President-elect Donald Trump will return to the White House on Jan. 20, as President Joe Biden moves out, with the White House set to revert to how it was four years ago in more ways than one. Trump's famous Diet Coke button will be one of the things returning, according to a report from the Daily Mail. The red button, which was on the Resolute Desk in the Oval Office, summoned a butler to bring Trump his favorite drink when pressed. Trump's Diet Coke button was removed by Biden shortly after taking office in 2021. Other previous arrangements of furniture and portraits will also return to how they were under Trump's first administration, the outlet reported. The quick transition will mark a tradition of the peaceful transfer of power, which holds less fanfare than the inauguration ceremony on the west front of the Capitol Building. Trump and incoming first lady Melania Trump made their mark on the White House in 2020 with various renovations, including to the Rose Garden. Once the turnover happens on Jan. 20, 2025, the White House will look similar to how it previously appeared and will be staffed with many of the same people as his first term. Non-political White House staff largely remains the same throughout the different presidents. During the transition from Trump to Biden four years ago, the Trump White House team prepared to leave the executive mansion even as the then-president continued to contest his election loss. In the weeks before Trump's Jan. 20, 2021, exit, White House staff moved things out of the office buildings and residential parts of the mansion. By the time Biden arrived at the White House after being sworn in, much of his stuff was being moved into the executive mansion. The move-out process for the outgoing president concludes when he is out of office, and the move-in process begins for the newly sworn-in president at 12:01 p.m. when his items are unpacked from moving vehicles and put in their place. A 2021 report from the New York Times says the process of moving out one president, deep cleaning the residence, and moving in another president takes roughly five hours. The White House staff of roughly 90 people packed and unpacked the president's belongings and stock and rearranged the White House to the incoming president's liking. Previous transitions between administrations at the White House have had oddities. When President Bill Clinton moved out of the White House in January 2001, newly inaugurated President George W. Bush and his staff were greeted with an executive mansion with roughly $15,000 in damage , according to a General Accounting Office report. The incoming Bush administration accused the outgoing Clinton administration of vandalizing offices in the White House, among other damage to the executive mansion. CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER The transitions from Bush to President Barack Obama and from Obama to Trump were less controversial than the Clinton to Bush changeover. Biden's exit from the White House will also likely come with additional scrutiny after the outgoing president and the incoming president's records with the handling of classified documents after leaving office came under scrutiny in recent years.S&P/TSX composite rises Thursday, U.S. markets downMUMBAI: India's market regulator, the Securities and Exchange Board of India (SEBI), is investigating allegations against Gautam Adani in the backdrop of the arrest warrant issued by a US court against the billionaire. The U.S. Securities and Exchange Commission (SEC) has alleged in its indictment that the Adani Group had paid Rs 2,092 crore in bribes to Indian politicians and officials to secure contracts for selling solar energy generated by Adani Green Energy company at higher prices. It is also alleged that the Adani Group then raised investments in the United States by concealing this. In connection with this, a New York court has issued an arrest warrant against Gautam Adani and Sagar Adani, who is his nephew and the Executive Director of the Green Energy company. Charges have been filed against seven top executives of the Adani Group, including the two. SEBI will be examining whether the Adani Green Energy company had failed to inform investors about the details of the inquiry being conducted by the U.S. Department of Justice regarding bribery allegations. SEBI has directed the Indian stock exchanges, BSE and NSE, to provide information in this regard within two weeks. Did not disclose investigation details In March last year, FBI officials had arrived at Sagar Adani's residence in the US, served a search notice and seized some electronic devices. The US anti-corruption law mandates that such information be disclosed to investors. It is alleged that the Adani Group has violated this requirement.
