“Trump’s trade war has also damped the market outlook for nuclear power. While not an energy source that has received as much attention from the president as coal, oil, and natural gas, the Trump administration has dispersed federal financing to a nuclear power plant restart in Michigan. Looming tariffs are forcing Hyundai, one of the project’s construction partners, to look to domestic manufacturers. “Tariffs will have an influence on the total price,” a spokesperson for Hyundai told Bloomberg.
Nearly $8 billion worth of other clean energy projects were canceled or downsized in the first quarter of 2025 because of Trump’s tariffs and federal funding freezes. The Commerce Department recently slapped duties as high as 3,521 percent on Asian solar imports after a yearslong trade investigation. While the announcement may benefit domestic manufacturers, it is sure to slow down the deployment of solar panels in the United States.
Trump promised to unleash American energy. However, the president’s heavy-handed, protectionist approach to trade and domestic production in his first 100 days could end up setting American energy back.”