Trump says he would consider ending $7,500 electric-vehicle credit

Republican presidential nominee former President Donald Trump speaks at a campaign event at Precision Components Group, Monday, Aug. 19, 2024, in York, Pa. (AP)
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Updated 20 August 2024
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Trump says he would consider ending $7,500 electric-vehicle credit

  • Trump said that he would rescind the Biden administration rules that will prod automakers to build more EVs and plug-in hybrids to meet stricter emissions standards

YORK, Pennsylvania: Republican presidential candidate Donald Trump said on Monday he would consider ending a $7,500 tax credit for electric-vehicle purchases.
“Tax credits and tax incentives are not generally a very good thing,” Trump told Reuters in an interview after a campaign event in York, Pennsylvania, when asked about the EV credit.
If elected, Trump could take steps to reverse Treasury Department rules that have made it easier for automakers to take advantage of the $7,500 credit or could ask the US Congress to repeal it entirely. While president, Trump sought to repeal the EV tax credit which was later expanded by President Joe Biden in 2022.
“I’m not making any final decisions on it,” Trump said of the EV tax credit. “I’m a big fan of electric cars, but I’m a fan of gasoline-propelled cars, and also hybrids and whatever else happens to come along.”
He added that he would rescind the Biden administration rules that will prod automakers to build more EVs and plug-in hybrids to meet stricter emissions standards.
Trump also said that if elected, he would tap Tesla CEO Elon Musk for a cabinet or advisory role “if he would do it.”
Musk last month publicly endorsed Trump in the US presidential race.
Trump also said on Monday he would take steps to try to limit exports of vehicles produced by the Detroit Three automakers and others from Mexico for USconsumers by imposing new tariffs.
Separately, Trump harshly criticized Alphabet’s Google but declined to say if he thought the company should be broken up after a judge ruled this month the company was an illegal monopoly.
“They’re almost like the Wild West,” Trump said of Google, without elaborating on what penalty it should face. “They’re going to have to pay a great price.”


Changes to US security strategy ‘largely consistent’ with Russia’s vision: Kremlin

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Changes to US security strategy ‘largely consistent’ with Russia’s vision: Kremlin

MOSCOW: Russia has welcomed changes in the US National Security Strategy, saying the adjustments that marked a radical departure from Washington’s previous policy were “largely consistent” with Moscow’s vision.
Washington’s new National Security Strategy, published early Friday, took aim at allies in Europe, calling it over-regulated, lacking in “self-confidence” and facing “civilizational erasure” due to immigration.
The document stated that the United States would also prevent other powers from dominating but added: “This does not mean wasting blood and treasure to curtail the influence of all the world’s great and middle powers.”
Commenting on the new US strategy, the Kremlin’s spokesman Dmitry Peskov said that the current US administration was “fundamentally different from the previous ones.”
“The adjustments we’re seeing, I would say, are largely consistent with our vision,” Peskov said in an interview with state TV station Rossiya aired Sunday.
“President Trump is currently strong in terms of domestic political positions. And this gives him the opportunity to adjust the concept to suit his vision,” Peskov added.
The publication of the updated security strategy came as officials from Kyiv held talks in Florida with Trump’s envoys on the US-drafted plan to end the near four-year war in Ukraine.
Three days of talks produced no apparent breakthrough.
President Volodymyr Zelensky committed to further negotiations toward “real peace,” as Russia in the early hours of Saturday launched another series of drone and missile strikes at Ukraine.
Zelensky is due to meet with European leaders — French President Emmanuel Macron, British Prime Minister Keir Starmer and German Chancellor Friedrich Merz — in London on Monday to take stock of the negotiations.