The Traderszone Network

Published in TZ Latest News 30 July, 2015 by The TZ Newswire Staff

GE may ship $10 billion in work overseas as U.S. trade bank languishes

General Electric Co is taking steps to shift some U.S. manufacturing work overseas now that the U.S. Export-Import Bank will be shuttered at least until September, the industrial giant’s global operations boss told Reuters on Thursday. GE Vice Chairman John Rice said the conglomerate is bidding on over $10 billion worth of projects that require support from an export credit agency (ECA) like Ex-Im.