The Biden administration has reached a major milestone by committing $100 billion in clean energy grants under the IRA! and by the end of Biden’s term in January 2025! more than 80% of the available funding through the IRA grant programs is expected to be distributed.
While a complete repeal of the law is unlikely (especially Expected legislative initiatives considering that 80% of IRA investments are directed to states with a Republican majority )! changes to individual provisions are possible! such as:
Elimination of the $7!500 tax credit for the purchase of electric vehicles
Redirecting IRA subsidies for green technologies to other priorities! including traditional energy and mining.
On November 15! the House of Representatives voted on two “energy” bills. One of them! H. R. 8446 (Critical Minerals Sequencing Act of 2024) ! amends the Energy Act of 2020. According to the text! all critical materials identified by the Expected legislative initiatives Department of Energy (DOE) would be added to the United States Geological Survey (USGS) list of critical minerals.
This could change the outlook for five materials that are not currently on the USGS list:
Materials included on the USGS list receive significant office 365 data benefits! such as:
Tax credits.
Accelerated obtaining of permits.
Financial support for project development.
This event should be a significant boost to copper mining in the United States .
Possible consequences of Trump’s policies
The Trump administration’s focus on fossil fuels (and potential IRA redirection) could negatively impact the critical minerals sector! especially small-scale producers. However! initiatives such as adding new materials to the USGS list and streamlining permitting could offset these negative impacts.
Conclusions
The main directions of Trump’s policy will include:
Increasing tariffs ! especially on products from Chinese manufacturers.
Reducing regulations in the mining sector to support the development is divided into domestic production.
This approach will benefit US producers of critical minerals and foreign companies that already have a presence in the US. At the same time! it may negatively affect producers from Australia and the EU that depend on exports to the US. Unfortunately! it is worth recognizing that the models of interaction between Ukraine and the United States! especially those aub directory listed in Point 4 of the President’s Victory Plan! are under threat. Business and government representatives urgently need to consolidate their forces (especially diplomatic ones) to maintain the favorable attitude of the main technological and financial donor for the future development of the domestic industry.
