The article discusses the rationale behind the U.S. tariffs imposed by Trump, which are intended to bolster the domestic economy by promoting local manufacturing and reducing trade deficits. As the U.S. raises tariffs on imports, other nations retaliate, complicating the situation. In an interview, Chris Seiple from Wood Mackenzie highlights how tariffs significantly raise costs for renewable energy industries, further complicated by stringent regulations that utilities must navigate, creating challenges unique to this sector compared to fossil fuels.
"We will supercharge our domestic industrial base," Trump said in an April 2 speech announcing tariffs on nearly every US trading partner.
The second challenge, and this is kind of unique to the power business, is that there's a heavy hand of regulation.
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