US President Donald Trump’s rollback of electric vehicle targets may temporarily slow demand for lithium and other critical minerals, but is unlikely to hamper the mining industry amid surging global EV demand, analysts and industry leaders said.
Trump on Tuesday revoked predecessor Joe Biden’s 2021 executive order that sought to ensure half of all new vehicles sold in the US by 2030 are electric. Automakers had been positioning for a jump in EV demand due largely to that Biden move.
Trump’s order caused shares of Japanese automakers, South Korean battery makers and Australian, US and Chinese lithium miners to slip. But even if EV demand cools in the world’s second-biggest auto market, analysts and industry experts expect traction elsewhere to more than compensate.
For the rest of this article: https://www.reuters.com/markets/commodities/trumps-ev-rollback-not-expected-suppress-appetite-critical-minerals-2025-01-21/