Experts warn of major ramifications of latest 'sweeping' executive orders: 'The impact of this will be significant'

President Donald Trump has only been in office for weeks, but his administration is already encouraging American auto manufacturers and consumers to transition away from electric vehicles. The moves could have far-reaching ramifications for the auto industry as well as consumers.

What's happening?

As reported by the New York Times, President Trump has signed "sweeping" executive actions targeting incentives and rebates for buying electric vehicles as well as installing fast chargers around the country. He has also set his sights on loans and subsidies aimed at retooling factory assembly lines to center on electric vehicle production.

Many Republicans under Trump have made no secret of their disdain for electric vehicles. They see the shift toward EVs as an example of government overreach and have long sought to reverse the trend to get the focus back to gas-powered vehicles.

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President Trump has sought to reverse the plan that 50% of all vehicles sold in the United States be electric (or hybrid or hydrogen-powered) by 2030. He also sought to revoke generous rebates embedded in former President Biden's comprehensive legislation, the Inflation Reduction Act. Provisions in the law included a $7,500 tax credit for certain buyers who purchased a new qualified electric vehicle, among many other clean-energy incentives.

That being said, changes to the Inflation Reduction Act do require an act of Congress. So while it's not a sure thing President Trump can succeed in reversing all of the rebates, loans, and subsidies, it is fair to say the future of them is very much up in the air right now.

Why are these moves important?

"The impact of this will be significant," said Shay Natarajan, a partner at a private equity firm that invests in sustainable transportation, per the Times.

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The moves are concerning on two fronts. One is economic. Investments in EVs and other clean energy projects are already well established. Reversing course now could lead to big losses for car manufacturers as well as other businesses all along the supply chain. And, of course, the individual costs to consumers are also potentially extensive. No rebates or subsidies quite simply lead to more expensive cars.

A switch away from electric vehicles is also expensive on another front. Traditional cars require costly gas and maintenance compared to electric vehicles.

What can I do to help?

The power of our wallets remains an effective tool. Despite the challenges, individual consumers can still purchase electric vehicles, which will help demonstrate these cars are very much in demand. We can also support policymakers and organizations who are fighting hard to decrease our focus on dirty energy — pollution from which is associated with millions of premature deaths — and shift our attention to a more sustainable, healthier future.