Latest news with #TrumpEffect
ABC News
a day ago
- Politics
- ABC News
Trump's America could mean a crossroads for Australia and Canada's political futures
When Australians went to the polls in May, the Labor party achieved a result that didn't seem possible at the beginning of the year. They won in a landslide, and the Liberal party not only lost the election, but opposition leader Peter Dutton lost his seat in parliament. Canada's opposition leader met a similar fate only a matter of weeks before. Just before both the Canadian and Australian elections, Donald Trump was reinstated as the United States' president. His return to power was thought to influence the outcomes of those two elections, leading commentators to coin the term, "the Trump effect". Leo Crabe, a lecturer and independent researcher who specialises in international policy and global affairs, believes voters didn't like what they saw happening in the US from afar. "Voters in both countries saw Trump's nationalism and unpredictability … and instead chose to support different leaders who promised a different approach," he told ABC Radio National's Future Tense. As two current centre-left governments, Australia and Canada share many common features. They're both large countries with geographically dispersed populations, and have a shared British colonial history. So, in a time of global uncertainty, does it make sense for the two nations to build a closer bond for future prosperity? It's been a turbulent time following Trump's return to power, and Crabe says that Canada and Australia have been given a "wake-up call" regarding their countries' relationship with the US. "Canada and Australia are now at a crossroads," he says. "In Canada's case, Trump's tariffs presented an existential economic risk for key sectors of the economy. "Australia, likewise, experienced economic pressure and threats of tariffs from Trump and, for both countries, these threats aren't merely financial." Crabe says they also highlight "the danger of an over-reliance on a partner that has unfortunately become unpredictable". This might be the cause, he suggests, for both countries to re-evaluate their relationship with the superpower. "Neither Canada nor Australia can disregard that partnership [with the US] entirely. But there's a key difference: strong ties don't have to mean subordinate ties," Crabe says. "Canada and Australia can strengthen their own positions by actively building new partnerships." He proposes that by coming together, the nations can step into a greater united leadership and have a bigger footprint on the international political stage, protecting themselves from a less predictable US force. "This will make us less vulnerable to US policy and position them [Canadians] to engage with the US from a point of strength," Crabe adds. Based on their similarities Canada and Australia are natural political partners, but when it comes to trade, they're competitors. The insidious nature of our algorithmic feeds Both countries prioritise the export of raw materials, which could be an issue when relying on US trade. Enter "Ozanada" a fictional country coined by The Economist Magazine in 2023 to make a point about the way both nations have developed and what could spell problems for them in the future. The University of Sydney's special innovation advisor, Roy Green, says an over-reliance on raw exports and an under-fed innovation sector threatens to hold "Ozanada" back. "It's partly because we have smaller populations that can't sustain as much competition, but it does stifle the prospect of greater innovation because competition is essential to that," Professor Green says. "We have made ourselves the victims of the resource curse, which is not a naturally occurring phenomenon. It's a political choice." Canada and Australia are already partners in many military initiatives, including intelligence. Both nations are currently members of the Five Eyes intelligence alliance, along with New Zealand, the United Kingdom and the United States. It represents a long-standing agreement for cooperation in intelligence gathering and analysis, primarily focused on signals intelligence. In comparison, the idea of CANZUK (Canada, Australia, New Zealand and the UK) has been around since the late 1960s, and proposes a stronger political and economic alliance between the countries. Critically, it wouldn't include the US. "The idea really would be to identify each other as best mates in the world and to draw closer together over time," says economist Andrew Lilico. When Canada recently purchased Australia's Jindalee Operational Radar Network (JORN), a vast radar system that lets Australia monitor the sky and sea thousands of kilometres away, it shocked international security experts. "It was something that kind of came out of left field," says Wesley Nicol, a foreign policy expert from Carleton University in Canada. "The reason why this matters so much is not only because it's Australia's largest defence export ever, but because one of the pressures that Canada has been facing from the United States is to not only spend more on defence, but specifically to increase capabilities in the Arctic." Dr Lilico agrees that the swift purchase of JORN by Canada's new Prime Minister Mark Carney may relieve some of the pressure the country is receiving from the US. It's another example of the two nations working together for future benefit, and excluding the US. CANZUK supporters, like Dr Lilico, believe this could be an ideal moment for the alliance to be realised. He says that Trump's behaviour and policies have led many to see that the US "isn't similar in its outlook" and "isn't really a reliable partner". #newsletter:abc-radio-national_optin
Wall Street Journal
4 days ago
- Business
- Wall Street Journal
Trump Effect Starting to Show Up in Economic Data - What's News