Global Blockchain Show Focuses on UPTX: Promoting Global Financial Inclusion and Trust Reconstruction 12-17-2024 09:46 PM CET | Business, Economy, Finances, Banking & Insurance Press release from: Getnews / PR Agency: SHENZHEN HMEDIUM INFORMATION TECHNOLOGY CO.,LTD The Global Blockchain Show is undoubtedly one of the most influential and grand events in the blockchain and Web3 space. It is a profound dialogue about future technologies, financial revolution, and decentralized ideals, often hailed as the season finale of the blockchain industry. Held in Dubai from December 12 to 13, 2024, this heavyweight global blockchain event attracted top industry leaders, innovators, developers, and blockchain enthusiasts from around the world. Image: https://www.globalnewslines.com/uploads/2024/12/c00807244b2d357d80fbcdaea7cb8661.jpg The event drew over 3,000 Web3 founders, 75 industry giants, 200+ startups, and more than 100 top investors globally. As a Web3 founder's festival, it offered a platform for industry elites from all over the world to engage in 16 hours of full-day interaction, discussing future development directions, technological innovations, and insights into industry trends, alongside the top 1% of figures in the Web3 field. On this stage, industry leaders such as Yat Siu (Co-Founder of Animoca Brands), Rachel Conlan (CMO of BitSafe), and Justin Sun (Founder of TRON) shared their profound insights and forward-thinking views on the future of the industry. These giants' intellectual exchanges and intense discussions provided a roadmap for the future of the blockchain industry. UPTX: The Bright Spotlight at the Global Blockchain Show Image: https://www.globalnewslines.com/uploads/2024/12/f01b28d3e2f097a1a71734497f29cbac.jpg At this summit, the UPTX booth became undoubtedly one of the focal points of the entire event. With a constant flow of people, UPTX's booth attracted the attention of global experts, investors, and media from the blockchain, fintech, and investment sectors. Approaching the booth, one would always see groups of attendees discussing passionately around the display. Cloud service providers, marketing companies, and project teams from potential partners held in-depth discussions with the UPTX team regarding digital asset trading and UPTX's future plans. Investors and industry observers also conducted thorough consultations. Additionally, several YouTubers and KOLs with millions of followers were seen conversing and enthusiastically interacting with the UPTX team, taking photos and engaging with the booth. Image: https://www.globalnewslines.com/uploads/2024/12/cb2320bfca190e065868e60b833dd26d.jpg During the event, the UPTX team established connections with multiple potential partners, engaging in preliminary discussions on how to achieve deeper collaborations within the blockchain space. Numerous institutional investors and key figures in the global financial markets expressed strong interest in UPTX and are looking forward to further talks. Kelly Xu Ke's Speech: Promoting Financial Democratization for Everyone Image: https://www.globalnewslines.com/uploads/2024/12/8377272c17e7af4a40d79a648f4e3667.jpg At 11:35 AM on December 13, 2024, Kelly Xu Ke, Co-Founder and CEO of UPTX, delivered a keynote speech at the Global Blockchain Show, titled "The Trading Ecosystem Revolution: Bridging Novices and Top Experts with 6000+ Global Trading Assets, Driving Financial Democratization for All." Her speech immediately captured the attention of the entire audience. After warmly greeting the attendees, Kelly delved into a deep topic: "Trust is the core of the financial system, and blockchain technology is the tool for building that trust." Kelly shared her journey from being a student to becoming a blockchain entrepreneur. She explained why she wanted to create a platform that was more than just a trading platform: "UPTX is not just another trading platform; it is an ecosystem built on principles of transparency, trust, and accessibility." She elaborated on how UPTX empowers global users through its technology, especially in terms of financial inclusion and trust-building innovations. Image: https://www.globalnewslines.com/uploads/2024/12/eb15eff6738b3b097dd98aeefec3c190.jpg Media Focus: UPTX's Role in the Global Financial System Image: https://www.globalnewslines.com/uploads/2024/12/891c8e81cdf0be41c6bd7a34463d3557.jpg After the speech, Kelly Xu Ke became the center of attention for the media. Journalists from several top blockchain media and fintech websites gathered around her for interviews. She stated during an interview, "We believe that the true value of blockchain technology is not just in the technology itself, but in its ability to bring fairer wealth opportunities to billions of people worldwide." Journalists pointed out that Kelly's speech not only answered questions about how blockchain technology can empower global users, but also emphasized the importance of trust and transparency in digital asset trading. Media representatives were eager to ask her about UPTX's role in the global financial system and