
US Abandons Maglev Train Plans as China Rapidly Develops Technology
Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content.
President Donald Trump's administration pulled funding this week for a proposed high-speed magnetic levitation (Maglev) rail line connecting Washington D.C. and Baltimore.
Transportation Secretary Sean Duffy told The Baltimore Sun on Friday that he couldn't "in good conscience keep taxpayers on the hook" for the 26.6-mile line and cancelled over $26 million in funding.
Newsweek called the Department of Transportation on Saturday outside of regular office hours for comment.
Why It Matters
The United States doesn't currently have any operational high speed rail lines as defined by the International Union of Railways (UIC), but two are currently under construction in California and other projects have been proposed across the nation.
However, supporters of high-speed rail are nervous about the Trump administration's attitude after it revoked $4 billion in federal funding for an under-construction line intended to connect San Francisco and Los Angeles as well as a $63.9 million grant for a project in Texas.
What To Know
The Maglev line was planned to connect Baltimore to Washington D.C. with a journey time of less than 15 minutes using magnetic levitation, a technique that sees trains held above the track by electromagnets removing the friction associated with traditional wheels.
On Friday Secretary Duffy told The Sun that federal funding for the project had been scrapped, commenting: "This project lacked everything needed to be a success from planning to execution. This project did not have the means to go the distance, and I can't in good conscience keep taxpayers on the hook for it."
Stock photograph showing a Maglev line being tested in Japan during 2000.
Stock photograph showing a Maglev line being tested in Japan during 2000.
Noboru Hashimoto/Corbis/GETTY
Two federal grants totaling over $26 million for the project were cancelled, while support was also pulled for an environmental study needed to acquire a construction permit.
Maglev technology has been developed in Japan since 2002 and testing has also taken place in China where one line achieved speeds of over 620 miles per hour, faster than many commercial aircraft.
Maryland Governor Wes Moore was an enthusiastic backer of the project, and in April visited a team working on the technology in Japan where he said: "You have in me, and you have in our team, very excited partners to be able to continue to push forward... We like moving fast, and 315 miles per hour feels about right."
Federal figures show nearly $27 million had been spent on the Maglev project in Maryland.
What People Are Saying
Speaking to Newsweek Professor R. Richard Geddes, a transportation infrastructure specialist at Cornell University, said: "Secretary of Transportation Sean Duffy announced that the federal government will cancel $26 million in funds for Baltimore to DC maglev project. This is welcome news. The extremely expensive maglev train project between Baltimore and Washington D.C. has faced significant delays, cost overruns, and local opposition.
"The passenger rail route from Baltimore to Washington is already well served by both Amtrak and MARC trains. There are also several major highways serving the same route. It is unlikely that, even if completed, that revenue from ridership would be sufficient ridership to even cover that line's operational costs, much less its capital cost.
"There are higher-value passenger rail projects on which this money could be spent to improve Amtrak's service in the Northeast Corridor. That includes increasing track capacity to accommodate more trains and reduce congestion, as well as upgrading tracks to allow higher speeds."
What Happens Next
Work on Maglev technology will continue in Japan and China and other U.S. projects could be proposed at a later date.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
13 minutes ago
- Yahoo
Asian shares track rally on Wall Street that won back most of Friday's wipeout
BANGKOK (AP) — Asian shares advanced on Tuesday, following U.S. stocks higher after they won back most of their sharp loss from last week. Investors appeared to have recovered some confidence after worries over how President Donald Trump's tariffs may be punishing the economy sent a shudder through Wall Street last week. At the same time, a stunningly weak U.S. jobs report Friday raised expectations that the Federal Reserve will cut interest rates at its next meeting in September, potentially a plus for markets. This week's highlights will likely include earnings reports from The Walt Disney Co., McDonald's and Caterpillar, along with updates on U.S. business activity. In Asian trading, Tokyo's Nikkei 225 index gained 0.6% to 40,515.81, while the Kospi in South Korea jumped 1.4% to 3,192.57. In Hong Kong, the Hang Seng rose 0.3% to 24,799.67. The Shanghai Composite index was up 0.5% at 3,602.13. Australia's S&P/ASX 200 jumped 1.1% to 8,759.90, while the SET in Thailand also gained 1.1%. India's Sensex was the sole outlier, losing 0.5% on concerns over trade tensions with the United States, with the Trump administration insisting on cutbacks in oil purchases from Russia. India has indicated that it will continue buying oil from Russia, saying its relationship with Moscow was 'steady and time-tested,' and that its stance on securing its energy needs is guided by the availability of oil in the markets and prevailing global circumstances. 'Trump's threats of 'substantial' tariff hikes on account of imports of Russian crude pose a quagmire for India,' Mizuho Bank said in a commentary. 'Between exacerbated U.S.