The United States’ burgeoning electric vehicle industry could take another hit if former President Donald Trump wins the election in November — this time from his possibly aggressive approach on tariffs.
The former president and Republican presidential candidate has called for clawing back billions in unspent Inflation Reduction Act funding for EVs and clean energy, and signaled his intent to repeal EPA’s tailpipe regulations.
He’s also calling for imposing sweeping tariffs on manufactured goods like EVs, a move that — coupled with the nation’s challenges around sourcing critical minerals — could deliver a one-two punch for U.S. climate goals, some experts say.
Trump has hailed himself a “tariff man” on social media, and said during an event earlier this month at the Economic Club of Chicago: “To me the most beautiful word in the dictionary is tariff … it’s my favorite word.” His economic plan calls for tariffs of 60 percent on all goods the U.S. imports from China and tariffs of 10 percent to 20 percent on all other imports.
