Xorte logo

News Markets Groups

USA | Europe | Asia | World| Stocks | Commodities



Add a new RSS channel

 
 


Keywords

2024-12-16 19:22:07| Engadget

In perhaps the least surprising news of the past six weeks, President-elect Donald Trump reportedly plans to roll back President Bidens electric vehicle and emissions policies. Reuters reports that the incoming presidents transition team has recommended cutting off support for EVs and charging stations while boosting measures to block cars, components and battery materials from China. The transition teams other reported plans include new tariffs on all battery materials globally, boosting US production of battery materials and negotiations with allies for exemptions. Theyre also said to plan on taking money allocated for building charging stations and making EVs more affordable and redirecting them to sourcing batteries and their required minerals from places other than China. In addition, they reportedly want to axe the Biden administrations $7,500 tax credit for consumer EV purchases. The plans would let automakers produce more gas-powered vehicles by reversing emissions and fuel economy standards, pushing them back to 2019 levels. Reuters says that would lead to around 25 percent more emissions per vehicle mile than the current limits. It would also lower the average car fuel economy by about 15 percent. Climate scientists have stressed the importance of transitioning from gas-powered cars to EVs in reducing carbon emissions and fending off the most ravaging scenarios for the planet. Greenhouse gases, including those from vehicle emissions, build up in the atmosphere and warm the climate. That leads to a cascade of effects in the atmosphere, on land and in oceans some of which were already seeing. As for tariffs, economists have said Trumps plans would likely spur multiple trade wars as countries retaliate with tariffs on American goods, disrupt supply chains and pierce the heart of Americas post-World War II alliances. If we go down the tariff war path, were going down a very dark path for the economy, Mark Zandi, the chief economist of Moodys Analytics, told The New York Times in October. The Biden administration has championed climate legislation like the Inflation Reduction Act, which allocated $369 billion for green initiatives, and EPA rules that require automakers to ramp up EV sales. Meanwhile, Trump has called climate change a hoax. In May, he reportedly told a group of oil executives that he would immediately reverse dozens of Bidens environmental rules while blocking new ones from being enacted. His asking price for such deregulation was that they raise $1 billion for his campaign. (Thanks, Citizens United!) So, while the reports about his transition teams plans are still a gut punch to those who care about leaving the planet in a habitable state for future generations (and slowing the effects were already seeing), they arent exactly shocking to anyone paying attention.This article originally appeared on Engadget at https://www.engadget.com/transportation/evs/trump-reportedly-plans-to-reverse-bidens-ev-policies-182206662.html?src=rss


Category: Marketing and Advertising

 

Latest from this category

31.01NVIDIA is still planning to make a 'huge' investment in OpenAI, CEO says
31.01Ayaneo's Pocket S Mini has the perfect aspect ratio for revisiting classic console games
31.01OnlyFans is reportedly in talks to sell a 60 percent stake to a San Francisco investment firm
31.01SpaceX wants to launch a constellation of a million satellites to power AI needs
31.01Blue Origin is pausing its space tourist flights to work on lunar landers for NASA
31.01How to turn on hypertension alerts on Apple Watch
31.01Highguard, a hyperpop arena shooter and other new indie games worth checking out
30.01NASA used Claude to plot a route for its Perseverance rover on Mars
Marketing and Advertising »

All news

01.02Budget 2026: Realty stocks plunge up to 10% on Budget miss; REITs rally up to 3%
01.02Budget 2026: Anant Raj, other stocks jump up to 10% as FM announces tax holiday to turn India into data centre hub
01.02Union Budget 2026: India raises overseas individual investment limits in equities under PIS
01.02Budget 2026: 7 high speed corridor plan lifts Jupiter Wagons, IRFC and other railway stocks up to 3%
01.02Budget 2026: Rs 40,000 crore electronics component outlay lifts Dixon Tech, Kaynes, PG Electroplast, and other EMS stocks up to 7%
01.02Budget 2026: GMDC shares rally 5% as FM Sitharaman announces rare earth corridor
01.02Gold, silver ETFs: BSE imposes 20% circuit limit after metal meltdown
01.02Bitcoin slides near $78,800 amid Fed leadership change and geopolitical tensions
More »
Privacy policy . Copyright . Contact form .