A.M. Edition for July 16. New economic data is starting to reflect the president's tariff and immigration policies, which are filtering through to price tags and weighing on the job market. Plus, President Trump is expected to sign an executive order to help make private-market investments more available to 401(k) plans . And from golf to flattering text messages, WSJ's chief European political correspondent Bojan Pancevski explains how a charm offensive by EU leaders has helped turn President Trump against Vladimir Putin . Azhar Sukri hosts. Full Transcript This transcript was prepared by a transcription service. This version may not be in its final form and may be updated. Luke Vargas: Hey, it's Luke Vargas, and before we start the show today, I've got a little announcement, which is that I'm going on parental leave, or should I say I'm actually already on it, which means you won't be hearing from me for a few months. While I'm out, Azhar Sukri will be filling in for me until early winter. You're in great hands until then, and I'll be back before you know it. And with that, over to the What's News team for today's episode. Azhar Sukri: It's being called the Trump Effect. The President's policies are starting to show up in inflation and employment. Plus, the Trump Administration is planning on making it easier for your retirement plan to invest in private markets and Europe's charm offensive. We look at how flattery and backchanneling with Washington could help Ukraine. Bojan Pancevski: Mark Rutte, the chief of NATO, he sent flattering text messages to Trump. The president of Finland, he's a great golf player, so they played this tournament in Trump's golf club in Florida, and ever since, they've been actually talking on the phone, communicating quite intensely. Azhar Sukri: It's Wednesday, July the 16th. I'm Azhar Sukri for The Wall Street Journal. Here is the A.M. Edition of What's News, the top headlines and business stories moving your world today. New data show that President Trump's policies, particularly on tariffs and immigration, are starting to be reflected in the economy. As we reported on our P.M. show yesterday, the June inflation report, one of the key measures that economists and investors watched closely, was up in line with analysts' expectations of a 2.7% annual increase. However, Journal markets reporter, Caitlin McCabe, says that under the surface there are signs that Trump's policies are beginning to bite. Caitlin McCabe: There were price bumps on what Americans pay for key imports such as furniture and clothing. Meanwhile, another closely-watched indicator of economic health is the labor market, and that is starting to show some cracks too. Employment growth appears to have slowed in industries that rely heavily on workers who entered the country illegally, and the foreign-born labor force has shrunk significantly since March. Azhar Sukri: Despite these cracks, Americans are still spending and employers are continuing to add jobs. But Caitlin says the big question now is whether this will hold. Caitlin McCabe: Amid all of these tariff announcements, it's important to keep in mind that the full effect of tariffs might not be felt for a little while longer. So much of this situation remains in flux. The tariff rates that we've seen, and the announcements that we've seen, by no means are those final. But economists and others are actually projecting that we could see price increases feed through to households at some point. The Yale Budget Lab, for example, projects that the resulting price increases could amount to the equivalent of a $2,800 hit in yearly household income. And you could see that show up in certain parts of the services sector. Already, Tuesday's inflation report found that services inflation has softened, particularly for shelter, airfares, and hotel rates were also weak. And to bring this conversation full-circle, that could actually soften inflation down the road. Azhar Sukri: Canadian Prime Minister, Mark Carney, has said it may not be possible for Canada to escape U.S. tariffs even if the countries reach a new economic and security pact that has been under negotiation. Trump has given Canada until August the first to reach a deal with the White House on trade or face a higher 35% levy on imports not compliant with the USMCA trade pact. Currently, Canadian goods are subject to Trump's sectoral tariffs, including a 25% tariffs on vehicles made north of the border and a 50% levy on steel and aluminum, of which Canada is the largest foreign supplier. Canada is also a major foreign supplier of copper, which Trump also plans to impose a 50% duty on. In markets news: shares of Dutch chip-making equipment supplier ASML are falling after it said it could no longer guarantee growth in 2026, amid U.S. tariff uncertainty. The stock is down more than 30% over the past 12 months. The warning from ASML comes days after Trump sent a letter to the European Union, threatening 30% tariffs on imports from the bloc, beginning August the first as trade talks between Brussels and Washington continue. A group of EU trade negotiators are in Washington today. On Monday, the bloc proposed retaliatory tariffs targeting U.S. imports in a bid to revive talks, including on aircraft and alcohol, but said it doesn't plan any countermeasures before Trump's deadline. In the U.K., inflation rose unexpectedly in June, echoing the situation in the U.S. where prices rose among items sensitive to Trump's tariffs, such as toys and clothes. The rise will likely keep policymakers at the Bank of England cautious despite a limping economy, stoking fears of entrenched higher inflation. And earnings season continues today with reports expected from Bank of America, Morgan Stanley, Goldman Sachs, and Johnson & Johnson. After yesterday's consumer price index, print will also get another U.S. inflation gauge for June. This time for producer prices. We are exclusively reporting that President Trump is expected to sign an executive order to help make private market investments more available to U.S. retirement plans. That's according to people familiar with the matter, who added that the order would instruct the Labor Department and the Securities and Exchange Commission to provide guidance to employers on including investments like private assets in 401 (k) plans. Although retirement plan sponsors can already put some investments in private funds, many companies have been concerned about being sued by employees over higher fees associated with private market investment products. The details of the order aren't yet final and are still subject to review. Coming up, how a surprise late-night phone call on German Chancellor Friedrich Merz cell phone signaled a turn in U.S.