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Regulation and caused a severe blow to the global economy. The second presidential tenure witnessed Trump imposing tariffs on nearly all the trading partners including countries like China, Mexico, Canada, Brazil, Japan, India, and the EU. The evolving tariff environment had piled on top of the uncertainties and significantly affected renewable energy, its commodity prices and supply chains.
Tariffs have demonstrated a significant and complex impact on the global renewable energy sector by increasing costs, causing project delays and cancellations, and creating investment uncertainty. While the US’ goal is to stimulate domestic manufacturing, the immediate effect has been a disruption of established supply chains and higher prices for essential components such as solar panels and wind turbines, along with raw materials steel and aluminum, necessary for manufacturing components. Consequently, trade measures have increased the cost of imported inputs, thereby raising overall project expenditures, delaying deployment timelines, and exerting upward pressure on electricity prices.
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