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

31.01Highguard, 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
30.01Rivian made an electric ambulance for Grey's Anatomy
30.01Sundance doc 'Ghost in the Machine' draws a damning line between AI and eugenics
30.01Sonos home theater gear is up to 20 percent off ahead of Super Bowl LX
30.01The best cheap VPN in 2026
30.01The first season of Amazon's Fallout show is now free on Youtube
30.01How to watch the 2026 Grammy Awards: TV channel, start time, where to stream, nominations list and more
Marketing and Advertising »

All news

31.01Highguard, a hyperpop arena shooter and other new indie games worth checking out
31.01Ahead of Market: 10 things that will decide stock market action on Sunday
31.01Market Trading Guide: Buy CCL Products, Aurobindo Pharma on Feb 1 for up to 8% upside. Heres why
31.01India Beyond the US: A new era of global partnerships
31.01Home and studio of R. Harold Zook, Hinsdales Frank Lloyd Wright, gets funding boost for preservation
31.01Why a Tennessee proposal to ban sports betting on campus is too little, too late
31.01Monday's Earnings/Economic Releases of Note; Market Movers
31.01Stocks Falling into Afternoon on Bursting Metals Bubble, Less Dovish Fed Speculation, Technical Selling, Commodity/Tech Sector Weakness
More »
Privacy policy . Copyright . Contact form .