how it addresses issues in traditional financial systems. Kelly added, "At UPTX, we focus not only on technological innovation but also on establishing a fair system that provides opportunities for everyone." Image: https://www.globalnewslines.com/uploads/2024/12/8000dd343b96325ad7320d6bb86e26d0.jpg Financial Inclusion and Trust Reconstruction: UPTX's Global Vision Kelly's speech was undoubtedly one of the highlights of the Global Blockchain Show, where UPTX and Kelly Xu Ke demonstrated that they are not only innovators in blockchain technology but also pioneers in building global financial inclusion and trust systems. Through this event, UPTX not only strengthened its connections with global users and investors but also showcased its unique value in the financial sector by offering new investment platforms and opportunities through innovative financial products and decentralized trust mechanisms. Looking to the future, with the continuous advancement and adoption of blockchain technology, UPTX's influence will continue to grow. Kelly Xu Ke and her team will continue to lead the drive for greater transparency and fairness in the global economy. As blockchain technology continues to break new ground, UPTX is not just a trading platform-it will become a bridge connecting global users and investors to the digital economy, helping them overcome traditional financial system barriers and providing more equitable, open financial opportunities. With the further development of decentralized financial systems, UPTX will remain at the forefront of innovation, using its unique technology and ecosystem to drive the global financial revolution. Ultimately, UPTX's vision will come to fruition-truly bringing financial freedom, transparency, and fairness to the world. Disclaimer: This press release may contain certain forward-looking statements. Forward-looking statements describe expectations, plans, outcomes, or strategies for the future (including product offerings, regulatory plans, and business plans) and are subject to change without prior notice. Please be advised that such statements are influenced by various uncertainties, which may result in future circumstances, events, or outcomes differing from those predicted in the forward-looking statements. Media Contact Company Name: UPTX Contact Person: Derrick lee Email: Send Email [ http://www.universalpressrelease.com/?pr=global-blockchain-show-focuses-on-uptx-promoting-global-financial-inclusion-and-trust-reconstruction ] Country: United Arab Emirates Website: https://www.uptx.com/ This release was published on openPR.Players Era Festival organizers betting big NIL is future of college tourneys
Taking a cue from Chandigarh Police’s live demonstration showcased to Prime Minister (PM) Narendra Modi at Punjab Engineering College (PEC), the Uttar Pradesh government plans to set up a similar replica of the demo to showcase the implementation of new criminal laws at the Kumbh Mela scheduled in February next year. The Chandigarh Police will assist the Uttar Pradesh (UP) Police in creating this live demonstration, following the PM’s directive to share the model with all states. It has also been decided by the Centre that a similar demonstration will be set up at all major festivals across the country. On December 3, UT police’s senior superintendent of police (SSP) presented a one-hour live demonstration, simulating a murder crime scene investigation as per the new criminal laws to PM Modi. The demonstration, organised in eight stages, provided the PM with a live experience of how law enforcement, forensic teams, judicial authorities and prisons have become more efficient and technology-driven since the laws’ implementation. The demonstration was the brainchild of SSP Kanwardeep Kaur, who spent two months drafting the script and envisioning how the presentation would be delivered in both audio-visual and physical formats to PM Modi. Now, Chandigarh Police plans to produce two audio-visual films explaining the changes in criminal laws - one tailored for investigating officers and the other for the general public. These films will be circulated nationwide to ensure widespread understanding of the legal reforms. Chandigarh was selected as the model state for the implementation of the new laws and became the first in the country to successfully put them into practice. Over 2,300 attended live demo at PEC Over 2,367 attendees, including officials, general public, college students, and police teams, participated in the live demonstration showcasing the complete investigative and trial process under the newly implemented criminal laws at Punjab Engineering College (PEC) from December 4 to December 10. The exhibition was kept open to the public for a week after PM Modi urged UT police to showcase it across the nation. Various stakeholders, including young superintendents of police, senior police officials, vigilance teams, engineering students, delegation from New Delhi, and residents, actively participated to witness the practical implementation of the new investigative and trial mechanisms.
