trump plans to nominate Scott Garrett, a former Republican congressman from New Jersey, to serve as president of the credit agency, which helps overseas buyers get financing to purchase US


He'll also nominate Spencer T Bachus III of Alabama, another former House member, to serve as a member of the bank's board of directors.

Garrett voted against renewing the bank's charter while he was in Congress, denouncing it as "corporate welfare."

Trump also used to be against it. But he's now changed his mind, telling The Journal earlier this week that he believes it helps US companies gain business.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, April 15 2017. 05:48 IST
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