How Trump’s tariffs could drive up the cost of batteries, EVs, and more
https://www.technologyreview.com/2024/11/25/1107224/how-trumps-tariffs-could-drive-up-the-cost-of-batteries-evs-and-more/?utm_medium=tr_social&utm_source=reddit&utm_campaign=site_visitor.unpaid.engagement
by techreview
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**From the article:**
President-elect Donald Trump’s “America First” plan to enact huge tariffs on imported goods threatens to jack up the cost and slow down the development of US cleantech projects.
On the campaign trail, Trump pledged to enact 10% to 20% across-the-board tariffs on all overseas products, 60% to 100% tariffs on Chinese goods, and 25% to 100% tariffs on products from Mexico—the last in part to [prevent the flow of goods](https://www.cnbc.com/2024/09/20/china-mexico-backdoor-trade-booms-in-trump-biden-tariff-era.html) from Chinese companies [setting up manufacturing plants](https://www.cnbc.com/2024/08/23/how-chinese-ev-automakers-are-winning-in-mexico.html) there and in part to force Mexico [to halt migration](https://www.washingtonpost.com/business/2024/11/04/trump-mexico-tariff-trade/) into the US.
These plans could easily add billions of dollars to the prices that US companies—and [therefore consumers](https://taxfoundation.org/blog/trump-tariffs-revenue-estimates/)—pay for batteries and electric vehicles, as well as the steel used to build solar farms, geothermal plants, nuclear facilities, transmission lines, [and much more](https://www.mckinsey.com/industries/metals-and-mining/our-insights/the-raw-materials-challenge-how-the-metals-and-mining-sector-will-be-at-the-core-of-enabling-the-energy-transition).
Trump’s tariffs will likely drive up the cost of everything and it’s the consumers that will pay for it. The beneficiaries will be shareholders and directors of US companies.
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