H.R. 1615 — Strengthening Exports Against China Act

This section revises the freeze on the Export-Import Bank of the United States' (EXIM Bank's) $135 billion limit on outstanding loans, guarantees, and insurance—triggered if the program's default rate reaches 2% or more for a quarter—by excluding from the default rate calculation any entity in default if the Bank's financing to that entity (i) facilitates replacement of or competition with a product or service from (I) an entity on the Commerce Department's Entity List or (II) a person on Treasury's list of specially designated nationals and blocked persons (or 50% owned by such persons), or (ii) was provided under EXIM's Program on China and Transformational Exports. (Thus, such strategic defaults against national security risks or foreign competitors do not count toward the 2% threshold.)