President Barack Obama examines the overhead bin of a 787 Dreamliner with Boeing employee Rick Goade during a visit to Boeing on Friday. Photo: Susan Walsh/Associated Press
EVERETT, Washington — President Obama, standing before a long line of 787 Dreamliners at the Boeing factory here, pushed a proposal to boost sales of American products by enhancing funding for U.S. exporters competing with foreign firms.
The president, visiting the nation’s largest exporter to trumpet his manufacturing and exporting initiatives, wants greater export financing for American manufacturers and expanded support for small businesses. He also stressed the need for fairer trading practices with China.
To illustrate the point, he outlined the role of the federal government’s Export-Import Bank in helping foreign carriers buy Boeing airliners. The President wants to expand the use of government-backed financing to provide the same assistance to domestic airlines.
“I’m instructing the bank to give American companies a fair shot by matching the unfair export financing that their competitors receive from other countries,” he told a cheering crowd of Boeing workers.
The Export-Import Bank has long helped foreign airlines access capital to buy American airplanes. Last year, Boeing announced a record-setting $22 billion order for 230 Boeing 737s, a deal financed in part with help from the Export-Import Bank.
There has been an unofficial reciprocal agreement with some European nations to not offer financing to airlines in those countries where Airbus aircraft are assembled; those countries, in turn, do the same with regard to American carriers and Airbus aircraft. But Obama cited China, with its growing aerospace industry, as a potential financing threat. Canada also is a concern, as the Canadian government wants to help Bombardier sell more regional airliners to U.S. carriers.
The president’s comments today echo those in his State of the Union speech. During his appearance in Everett, the president renewed his call to end tax breaks for companies that send jobs overseas and again suggested a minimum tax on multi-national companies.
Before taking the stage, President Obama toured the factory floor and checked out out a Boeing 787 Dreamliner built for United Airlines. He commented on the aircraft’s impressive heads up cockpit display especially enjoyed the dimable cabin windows.
“I was in there fooling around with the windows, where you press [a button] and they dim on their own,” he said to laughter from the crowd. “I kept pressing the button.”
Boeing is the country’s largest exporter and almost certainly will be pivotal in the president’s plan to double exports by the end of 2014. Roughly 80 percent of Boeing’s airliners are sold overseas. Japan’s All Nippon Airways was the launch customer for the 787 Dreamliner, a plane that has so far been most popular among foreign carriers. Boeing has seen huge demand for its commercial aircraft and hopes to increase commercial jet production more than 60 percent by 2014.
The president’s visit also marked a homecoming of sorts for Air Force One, a Boeing 747-200B assembled in Everett 25 years ago.
“I want to thank all of you for also giving me a pretty smooth ride,” the president said.
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