Mister Yovanovitch, President Trump’s nominee to be chairman and president of the Export‑Import Bank of the United States, told the Senate Banking, Housing, and Urban Affairs Committee that EXIM must be focal in “revitalizing America’s economy” and in countering state‑backed export credit programs from China.

Yovanovitch told senators that China’s export credit support is large — he described it as equivalent to roughly “90% of the entire G‑7 combined” over recent years — and that EXIM should use a cohesive strategy and public‑private mobilization to help American exporters compete. He said he would prioritize supply‑chain resiliency, help small and medium‑sized businesses, and work to catalyze private capital.

Why this matters: EXIM provides loans, guarantees and insurance intended to help U.S. exporters compete abroad; committee members said stronger EXIM tools are needed to counter subsidized financing and to support strategic sectors such as critical minerals, semiconductors and biotechnology.

Senator Mike Rounds cited bipartisan proposals to give EXIM additional flexibility in countering China, including legislation to exclude certain financing from EXIM’s statutory “2% default cap” for projects tied to competing technologies. Yovanovitch told the committee he would work with senators on prospective legislative changes and implement programs such as the China and Transformational Exports Program (CTEP) to support priority sectors.

Committee members also raised sector priorities. Senator Tim Kaine and Senator Kim (and others) urged emphasis on biotech and biomedical research as an area where China could make rapid gains; Yovanovitch acknowledged prior EXIM financing totals and said CTEP should be mobilized to address those gaps. Senators also discussed EXIM’s lapse in authorization from 2015–2019; Yovanovitch said that lapse allowed foreign competitors to capture deals and that restoring modern tools is important to supporting U.S. jobs.

Yovanovitch emphasized small businesses as the core of EXIM’s work, saying roughly 90% of what the bank does supports smaller firms and that EXIM should improve outreach and efficiency to keep production and jobs in the United States.

The hearing included requests that the nominee provide follow‑up information and to coordinate with committee offices on reauthorization and legislative proposals. The committee set deadlines for written questions in the record.