President Trump's trade policies, including tariffs on imports critical to clean energy, are anticipated to raise production costs for renewable energy dramatically. Despite efforts to promote fossil fuels, these tariffs could make natural gas and oil production more costly as well. Industry experts warn that the combination of rising material costs and trade tensions could severely disrupt supply chains, impacting not only the U.S. energy landscape but also international export relations, especially if retaliatory tariffs from Europe or China emerge.
The trade war is expected to drive up the costs of nearly every component of clean-energy production in the U.S., from the steel blades of wind turbines to electric vehicle batteries.
Vanessa Sciarra expressed that policy whiplash was endangering Americans' access to affordable and reliable energy by severing supply chains crucial for renewable energy.
Experts believe rising costs for materials won't affect just renewable energy but also make fossil fuels more expensive, contradicting the president's pledge to lower these costs.
The possibility that China or the European Union could impose retaliatory tariffs on American fossil fuels might further dent the export growth prospects.
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