BUFFALO, N.Y. (AP) — Quion Burns scored 17 points as Maine beat Canisius 84-79 on Saturday. Burns had seven rebounds for the Black Bears (8-5). Kellen Tynes scored 15 points while shooting 5 of 5 from the field and 4 for 4 from the line and added nine assists. Christopher Mantis had 15 points and went 5 of 8 from the field (3 for 5 from 3-point range). Jasman Sangha led the way for the Golden Griffins (0-11) with 26 points and three steals. Paul McMillan IV added 22 points and six assists for Canisius. Tana Kopa also had 16 points and two steals. The Golden Griffins prolonged their losing streak to 11 in a row. Maine plays Saturday against Stony Brook on the road, and Canisius visits Loyola Chicago on Wednesday. The Associated Press created this story using technology provided by Data Skrive and data from Sportradar .Justin Trudeau taking the time to reflect after Chrystia Freeland's departure
Gov. Newsom Addresses Economic Concerns, Unveils $120 Million Jobs PlanThe underlying reason for this slide continuing was a problem long before that. An offense led by dynamic rookie quarterback Jayden Daniels that was among the NFL's best for a long stretch of the season put up just nine points and 169 yards for the first three-plus quarters against Dallas before falling behind 20-9 and teeing off on the Cowboys' conservative defense. “We just couldn’t really get it going,” said receiver Terry McLaurin , whose lengthy touchdown with 21 seconds left masked that he had just three catches for 16 yards through three quarters. “We’ve got to find a way to start faster and sustain drives, and that’s everybody: the whole coaching staff and the offensive players just going out there and figuring out ways that we can stay on the field.” This is not a new problem for Washington, which had a season-low 242 yards in a Nov. 10 home loss to Pittsburgh and 264 yards four days later in a defeat at Philadelphia. Since returning from a rib injury that knocked him out of a game last month, Daniels has completed just under 61% of his passes, after 75.6% over his first seven professional starts. Daniels and coach Dan Quinn have insisted this isn't about injury. The coaching staff blamed a lack of adequate practice time, but a full week of it before facing the Cowboys did not solve the problem. It is now fair to wonder if opponents have seen enough film of offensive coordinator Kliff Kingsbury's system to figure it out. “I think teams and coordinators are going to see what other teams have success against us and try to figure out how they could incorporate that into their scheme," Daniels said after going 12 of 22 for 80 yards passing through three quarters in the Dallas game. "We’ve been in third and longer a lot these past couple games, so that’s kind of where you get into the exotic pressures and stuff like that. We’ve just got to be better on first and second downs and stay ahead of the chains.” Daniels has a point there, and it predates this losing streak. The Commanders have converted just 36% of third-down opportunities (27 for 75) over their past seven games after 52% (31 for 60) in their first five. That challenge doesn't get any easier with Tennessee coming to town Sunday. The Titans, despite being 3-8, have the second-best third-down defense in the league at 31.6%. The defense kept the Commanders in the game against Dallas, allowing just 10 points until the fourth quarter and 20 total before kickoff return touchdowns piled on to the other side of the scoreboard. Even Cooper Rush's 22-yard touchdown pass to Luke Schoonmaker with five minutes left came after a turnover that gave the Cowboys the ball at the Washington 44. The defense spending more than 35 minutes on the field certainly contributed to fatigue as play wore on. The running game that contributed to a 7-2 start has taken a hit, in part because of injuries to top back Brian Robinson Jr. The Commanders got 145 yards on the ground because Daniels had 74 on seven carries, but running backs combined for just 57. Daniels could not say how much the rushing attack stalling has contributed to the offense going stagnant. “You’ve got to be able to run the ball, keep the defense honest,” he said. "We got to execute the plays that are called in, and we didn’t do a good job of doing that.” Linebacker Frankie Luvu keeps making the case to be first-year general manager Adam Peters' best free agent signing. He and fellow offseason addition Bobby Wagner tied for a team-high eight tackles, and Luvu also knocked down three passes against Dallas. Kicker Austin Seibert going wide left on the point-after attempt that would have tied the score with 21 seconds left was his third miss of the game. He also was short on a 51-yard field goal attempt and wide left on an earlier extra point. Seibert, signed a week into the season after Cade York struggled in the opener, made 25 of 27 field goal tries and was 22 of 22 on extra points before injuring his right hip and missing the previous two games. He brushed off his health and the low snap from Tyler Ott while taking responsibility for not connecting. “I made the decision to play, and here we are,” Seibert said. “I just wasn’t striking it well. But it means a lot to me to be here with these guys, so I just want to put my best foot moving forward.” Robinson's sprained ankle and fellow running back Austin Ekeler's concussion from a late kickoff return that led to him being hospitalized for further evaluation are two major immediate concerns. Quinn said Monday that Ekeler and starting right tackle Andrew Wylie are in concussion protocol. It's unclear if Robinson will be available against Tennessee, which could mean Chris Rodriguez Jr. getting elevated from the practice squad to split carries with Jeremy McNichols. The Commanders still have not gotten cornerback Marshon Lattimore into a game since acquiring him at the trade deadline from New Orleans. Lattimore is trying to return from a hamstring injury, and the secondary could use him against Calvin Ridley, who's coming off a 93-yard performance at Houston. 