Posted on February 2, 2026 by Jeremy Harrell
This op-ed was originally published by The National Interest on January 30, 2026. Click here to read the entire piece.
To outcompete China in global energy markets, the United States must modernize export finance to back American workers, innovation, and energy leadership abroad.
If America does not lead the future of energy technologies, China will. Think about financing major energy and infrastructure projects in emerging markets. This is an enormous challenge for American firms, and today, China fills that gap. Recent ClearPath analysis finds that since 2015, China has financed at least $446 billion in global energy infrastructure and exports, nearly 10 times what the United States has invested. How do they do it? They cheat. China offers massive subsidies, and its banks often rely on predatory lending practices that discourage market competition and disadvantage American firms.
Thankfully, the Trump administration has put energy security firmly at the center of US foreign policy, ranging from efforts to promote American nuclear technologies abroad to strengthening partnerships to secure our critical mineral supply chains. The key to energy dominance is simple: innovate here, build here, and sell everywhere. To deliver, Washington must unleash private sector innovation and sharpen America’s competitive edge. Not by trying to match subsidies from the likes of China, but by using targeted financing tools to de-risk projects, attract private capital, and create favorable market conditions. The United States can empower its innovators and manufacturers to lead in global markets and support American jobs.
This was clearly articulated by the leadership of the Export-Import Bank (EXIM) as its new Chairman, John Jovanovic, is organizing the Bank around four strategic priorities: 1) putting American jobs first, 2) advancing US energy dominance, 3) ensuring supply chain security, and 4) clearing a path for industries of the future. These are pragmatic and yet inspiring goals that the American public can rally behind to win the global energy markets race. As Chairman Jovanovic put it, “Time is our biggest enemy and every day we come to work with a sense of urgency to support American workers, manufacturers and our nation’s economic security.”
Click here to read the full article
