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Yahoo
34 minutes ago
- Yahoo
New Tariffs Threaten American Battery Production
Trump-era clean energy policies are slamming the breaks on the United States' battery war with China. While lithium-ion batteries were invented in the United States, China has been outpacing the nation in terms of both battery manufacturing and technological innovations. But while U.S. companies have been scrambling to keep up, gutted clean energy incentives and tariffs on critical materials have made a U.S. victory all but impossible. The domestic battery industry had been gaining considerable ground under the Biden administration thanks to major incentives including the sweeping Inflation Reduction Act. Tax credits, in particular, 'helped close the price gap between U.S.-made batteries and those made in China, the world's main supplier of lithium-ion battery modules, cells, and materials,' according to Canary Media. Realizing that the Trump administration would bring a less encouraging policy environment for clean energy technologies, makers of lithium-ion batteries promised the federal government that they would collectively spend a cumulative $100 billion by 2030 to build up an independent and totally domestic grid battery industry. In exchange, they asked for continued political support. So far, that plea seems to be falling flat. Just this month, the Trump administration accused Chinese suppliers of dumping graphite into U.S. markets – meaning that they are selling graphite more cheaply abroad than in their own markets. As a result, the United States has imposed a formidable 93.5 percent tariff on Chinese graphite. This could have immediate and serious consequences for United States batterymakers, as almost all refined graphite in the world comes from China. In fact, this tariff alone could 'easily add $1,000 or more to the price of a battery' according to the New York Times. As a result, the nation's once-thriving 'battery belt' is faltering. 'Projects are being paused, cancelled, and closed at a rate 6 times more than during the same period in 2024,' reports 'The Big Green Machine,' a site affiliated with Wellesley College that tracks domestic clean energy investments. And this biggest projects are the ones suffering most. Politico reports that 'prospects dimmed for 34 projects that are worth more than $31 billion and were expected to create almost 28,000 jobs.' This includes projects that are either paused, canceled, delayed by at least six faced by a slash in funding, or scaled down. But the overall impact of recent political shifts are still unclear, and overall the domestic clean energy sector is still growing. Related: 'The policies Republicans have passed are so recent that they may not have worked their way through the economy,' reports Politico. 'In the last three months, Congress has passed and President Donald Trump has signed bills that removed key tax credits, taken the teeth out of fuel-economy rules and neutered California's ability to force automakers to sell EVs.' Taken together, all of these compounding policy measures create an uncertain policy and investment environment at minimum. More likely, it will cause an extreme contraction of the domestic battery sector at a time when Beijing was already pulling away. "Unquestionably, the Chinese are ahead in manufacturing technology," Bob Galyen, a retired executive who worked with both GM and the Chinese battery giant CATL, told NPR. He says that Chinese battery research and development is receiving major influxes of cash at a time when U.S. manufacturers are struggling for funding. "Clearly, the U.S. is lagging behind,' he finished. Ironically, these measures are hitting Republican districts the hardest. The so-called 'battery belt' is mostly comprised of red states. As a result, according to Politico, 'GOP districts saw 60 percent of the funding decline, while Democratic districts saw 39 percent.' By Haley Zaremba for More Top Reads From this article on 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
Bloomberg
an hour ago
- Bloomberg
Starmer's Complex Palestine Recognition Vow Risks Political Pain Next Month
Keir Starmer aimed to calm domestic criticism that he was failing to take a lead against the crisis in Gaza when he promised to recognize Palestine this week. Now, senior members of his UK government fret that he's set the scene for more political pain next month. The British premier's conditional pledge to recognize Palestinian statehood in September unless Israel agrees to end the conflict in Gaza sparked a backlash from both the left and right of the political spectrum, as well as accusations by the Israeli government, the White House and a British hostage who had been held captive by Hamas, that he risked rewarding terrorism.
Yahoo
an hour ago
- Yahoo
American Eagle Defends Sydney Sweeney Ad Campaign Amid Controversy: ‘Her Jeans. Her Story… Great Jeans Look Good on Everyone'
American Eagle is standing by its controversial ad campaign featuring Sydney Sweeney, which includes various commercials with the tagline: 'Sydney Sweeney Has Great Jeans.' The campaign creates a pun around 'great genes,' which ignited outrage online over American Eagle glorifying the Emmy nominee's white heritage and thin physique. Some users on social media even compared the ads to 'Nazi propaganda.' 'Sydney Sweeney Has Great Jeans' is and always was about the jeans. Her jeans. Her story,' the company said in a statement posted on social media. 'We'll continue to celebrate how everyone wears their AE jeans with confidence, their way. Great jeans look good on everyone. More from Variety JD Vance Urges Democrats Angry Over Sydney Sweeney Jeans Ads to Keep It Up: 'Continue to Tell Everybody' Who Thinks She Is Attractive That They're 'a Nazi' White House Says Liberal Outrage Over Sydney Sweeney's American Eagle Jeans Commercial Is 'Moronic' and a 'Big Reason Americans' Voted for Trump Katy O'Brian Says Sydney Sweeney 'Didn't Care' About Getting Hurt During Fight Scenes in Christy Martin Biopic: 'She Was Like, "If You Break My Nose, That's Fine"' Sweeney's American Eagle campaign caused so much chatter online that even Trump's White House weighed in on the backlash, with communications manager Steven Cheung calling the backlash a prime example of 'cancel culture run amok.' 'This warped, moronic and dense liberal thinking is a big reason why Americans voted the way they did in 2024,' Cheung added. 'They're tired of this bullshit.' Vice president JD Vance also mocked liberals for creating a hysteria around the American Eagle campaign, saying on an episode of the 'Ruthless' podcast: 'My political advice to the Democrats is continue to tell everybody who thinks Sydney Sweeney is attractive is a Nazi. That appears to be their actual strategy.' Vance continued, 'I mean, it actually reveals something pretty interesting about the Dems, though, which is that you have, like, a normal all-American beautiful girl doing like a normal jeans ad, right? They're trying to sell, you know, sell jeans to kids in America and they have managed to so unhinge themselves over this thing. And it's like, you guys, did you learn nothing from the November 2024 election? I actually thought that one of the lessons [Democrats] might take is we're going to be less crazy. And the lesson they have apparently taken is we're going to attack people as Nazis for thinking Sydney Sweeney is beautiful.' Even Stephen Colbert, who frequently speaks out against Trump and the White House, called the backlash against Sweeney and American Eagle overblown 'Now, some people look at [the ads] and they're seeing something sinister, saying that the genes-jeans denim wordplay in an ad featuring a white blond woman means American Eagle could be promoting eugenics, white supremacy and Nazi propaganda,' Colbert said this week on 'The Late Show.' 'That might be a bit of an overreaction.' Sweeney has yet to publicly comment on the outcry over the advertisements. Best of Variety New Movies Out Now in Theaters: What to See This Week What's Coming to Disney+ in August 2025 What's Coming to Netflix in August 2025
