Trump's victory in the United States could be a heavy blow to battery factories and green steel

Published 22 September 2024 at 16.54

Economics. If Donald Trump regains power in the US, European oil companies benefit, while companies focused on the so-called green transition risk being negatively affected. This is the opinion of several experts that Dagens Industri has spoken to.

Share the article

TwittraShare

Europe's green industry and green power companies, as well as manufacturers of electric cars, could be affected if Trump rolls return parts of Joe Biden's climate package, the Inflation Reduction Act (IRA), the experts believe.

– We expect that sectors such as renewable energy and healthcare will benefit from an administration led by Kamala Harris. With Trump, we expect financial and energy companies, which are heavily regulated, to get a boost thanks to his focus on deregulation, says Jonathan Mackay, US head at Schroders, to DI.

In contrast, UBS believes that the European luxury sector could benefit from lower US taxes under a Trump administration.

Mackay also warns that new tariffs could hit Europe's auto industry hard, a view shared by UBS. On the other hand, according to Nordea's Viktor Sundberg, the pharmaceutical industry could be burdened by democratic price controls.

Green transition

• Kristersson: The state does not enter Northvolt
• All signs of that Northvolt's money has run out
• The Northvolt chaos: "On a European level, eyebrows are frowned"
• "Not long to go" to bankruptcy for Northvolt
• The solar cell giant in bankruptcy – customers lose their money

Show all