Commodities

After Long Avoiding Politics, Commodity Traders Cozy Up to Trump

President Trump, center left, met with oil executives in the East Room of the White House, following the ousting of Venezuela’s Nicolas Maduro, on Jan. 9.Photographer: Jim Lo Scalzo/EPA/Bloomberg

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By Archie Hunter and Jack Farchy

April 19, 2026 at 6:08 PM UTC

For decades, the world’s biggest commodity traders have sought to remain outside of politics, doing deals with anyone who has natural resources to buy or sell. Now, Donald Trump is changing the rules of the game.

The US government has plunged into commodity dealmaking in recent months, awarding a series of contracts or partnerships with the potential to be hugely lucrative for the companies involved.