MIT Technology Review Narrated
How Trump’s tariffs could drive up the cost of batteries, EVs, and more
May 7, 2025
The podcast delves into the economic fallout from potential tariffs imposed by the incoming administration. It highlights how these tariffs could drive up costs for batteries and electric vehicles, affecting the shift to cleaner industries. The discussion also covers the implications for domestic manufacturing and competition in clean tech investments. Additionally, the risks of inflation and the potential stalling of the economy due to increased costs of essential minerals for clean energy technologies are thoroughly examined.
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Quick takeaways
- Proposed tariffs of 10-20% on imports could significantly raise costs for electric vehicle batteries, hindering the clean energy transition.
- The anticipated economic impact of these tariffs could inflate household expenses by $2,600 annually and disrupt overall economic stability.
Deep dives
Impact of Tariffs on Clean Technology Costs
The proposed tariffs by the incoming administration threaten to significantly increase costs for crucial clean technology projects in the U.S. President-elect Trump's plans include hefty tariffs of 10-20% on all imported goods and up to 100% on items from certain countries, which could substantially raise prices for materials critical to the clean energy transition. For instance, electric vehicle (EV) batteries are mostly sourced from China, which produces the majority of battery components. Imposing high tariffs on these imports could double existing costs, hindering the development of low-emission technologies and potentially leading to unaffordable prices for consumers.
