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Trump Is Spending Billions On The Minerals That Power EVs

Summary by Oil Price
For years, U.S. President Donald Trump has openly displayed his disdain for the clean energy and electric vehicle sectors. In the early days of his second term, Trump stalled funding for EV charging infrastructure while pushing fossil fuels. In July 2025, the GOP-sponsored One Big Beautiful Bill Act (OBBBA) rolled back EV incentives from the Inflation Reduction Act, terminating the $7,500 new and $4,000 used EV tax credits in September 2025, and…

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The plan seeks to secure supply chains against China and, while prioritizing the rare earths, gives a strategic boost to the development of lithium and copper in the country. The United States announced a $3 billion investment package to strengthen the supply chain of critical minerals and reduce its dependence on China in industrial and defense inputs. Donald Trump’s administration’s bill includes $1.4 billion for component manufacturers such a…

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Oil Price broke the news in New York, United States on Thursday, August 13, 2026.
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