How Trump’s recently passed budget bill will impact US’ EV battery supply chain
The IRA contributed directly to EV sales growth while strengthening EV supply chains in the US. However, removing these credits is expected to raise EV prices for consumers, leading to a significant decline in market demand and sales.
On July 4, US President Donald Trump signed a new federal budget, also called the One Big Beautiful Bill Act, into law. Key priorities include cutting government spending to address the increasing national debt and lowering energy costs through significantly enhancing domestic oil production.
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