Three months into his presidency, Donald Trump’s impact has been nothing short of disruptive. From century-old alliances being tested to a fundamental shift in global trade, few sectors have been spared, including the green tech industry. His recent tariffs on steel and aluminum have targeted the US’s efforts to decarbonize its steel industry. This has resulted in analysts warning that the nascent U.S. green steel industry could be sidelined, missing out on critical decarbonizing opportunities. Moreover, experts warned that these tariffs could undermine global climate action by increasing the costs of renewable energy projects and straining international cooperation on climate initiatives.
Beyond tariffs, Trump has also targeted international development finance. Just weeks into his presidency, the administration enacted a 90-day pause on foreign aid, amidst a review of “all intergovernmental organizations” the U.S. is a part of. This would include organizations such as the World Bank and the Inter-American Development Bank (IDB), which have been vital financiers of clean energy projects throughout the Global South.
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