Donald Trump blackmailing oil executives to end electric cars in the United States?

May 13, 2024May 13, 2024 Shivansh 0 Comments

Donald Trump blackmailing oil executives to end electric cars in the United States?

Next November, the United States faces new presidential elections, and, as usual, the entire course leading up to that event usually brings important headlines not only in a political sense. Without entering into debates of this type, the truth is that the statements of one of the candidates, Republican Donald Trump, are resonating greatly in the automotive sector.

The former president of the United States will face the current president, Joe Biden, on November 5. The current legislature has launched an important program of commitment to electrical technology not only in the automotive sector but also in the renewable energy sector. A plan, the IRA Act, that Trump has already acknowledged wanting to overthrow.

In this sense, the latest information that reaches us from the other side of the pond is most peculiar and worrying for the main actors, who are betting on the electric car. According to the Washington Post, which accessed several sources from a meeting between the Republican candidate and oil executives, Trump has dropped that he will end incentives for the purchase of electric cars if they contribute financially to his election campaign.

It has been common to hear and see Donald Trump talk, and not exactly well in recent times, about electrical technology in vehicles. “Everything is in favor of electric cars,” he commented. He did it in the past, trying to overturn this type of aid and proposing new policies in favor of combustion cars (and annulled by the Biden administration). In 2024, however, his speech and strategy have intensified much more.

The North American media assured that Donald Trump would have promised, among other things, to reverse dozens of environmental rules and policies that President Biden launched at the time, while at the same time, he would prevent, if re-elected president, new ones from being enacted in the future. All in exchange for only one billion dollars for his electoral campaign. “You are all rich enough, he said, to raise a billion dollars to put me back in the White House.”

Donald Trump is also against China.

That is not the only battle that Donald Trump has waged against electric cars. He has also talked a lot about the free trade agreement that his country has with Mexico and Canada: a situation that is trying to be exploited by Chinese brands to introduce their electric cars into the US market.

Unsurprisingly, Donald Trump doesn’t like seeing Chinese cars coming from his borders, which is why he has promised 100% tariffs on electric vehicles manufactured in his neighboring country Mexico. The former president assured that in the last 30 years, they had taken 34% of car production in the United States, taking advantage of lower costs and regulations on the other side of the border.

This way of seeing things could also affect many Western manufacturers, since Trump could also prohibit, in one of his most ‘ambitious’ promises, the sale of electric cars manufactured in China or containing parts from that country. We all know the enormous dependence on the Asian giant’s supply chain in practically all brands, which would leave this promise very much in question.

Analysts have been warning for some time: if the North American market falls behind with the electric car, the country’s industry will be the one that loses, leaving China’s leadership in this regard even more on a plate. “You don’t want to be the last country with a strong fossil fuel industry,” they warn from the United States.

Related Post