-European relations over Ukraine. That story after the break. A European charm offensive aimed at getting Trump to toughen his stance against Russia seems to be working. Earlier this week, Trump set a fifty-day deadline for Putin to begin negotiating in earnest; announced a major arms package for Ukraine to be financed by NATO countries and threatened to impose additional economic sanctions on Moscow if it didn't move to end the war. And now we report that European back-channel contacts with the Trump Administration, direct diplomacy and a multi-billion-dollar deal for U.S. weapons have helped align Washington and Europe on arming Ukraine. Bojan Pancevski is the Journal's chief European political correspondent. Bojan, talk us through what we know about how European leaders have steered Trump's thinking on Ukraine. Bojan Pancevski: Well, they worked really hard in the past couple of months or so to essentially get him to acknowledge that Putin is not really interested in negotiating peace in Ukraine and is only interested in grabbing land. This is an early bet that the European leaders made when Trump came into office in January. They worked at all levels. The finance minister of Germany was working with the Secretary of Treasury, kind of back-channeling. The Secretary of Treasury, Bessent, emerged as actually a proponent of the sanctions and of a tougher stance towards Putin. So he seems to have worked behind the scenes to persuade President Trump to take that tougher stance. They worked with Congress, they worked with the Senate, they worked with Marco Rubio, the Secretary of State, who's also kind of positively predisposed towards Kyiv, I suppose. And at the end, I think we saw on Monday when Trump, for the first time, openly threatened Putin with a specific measure that in 50 days he would impose these very heavy economic measures on every country that buys energy from Russia. And he also pledged to open the floodgates for exporting American weapons to Ukraine, provided that NATO countries pay for them. Azhar Sukri: You mentioned about the money there. That's absolutely crucial, I think, to this deal, but also, the different European countries have been taking slightly different approaches, haven't they? Bojan Pancevski: Yes, exactly. You've got Mark Rutte, the chief of NATO. He's a former Dutch prime minister of many years, and now he's head of the military alliance. And he sent flattering text messages to Trump, praising his role in getting the Europeans to spend more on defense, which they did. All of them pledged to spend around 5% of their GDP on defense, which is a major boon for Trump. The president of Finland visited Trump, and he's a great golf player. So they played this tournament in Trump's golf club in Florida and apparently won the tournament in doubles, Trump and President Stubb. So that was a great thing for Trump. He tweeted extensively about it. And, ever since, they've been actually talking on the phone, communicating quite intensely. Azhar Sukri: And you report that Germany's leader has also been key to all of this. Bojan Pancevski: So, Merz has emerged as the kind of new leader in Europe, and he's also got access to much more money than his predecessor because they changed the German constitution and made themselves able to borrow from the markets in order to give Ukraine what it needs to defend itself. He made certain fortune in the private sector. He pilots his own airplane. So he's a figure that I think Trump understands. Last Friday, the 11th of July, Trump was watching television apparently, and he saw some footage of this horrible destruction wrought by Russian aerial attacks on Ukraine. And he picked up his mobile phone, and he just called Friedrich Merz out of the blue, and he immediately agreed to an offer that Merz had previously made to buy American Patriot system, the famous aerial defense that Ukraine desperately needs. So that was a great success and things like that eventually led to this change of tack that we are seeing now. So, for my report, the White House spokeswoman said that Trump is now exporting weapons to Ukraine in order to stop the killing. That's a major, major shift in rhetoric because I think a couple of months prior they were saying that weapons will bring nothing and that diplomacy is required. And I think now they've come to the conclusion that Putin is not really interested in diplomacy, he's interested in winning more land, and therefore they've changed to a position that's much closer to that of the Europeans. And, of course, all of that must be followed with a ginormous caveat that we don't actually know what Trump will do next. So this week it seems like the Europeans feel fairly triumphant, with the caveat that you never know what happens next. Azhar Sukri: Bojan Pancevski, thank you so much. Bojan Pancevski: Thank you for having me on. Azhar Sukri: And that's it for What's News this Wednesday morning. Today's show was produced by Kate Bullivant. Our supervising producer was Daniel Bach. I'm Azhar Sukri for The Wall Street Journal. We'll be back tonight with a new show. Until then, thanks for listening.