17 — Handoffs to a running back against Dallas, a significant decrease from much of the season before this losing streak. Don't overlook the Titans with the late bye week coming immediately afterward. The Commanders opened as more than a touchdown favorite, but after the results over the weekend, BetMGM Sportsbook had it as 5 1/2 points Monday. AP NFL: https://apnews.com/hub/nfl
Players Era Festival organizers betting big NIL is future of college tourneysBUFFALO, N.Y. (AP) — Quion Burns scored 17 points as Maine beat Canisius 84-79 on Saturday. Burns had seven rebounds for the Black Bears (8-5). Kellen Tynes scored 15 points while shooting 5 of 5 from the field and 4 for 4 from the line and added nine assists. Christopher Mantis had 15 points and went 5 of 8 from the field (3 for 5 from 3-point range). Jasman Sangha led the way for the Golden Griffins (0-11) with 26 points and three steals. Paul McMillan IV added 22 points and six assists for Canisius. Tana Kopa also had 16 points and two steals. The Golden Griffins prolonged their losing streak to 11 in a row. Maine plays Saturday against Stony Brook on the road, and Canisius visits Loyola Chicago on Wednesday. The Associated Press created this story using technology provided by Data Skrive and data from Sportradar .Intel claims retailers are facing high return rates for Snapdragon PCs, Qualcomm denies it
Home inspections can be nerve-wracking for both buyers and sellers. But they’re also a critical part of the process that can protect you in the long run. A good inspection can save you money by asking the sellers to pay for whatever repairs come up in the process, and it gives the peace of mind that your new home will be hazard-free when you move in. Bringing the right questions to your home inspection can set you up for success. Here are some questions you should always ask your home inspector. Your first question should always be “What does the inspection include?” Make sure you have a good understanding of what it includes and what it leaves out so you’re as informed as possible. Ask them for proof of general liability insurance as well as errors and omissions insurance. This insurance protects both you and the inspector in the event they make a mistake (and even the most experienced professionals sometimes make mistakes). When hiring, ask what kind of technology they use. A home inspector’s most vital tools are always their eyes and experience, but some tools help conduct a more comprehensive inspection in a shorter period of time. Common home-inspection tools include thermal imaging, video scopes, drones for an aerial view of the roof, leak detectors, electrical circuit monitors and moisture meters. Keep in mind that while home inspectors are experienced with plumbing and electricity, they’re not usually licensed professionals in those fields. A home inspector can only note visible problems and point you to the right pro to handle them. They’re not likely to detect problems behind the walls without some kind of visible clue, such as stains that indicate leaks. Ask your inspector to identify which issues are the most important ones to fix and which ones are just minor imperfections. Not only is it no problem for you to accompany them on the inspection, it’s often encouraged so you can ask questions and learn about your home and how it works. Pay extra attention to the condition of costly components like the foundation, roof and HVAC system. These components are often difficult and expensive to fix, so you should have a clear understanding of any flaws. Once the inspection is over, ask the inspector what the biggest issues are. They’ll sort through everything they found during the inspection and tell you which problems actually pose a threat. They can also give you an estimated cost of repairs to help you make an informed decision. Afterward, you’ll receive a detailed written report that details their findings and recommendations. Hiring a home inspector usually costs about $450, though the price can change based on specific purposes, home size and where you live. Not all states, cities or municipalities license home inspectors. If your area requires it, verify that your inspector holds the proper licensing. Look for certification from a reputable professional organization such as the American Society of Home Inspectors. Tweet your home-care questions with #AskingAngi, and we’ll try to answer them in a future column. Get local news delivered to your inbox!LAS VEGAS — Players Era Festival organizers have done what so many other have tried — bet their fortunes in this city that a big payoff is coming. Such bet are usually bad ones, which is why so many massive casino-resorts have been built on Las Vegas Boulevard. But it doesn't mean the organizers are wrong. They're counting on the minimum of $1 million in guaranteed name, image