A President Trump order halting funding from America’s $557 billion climate and industry program will be limited to climate change mitigation and electric vehicles programs, the Whitehouse clarified overnight, as experts doubt a major claw back of the landmark industry funding.
The guidance came after concerns of a full shutdown of disbursement from the US Inflation Reduction Act (IRA), which is also pouring billions into green hydrogen, critical minerals, manufacturing and research commercialisation.
While the funding freeze is less severe than first feared, it still disappointed some policy experts. Others are more hopeful the new era of intervention will withstand the new administration and could even present new opportunities for Australia.
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