Washington Post
4 days ago
- Business
- Washington Post
In Pennsylvania, Trump touts jobs, hails ‘AI technological revolution'
President Donald Trump traveled to Pennsylvania Tuesday to claim credit for billions of dollars in investments that companies have planned, which he said would make the key swing state 'a leading hub' for energy and artificial intelligence. The visit was the latest effort by the White House to tout what the president and his aides call the 'Trump Effect.' Many of the deals for which the president has taken credit predate his presidency, however, or are part of companies' existing plans to partake in the AI gold rush.
Hindustan Times
6 days ago
- Business
- Hindustan Times
Trump Is Taking Credit for New U.S. Factories. Does He Deserve It?
The White House has an explanation for the nearly $2 trillion of manufacturing-related projects announced since the start of the year. It's the Trump Effect. 'They're really coming in fast,' Trump said at an April event with business leaders. 'Some of them don't bother calling us. Some of them don't even want meetings. They just start their plants and start their factories.' The White House maintains a running list of U.S.-based investments it says have been spurred by Trump's commitment to revitalizing American industry. Nearly 80 projects are included, from factories to data centers to a liquefied natural gas facility. The Wall Street Journal examined the manufacturing-related projects on the administration's list that involved investments of at least $1 billion. Of those 33 projects, some involve R&D, equipment and machinery investments that are in line with the companies' typical spending. Others were in the works well before Trump was elected. A White House spokesman said Trump has been 'a critical catalyst converting hypothetical discussions into firm investment commitments.' Drones, AI and ketchup Defense technology company Anduril Industries, founded by Trump supporter Palmer Luckey, said last August that it had raised more than $1 billion to build a plant that will make autonomous weapons systems. Just before Trump's January inauguration, Anduril said it would put the factory in Ohio. The White House later added the project to its list of manufacturing wins. An Anduril spokeswoman said while planning for the factory preceded Trump's presidency, he helped to build momentum around the project. 'The Trump administration is creating conditions for innovation and manufacturing to thrive,' she said. In February, Apple said it would spend $500 billion in the U.S. over the next four years to support efforts in artificial intelligence, silicon engineering and skills development for students and workers. Apple's spending pledge, which later made the White House list, is roughly on track with its recent investments. The company has spent about $1.1 trillion over the past four fiscal years on operating expenses and capital expenditures, and analysts project about $1.3 trillion in spending over the next four years. About 40% of Apple's revenue comes from the Americas, and a similar proportion of projected expenses would equal a little over $500 billion. 'Some of that's just existing R&D that would have been spent anyway,' said William Kerwin, senior equity analyst at Morningstar. Apple didn't respond to a request for comment. Ketchup and macaroni maker Kraft Heinz in May told Reuters it would spend $3 billion to upgrade its U.S. plants, seeking efficiency gains that could help offset Trump's tariffs. The company, which normally invests $1 billion a year on capital projects, said the investment would stretch over five years but wouldn't result in new jobs beyond construction work. The White House a day later included the company's planned investment among a number of corporate announcements that it said showed that Trump's policies are paying off. Doubling down on Trump Some companies on the White House list have name-checked Trump in their announcements. Taiwan-based GlobalWafers, which makes the silicon wafers used in semiconductor manufacturing, said in May it intends to spend $4 billion to expand a just-opened, $3.5 billion Texas factory 'in alignment with market growth and Trump administration priorities.' Brent Omdahl, the company's senior vice president for government affairs, said the Trump administration has simplified reporting requirements and trimmed other red tape around a $406 million Chips Act grant awarded during former President Joe Biden's tenure. 