Commodity Strategist: What did we learn at our commodity conference?

Research evidence excerpt

Commodity Strategist: What did we learn at our commodity conference?

The US sees private capital and alliances as an advantage, not a weakness

The discussion highlighted a consistent preference to compete with China through

market-based mechanisms rather than state-led replication. The US approach

emphasizes private capital mobilization, innovation, and long-term partnerships with

allies and host countries. While this model can be slower to deploy capital, it is viewed as

delivering more sustainable outcomes through stronger project discipline and

accountability. Institutions such as EXIM are positioned as gap-fillers, providing

financing where private markets alone are insufficient, particularly in higher-risk

jurisdictions or early-stage projects. Engagement with emerging and frontier markets

was also identified as an important component, both to secure supply chains and to

expand the reach of US technology and industrial ecosystems.

Success will be measured by execution and scale

Near-term priorities are focused on operationalizing Project Vault and deploying capital

in a phased manner. Success metrics extend beyond volume, including the ability to

attract anchor participants, support smaller suppliers, and catalyze additional private

investment. Internally, reforms at EXIM have been aimed at improving execution,

including faster decision-making, clearer accountability, and more consistent

engagement with companies. The broader objective is to ensure that financing tools are

accessible and effective in enabling US firms to compete globally. Over time, there is an

expectation that similar public-private structures could be applied to other areas of

supply chain vulnerability, depending on the effectiveness of the initial rollout.

4 Commodity Strategist | 22 June 2026