and likeness money that will go to each of the eight teams competing in the neutral-site tournament that begins Tuesday will create a precedent for other such events. EverWonder Studios CEO Ian Orefice, who co-founded Players with former AND1 CEO Seth Berger, compared this event to last year's inaugural NBA In-Season Tournament that played its semifinals and final in Las Vegas by saying it "did really well to reinvigorate the fan base at the beginning of the year." "We're excited that we're able to really change the paradigm in college basketball on the economics," Orefice said. "But for us, it's about the long term. How do we use the momentum that is launching with the 2024 Players Era Festival and be the catalyst not to change one event, but to change college basketball for the future." Orefice and Berger didn't disclose financial details, but said the event will come close to breaking even this year and that revenue is in eight figures. Orefice said the bulk of the revenue will come from relationships with MGM, TNT Sports and Publicis Sport & Entertainment as well as sponsors that will be announced later. Both organizers said they are so bullish on the tournament's prospects that they already are planning ahead. Money made from this year's event, Orefice said, goes right back into the company. "We're really in this for the long haul," Orefice said. "So we're not looking at it on a one-year basis." Rick Giles is president of the Gazelle Group, which also operates several similar events, including the College Basketball Invitational. He was skeptical the financial numbers would work. Giles said in addition to more than $8 million going to the players, there were other expenses such as the guarantees to the teams. He said he didn't know if the tournament would make up the difference with ticket sales, broadcast rights and sponsorship money. The top bowl of the MGM Grand Garden Arena will be curtained off. "The math is highly challenging," Giles said. "Attendance and ticket revenues are not going to come anywhere close to covering that. They haven't announced any sponsors that I'm aware of. So it all sort of rests with their media deal with Turner and how much capital they want to commit to it to get these players paid." David Carter, a University of Southern California adjunct professor who also runs the Sports Business Group consultancy, said even if the Players isn't a financial success this year, the question is whether there will be enough interest to move forward. "If there is bandwidth for another tournament and if the TV or the streaming ratings are going to be there and people are going to want to attend and companies are going to want to sponsor, then, yeah, it's probably going to work," Carter said. "But it may take them time to gain that traction." Both founders said they initially were met with skepticism about putting together such an event, especially from teams they were interested in inviting. Houston was the first school to commit, first offering an oral pledge early in the year and then signing a contract in April. That created momentum for others to join, and including the No. 6 Cougars, half the field is ranked. "We have the relationships to operate a great event," Berger said. "We had to get coaches over those hurdles, and once they knew that we were real, schools got on board really quickly." The founders worked with the NCAA to make sure the tournament abided by that organization's rules, so players must appear at ancillary events in order to receive NIL money. Strict pay for play is not allowed, though there are incentives for performance. The champion, for example, will receive $1.5 million in NIL money. Now the pressure is on to pull off the event and not create the kind of headlines that can dog it for years to come. "I think everybody in the marketplace is watching what's going to happen (this) week and, more importantly, what happens afterwards," Giles said. "Do the players get paid on a timely basis? And if they do, that means that Turner or somebody has paid way more than the market dictates? And the question will be: Can that continue?" CREIGHTON: P oint guard Steven Ashworth likely won’t play in the No. 21 Bluejays’ game against San Diego State in the Players Era Festival in Las Vegas. Ashworth sprained his right ankle late in a loss to Nebraska on Friday and coach Greg McDermott said afterward he didn’t know how long he would be out. Get local news delivered to your inbox!AI Is Becoming a Leadership Tool for Young Managers
Incoming U.S. President Donald Trump’s transition team is recommending sweeping changes to cut off support for electric vehicles and charging stations and to strengthen measures blocking cars, components and battery materials from China, according to a document seen by Reuters. The recommendations, which have not been previously reported, come as the U.S. electric-vehicle transition stalls and China’s heavily subsidized EV industry continues to surge, in part because of its superior battery supply chain. On the campaign trail, Trump vowed to ease regulations on fossil-fuel cars and roll back what he called President Joe Biden’s EV mandate. The transition team also recommends imposing tariffs on all battery materials globally, a bid to boost U.S. production, and then negotiating individual exemptions with allies, the document shows. Taken together, the recommendations are a stark departure from Biden administration