Export-Import Bank authorization expires, ending its ability to approve new financing for U.S. exports

The Export-Import Bank's authority to conduct new business expires December 31, 2026, after Congress extended it in 2019 through that date. Ex-Im Bank provides direct loans, guarantees, and insurance to foreign buyers of U.S. exports — primarily backing large aerospace, energy, and manufacturing deals that private banks won't finance. If Congress fails to reauthorize, the Bank can manage existing obligations but cannot approve new transactions. The Bank's China and Transformational Exports Program (CTEP), which targets direct competition with China's state-backed export financing, also sunsets on the same date. The Trump administration launched Project Vault in February 2026 — a $10 billion Ex-Im loan initiative to build critical minerals reserves — which depends on the Bank remaining authorized.