End of EV subsidies, more tariffs may be on the cards under Trump: Report

Both Trump and Vance have criticised govt's EV subsidies and suggested it should be subsidising US-made internal combustion engine (ICE) vehicles

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The US' Inflation Reduction Act (IRA) and federal EV manufacturing and consumer subsidies could be at risk in the new Donald Trump administration, according to a report on Saturday.

Trump has been very pro-tariff and plans to use tariffs to offset corporate tax cuts, which will likely impact foreign trade, according to a report by Counterpoint Research.