'This is saving us time and money,' Omdahl said. Kraft Heinz, which normally invests $1 billion a year on capital projects, said it would spend $3 billion to upgrade its U.S. plants. Pratt Industries, a packaging manufacturer owned by Trump backer Anthony Pratt, said at a White House event in April that it would invest $5 billion and create 5,000 U.S. manufacturing jobs to support Trump's call to reindustrialize America. In 2022, when Biden was president, Pratt pledged to invest $5 billion, spread over 10 years. Since then, according to the company's website, it has opened four new plants, spending between $120 million and $700 million on each. The April commitment, Pratt said, comes on top of its earlier pledge. 'Because of our confidence in President Trump, we're doubling down on the investment, in the same period of time,' a company spokesman said. Chipping in In April last year, semiconductor company Micron Technology said it received $6.1 billion in Chips Act funding to support its roughly $50 billion investment in manufacturing facilities in New York and Idaho, part of a potential $125 billion investment over the next two decades. The company thanked the Biden administration for supporting investments that 'will ensure U.S. semiconductor competitiveness for generations to come.' This June, Micron announced an expanded U.S. investment commitment of approximately $200 billion. That included $30 billion in manufacturing investment beyond its earlier plans, along with $50 billion for research and development. The company thanked President Trump for his support. The Trump administration added Micron's $200 billion total to its list. The company declined to comment further. Chip maker Taiwan Semiconductor Manufacturing Co. last year received $6.6 billion in funding from the Chips Act. In March, TSMC announced plans to invest an extra $100 billion in chip-manufacturing plants in the U.S. over the coming years, which the White House added to its list. The company made the move based on the needs of customers, who value geographic flexibility, Chief Executive C.C. Wei said in an April earnings call. He said that the investment came with 'strong collaboration and support from our leading U.S. customers and the U.S. federal, state and city government.' Solar winds Trump is far from the first politician to claim credit for economic gains and corporate investment that already were under way. Biden touted creating millions of jobs during his administration, though the economy also benefited from the U.S.'s postpandemic rebound and stimulus efforts passed in Trump's first term. One project highlighted by the Trump White House could be challenged by the president's policies. Glass manufacturer Corning this year said it would increase its investment to $1.5 billion in a Michigan factory that will make solar components. Wendell Weeks, Corning's CEO, said during the April announcement that the expansion was a response to increasing demand for U.S.-made solar products. The White House added the project to its list. Trump's recently passed budget bill will end tax credits for residential and large-scale solar projects. Analyst Paula Mints said the bill and a subsequent executive order targeting green energy will add economic risks for solar manufacturers. Corning said solar remains one of the fastest-growing energy sources, and that 80% of the new factory's capacity is spoken for through 2030. Write to John Keilman at and Harriet Torry at
Mint
13-07-2025
- Business
- Mint
Trump is taking credit for new US factories. Does he deserve it?
