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Trump vows to end EV mandate - Latest News - World Business Watch
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7/20/2024
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00:00
Donald Trump's recent declaration to end the electric vehicle mandate if he wins a presidential
00:05
election in November 2024 signals a potential major policy shift. Referring to eco-friendly
00:10
initiatives as green scam ideas, Trump criticized the mandate, which aims for two-thirds of
00:16
all new cars and trucks sold in the U.S. to be electric-powered within eight years.
00:21
From a political standpoint, this stance underscores a sharp contrast with the current administration's
00:26
goals and could resonate strongly with Trump's base.
00:31
Voters skeptical of rapid environmental policy changes and those concerned about the economic
00:36
impact on traditional industries may find his message appealing. This rhetoric may particularly
00:42
resonate with workers in the fossil fuel and traditional automotive sectors who fear job
00:47
losses due to the EV mandate.
00:49
For consumers, eliminating the mandate could mean fewer incentives to purchase electric
00:53
cars, potentially slowing the adoption of cleaner vehicles. This move might appeal to
00:58
those who prefer traditional gasoline-powered vehicles and are wary of the costs associated
01:04
with EVs.
01:05
However, it could also impede progress in the fight against climate change. The automobile
01:10
sector could face significant shifts. Traditional automakers might scale back their EV investments,
01:16
affecting innovation and potentially leading to a competitive disadvantage internationally.
01:22
On the other hand, companies like Tesla, which dominate the EV market, might navigate
01:26
these changes differently. Despite the broader negative impact on the EV industry, Trump's
01:31
proposed tariffs on Chinese EVs could benefit Tesla by reducing competition from lower-priced
01:37
Chinese models.
01:40
Trump's statements highlight a potential pivot in U.S. environmental and economic policies,
01:45
the ongoing political debate over climate change and industrial strategy.
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