policy, which sought to balance encouraging a domestic battery supply chain, separate from China, with a rapid EV transition. The transition-team plan would redirect money now flowing to building charging stations and making EVs affordable into national-defense priorities, including securing China-free supplies of batteries and the critical minerals to build them. The proposals came from a Trump transition team charged with crafting a strategy for swift implementation of new automotive policies. The team also calls for eliminating the Biden administration’s $7,500 tax credit for consumer EV purchases, a plan that Reuters first reported last month. The policies could strike a blow to U.S. EV sales and production at a time when many legacy automakers, including General Motors GM.N and Hyundai 005380.KS, have recently introduced a wider array of electric offerings to the U.S. market. Jason Miller, a Trump transition senior adviser, said on Tuesday that the recommendations come from “outsiders who have no role in charting administration policy.” Cutting government EV support could also hurt sales of Elon Musk’s Tesla TSLA.O, the dominant U.S. EV seller. But Musk, who spent more than a quarter-billion dollars helping to elect Trump, has said that losing subsidies would hurt rivals more than Tesla. The transition team calls for clawing back whatever funds remain from Biden’s $7.5 billion plan to build charging stations and shifting the money to battery-minerals processing and the "national defense supply chain and critical infrastructure.” While batteries, minerals and other EV components are “critical to defense production,” electric vehicles “and charging stations are not,” the document says. The Defense Department in recent years has highlighted U.S. strategic vulnerabilities because of China’s dominance of the mining and refining of critical minerals, including graphite and lithium needed for batteries, and rare-earth metals used in both EV motors and military aircraft. A 2021 government report said the U.S. military faces “escalating power requirements” for weapons and communication equipment, among other technologies. “Assured sources of critical minerals and materials” are “critical to U.S. national security,” the report found. Trump transition spokeswoman Karoline Leavitt said voters gave Trump a mandate to deliver on campaign promises, including stopping government attacks on gas-powered cars. "When he takes office, President Trump will support the auto industry, allowing space for both gas-powered cars and electric vehicles," Leavitt said in a statement. ALLOWING MORE TAILPIPE POLLUTION Automakers globally have been shifting toward electric vehicles in part to comply with stricter government limits on climate-damaging tailpipe pollution. But the transition team recommendations would allow automakers to produce more gas-powered vehicles by rolling back emissions and fuel-economy standards championed by the Biden administration. The transition team proposes shifting those regulations back to 2019 levels, which would allow an average of about 25% more emissions per vehicle mile than the current 2025 limits and average fuel economy to be about 15% lower. The proposal also recommends blocking California from setting its own, stricter vehicle-emissions standards, which more than a dozen other states have adopted. Trump barred California from setting tougher requirements during his first term, a policy that Biden reversed. California has asked the U.S. Environmental Protection Agency for another waiver to incorporate a stronger set of requirements beginning in 2026, which would eventually require all vehicles to be electric, plug-in hybrid or hydrogen-powered by 2035. The Biden administration’s EPA has not approved California’s request. Many of the transition-team proposals appear aimed at encouraging domestic battery production, primarily for defense-related interests. Others appear aimed at protecting automakers, even those producing EVs, in the United States. The proposals include: – Instituting tariffs on “EV supply chain” imports including batteries, critical minerals and charging components. The proposal viewed by Reuters said the administration should use Section 232 tariffs, which target national security threats, to limit imports of such products. The Biden administration recently increased tariffs on Chinese imports of several mentioned in the Trump-transition document, including lithium-ion batteries, graphite and “permanent magnets” used in EV motors and military applications. Those tariffs were issued on economic rather than security grounds. – Waiving environmental reviews to speed up “federally funded EV infrastructure projects,” including battery recycling and production, charging stations and critical mineral manufacturing. – Expanding export restrictions on EV battery technology to adversarial nations. – Providing support for exports of U.S.-made EV batteries through the Export-Import Bank of the United States. – Using tariffs as a “negotiating tool” to open foreign markets to U.S. auto exports, including EVs. – Eliminating requirements that federal agencies purchase EVs. A Biden policy requires all federal acquisitions of cars and smaller trucks to be zero-emission vehicles by the end of 2027. – Ending DOD programs aimed at purchasing or developing electric military vehicles. —Reuters
iOS 18.2 Arrives with ChatGPT in Siri, Advanced AI Features, and More!