The White House has an explanation for the nearly $2 trillion of manufacturing-related projects announced since the start of the year. It's the Trump Effect. 'They're really coming in fast," Trump said at an April event with business leaders. 'Some of them don't bother calling us. Some of them don't even want meetings. They just start their plants and start their factories." The White House maintains a running list of U.S.-based investments it says have been spurred by Trump's commitment to revitalizing American industry. Nearly 80 projects are included, from factories to data centers to a liquefied natural gas facility. The Wall Street Journal examined the manufacturing-related projects on the administration's list that involved investments of at least $1 billion. Of those 33 projects, some involve R&D, equipment and machinery investments that are in line with the companies' typical spending. Others were in the works well before Trump was elected. A White House spokesman said Trump has been 'a critical catalyst converting hypothetical discussions into firm investment commitments." Defense technology company Anduril Industries, founded by Trump supporter Palmer Luckey, said last August that it had raised more than $1 billion to build a plant that will make autonomous weapons systems. Just before Trump's January inauguration, Anduril said it would put the factory in Ohio. The White House later added the project to its list of manufacturing wins. An Anduril spokeswoman said while planning for the factory preceded Trump's presidency, he helped to build momentum around the project. 'The Trump administration is creating conditions for innovation and manufacturing to thrive," she said. In February, Apple said it would spend $500 billion in the U.S. over the next four years to support efforts in artificial intelligence, silicon engineering and skills development for students and workers. Apple's spending pledge, which later made the White House list, is roughly on track with its recent investments. The company has spent about $1.1 trillion over the past four fiscal years on operating expenses and capital expenditures, and analysts project about $1.3 trillion in spending over the next four years. About 40% of Apple's revenue comes from the Americas, and a similar proportion of projected expenses would equal a little over $500 billion. 'Some of that's just existing R&D that would have been spent anyway," said William Kerwin, senior equity analyst at Morningstar. Apple didn't respond to a request for comment. Ketchup and macaroni maker Kraft Heinz in May told Reuters it would spend $3 billion to upgrade its U.S. plants, seeking efficiency gains that could help offset Trump's tariffs. The company, which normally invests $1 billion a year on capital projects, said the investment would stretch over five years but wouldn't result in new jobs beyond construction work. The White House a day later included the company's planned investment among a number of corporate announcements that it said showed that Trump's policies are paying off. Some companies on the White House list have name-checked Trump in their announcements. Taiwan-based GlobalWafers, which makes the silicon wafers used in semiconductor manufacturing, said in May it intends to spend $4 billion to expand a just-opened, $3.5 billion Texas factory 'in alignment with market growth and Trump administration priorities." Brent Omdahl, the company's senior vice president for government affairs, said the Trump administration has simplified reporting requirements and trimmed other red tape around a $406 million Chips Act grant awarded during former President Joe Biden's tenure. 'This is saving us time and money," Omdahl said. Kraft Heinz, which normally invests $1 billion a year on capital projects, said it would spend $3 billion to upgrade its U.S. plants. Pratt Industries, a packaging manufacturer owned by Trump backer Anthony Pratt, said at a White House event in April that it would invest $5 billion and create 5,000 U.S. manufacturing jobs to support Trump's call to reindustrialize America. In 2022, when Biden was president, Pratt pledged to invest $5 billion, spread over 10 years. Since then, according to the company's website, it has opened four new plants, spending between $120 million and $700 million on each. The April commitment, Pratt said, comes on top of its earlier pledge. 'Because of our confidence in President Trump, we're doubling down on the investment, in the same period of time," a company spokesman said. In April last year, semiconductor company Micron Technology said it received $6.1 billion in Chips Act funding to support its roughly $50 billion investment in manufacturing facilities in New York and Idaho, part of a potential $125 billion investment over the next two decades. The company thanked the Biden administration for supporting investments that 'will ensure U.S. semiconductor competitiveness for generations to come." This June, Micron announced an expanded U.S. investment commitment of approximately $200 billion. That included $30 billion in manufacturing investment beyond its earlier plans, along with $50 billion for research and development. The company thanked President Trump for his support. The Trump administration added Micron's $200 billion total to its list. The company declined to comment further. Chip maker Taiwan Semiconductor Manufacturing Co. last year received $6.6 billion in funding from the Chips Act. In March, TSMC announced plans to invest an extra $100 billion in chip-manufacturing plants in the U.S. over the coming years, which the White House added to its list. The company made the move based on the needs of customers, who value geographic flexibility, Chief Executive C.C. Wei said in an April earnings call. He said that the investment came with 'strong collaboration and support from our leading U.S. customers and the U.S. federal, state and city government." Trump is far from the first politician to claim credit for economic gains and corporate investment that already were under way. Biden touted creating millions of jobs during his administration, though the economy also benefited from the U.S.'s postpandemic rebound and stimulus efforts passed in Trump's first term. One project highlighted by the Trump White House could be challenged by the president's policies. Glass manufacturer Corning this year said it would increase its investment to $1.5 billion in a Michigan factory that will make solar components. Wendell Weeks, Corning's CEO, said during the April announcement that the expansion was a response to increasing demand for U.S.-made solar products. The White House added the project to its list. Trump's recently passed budget bill will end tax credits for residential and large-scale solar projects. Analyst Paula Mints said the bill and a subsequent executive order targeting green energy will add economic risks for solar manufacturers. Corning said solar remains one of the fastest-growing energy sources, and that 80% of the new factory's capacity is spoken for through 2030. Write to John Keilman at and Harriet Torry at
