torsdag 16. oktober 2025

Trump’s EV retreat is a huge win for his No. 1 trade rival

Two years ago, as President Donald Trump was running for reelection, he derided President Joe Biden’s electric vehicle push as a “hoax” promoted by “Radical Left Fascists, Marxists & Communists.”

“Within 3 years, all of these cars will be made in China,” he wrote on social media at the time.

That last jab now reads as more of a promise than a prediction.Since returning to office, Trump and congressional Republicans have upended the landscape for electric vehicle development in America, yanking the $7,500 tax incentives that helped entice car buyers, freezing funding for charging infrastructure development and eliminating fuel-efficiency targets for automakers.

The result: The US is retreating on EVs just as China, its No. 1 economic rival, is going full steam ahead, cementing its dominance over not only global EV sales but also the supply chains for batteries and critical rare-earth minerals used in their production.