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

05.11How Will AI Impact Marketing and Ad Agency Headcount?
05.11Implementing ABM? Why a Customer Advisory Board Should Be Step One
05.11Montreal doctors can now write patients a prescription for a symphony concert
04.11Software Buying Experiences Online: What Buyers Want From Sellers
04.11The Publishers Cited Most by AI Chatbots [Infographic]
04.11AI Is Reshaping ABM: How B2B Marketers Can Unleash Their Fullest Potential
04.11Why Fewer Registrations Might Mean Better Pipeline
04.11Tugging at heartstrings, Japanese convenience stores tearful stickers cut food waste
Marketing and Advertising »

All news

05.11Tomorrow's Earnings/Economic Releases of Note; Market Movers
05.11Bull Radar
05.11Stocks Surging into Final Hour on Election-Induced Government Shutdown Ending Hopes, Earnings Outlook Optimism, Short-Covering, Alt Energy/Tech Sector Strength
05.11What Makes This Trade Great: DuPont (DD) and the Spin-Off Play
05.11Starbucks union workers plan strike beginning on Red Cup Day unless company agrees to a contract
05.11Chicago Aviation official pocketed over $250,000 from sham OHare snow removal deal: feds
05.11Conservative justices sharply question Trump tariffs in high stakes hearing
05.11Supreme Court justices appear skeptical of Trumps tariffs
More »
Privacy policy . Copyright . Contact form .