-imposed geo-economic headwinds and financial/macro setbacks from Russian oil advantages lost, pain will be hard to avert.' On Monday, the S&P 500 jumped 1.5% to 6,329.94. The Dow Jones Industrial Average climbed 1.3%, or 585.06 points, to 44,173.64. The Nasdaq composite leaped 2% to 21,053.58. Idexx Laboratories helped Wall Street recover from its worst day since May, soaring 27.5% after the seller of veterinary instruments and other health care products reported a stronger profit for the spring than analysts expected. The pressure is on U.S. companies to deliver bigger profits after their stock prices shot to record after record recently. Reports from big U.S. companies have largely come in better than expected and could help steady a U.S. stock market that may have been due for some turbulence. A jump in stock prices from a low point in April had raised criticism that the broad market had become too expensive. Tyson Foods likewise delivered a bigger-than-expected profit for the latest quarter, and the company behind the Jimmy Dean and Hillshire Farms brands rose 2.4%. They helped make up for a nearly 3% loss for Berkshire Hathaway after Warren Buffett's company reported a drop in profit for its latest quarter from a year earlier. The drop-off was due in part to the falling value of its investment in Kraft Heinz. American Eagle Outfitters jumped 23.6% after Trump weighed in on the debate surrounding the retailer's advertisements, which highlight actor Sydney Sweeney's great jeans. Some critics thought the reference to the blonde-haired and blue-eyed actor's 'great genes' may be extolling a narrow set of beauty standards. 'Go get 'em Sydney!' Trump said on his social media network. Wayfair climbed 12.7% after the retailer of furniture and home decor said accelerating growth helped it make more in profit and revenue during the spring than analysts expected. Tesla rose 2.2% after awarding CEO Elon Musk 96 million shares of restricted stock valued at approximately $29 billion. The move could alleviate worries that Musk may leave the company. In other dealings early Tuesday, U.S. benchmark crude oil shed 9 cents to $66.20 per barrel while Brent crude, the international standard, gave up 8 cents to $68.68 per barrel. The U.S. dollar was unchanged at 147.09 Japanese yen. The euro slipped to $1.1555 from $1.1573. ___ AP Business Writers Stan Choe and Matt Ott contributed. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Yahoo
13 minutes ago
- Yahoo
Corporate profits are slowing
Shares in American Eagle Outfitters rose nearly 24 per cent yesterday after President Donald Trump called the company's controversial Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Associated Press
15 minutes ago
- Associated Press
Asian shares track rally on Wall Street that won back most of Friday's wipeout
BANGKOK (AP) — Asian shares advanced on Tuesday, following U.S. stocks higher after they won back most of their sharp loss from last week. Investors appeared to have recovered some confidence after worries over how President Donald Trump's tariffs may be punishing the economy sent a shudder through Wall Street last week. At the same time, a stunningly weak U.S. jobs report Friday raised expectations that the Federal Reserve will cut interest rates at its next meeting in September, potentially a plus for markets. This week's highlights will likely include earnings reports from The Walt Disney Co., McDonald's and Caterpillar, along with updates on U.S. business activity. In Asian trading, Tokyo's Nikkei 225 index gained 0.6% to 40,515.81, while the Kospi in South Korea jumped 1.4% to 3,192.57. In Hong Kong, the Hang Seng rose 0.3% to 24,799.67. The Shanghai Composite index was up 0.5% at 3,602.13. Australia's S&P/ASX 200 jumped 1.1% to 8,759.90, while the SET in Thailand also gained 1.1%. India's Sensex was the sole outlier, losing 0.5% on concerns over trade tensions with the United States, with the Trump administration insisting on cutbacks in oil purchases from Russia. India has indicated that it will continue buying oil from Russia, saying its relationship with Moscow was 'steady and time-tested,' and that its stance on securing its energy needs is guided by the availability of oil in the markets and prevailing global circumstances. 'Trump's threats of 'substantial' tariff hikes on account of imports of Russian crude pose a quagmire for India,' Mizuho Bank said in a commentary. 'Between exacerbated U.S.-imposed geo-economic headwinds and financial/macro setbacks from Russian oil advantages lost, pain will be hard to avert.' On Monday, the S&P 500 jumped 1.5% to 6,329.94. The Dow Jones Industrial Average climbed 1.3%, or 585.06 points, to 44,173.64. The Nasdaq composite leaped 2% to 21,053.58. Idexx Laboratories helped Wall Street recover from its worst day since May, soaring 27.5% after the seller of veterinary instruments and other health care products reported a stronger profit for the spring than analysts expected. The pressure is on U.S. companies to deliver bigger profits after their stock prices shot to record after record recently. Reports from big U.S. companies have largely come in better than expected and could help steady a U.S. stock market that may have been due for some turbulence. A jump in stock prices from a low point in April had raised criticism that the broad market had become too expensive. Tyson Foods likewise delivered a bigger-than-expected profit for the latest quarter, and the company behind the Jimmy Dean and Hillshire Farms brands rose 2.4%. They helped make up for a nearly 3% loss for Berkshire Hathaway after Warren Buffett's company reported a drop in profit for its latest quarter from a year earlier. The drop-off was due in part to the falling value of its investment in Kraft Heinz. American Eagle Outfitters jumped 23.6% after Trump weighed in on the debate surrounding the retailer's advertisements, which highlight actor Sydney Sweeney's great jeans. Some critics thought the reference to the blonde-haired and blue-eyed actor's 'great genes' may be extolling a narrow set of beauty standards. 'Go get 'em Sydney!' Trump said on his social media network. Wayfair climbed 12.7% after the retailer of furniture and home decor said accelerating growth helped it make more in profit and revenue during the spring than analysts expected. Tesla rose 2.2% after awarding CEO Elon Musk 96 million shares of restricted stock valued at approximately $29 billion. The move could alleviate worries that Musk may leave the company. In other dealings early Tuesday, U.S. benchmark crude oil shed 9 cents to $66.20 per barrel while Brent crude, the international standard, gave up 8 cents to $68.68 per barrel. The U.S. dollar was unchanged at 147.09 Japanese yen. The euro slipped to $1.1555 from $1.1573. ___ AP Business Writers Stan Choe and Matt Ott contributed.