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16 US states sue federal government after Trump suspends EV charging programs
On Tuesday, a group of 16 states plus?the _District of Columbia? sued the U.S. Government after the Trump administration suspended two grant programmes for electric vehicle charging facilities. California Attorney General Rob Bonta stated that Trump's Department of Transportation refused to approve new funding for two electric vehicle charging infrastructure programs created by Congress in 2022 as part of the $1 trillion infrastructure law. In June, an?U.S. In June, a?U.S. Bonta stated that "this is just another reckless attempt to stall the fight for air pollution and climate changes, slow innovation, and thwart creation of green jobs, leaving communities without affordable, clean transportation." One program provides $2.5 billion to cities and states for infrastructure such as EV charging stations and hydrogen fueling. California, Washington, and Colorado filed the suit, claiming that Trump's actions "have placed $1.8 billion of federal awards to dozens state and local governments in danger and made the majority of these funds inaccessible." USDOT declined to comment immediately. Trump has attacked?electric cars on several fronts. The Republican president signed a'resolution of disapproval' under the Congressional Review Act in June to block California’s landmark plan to stop the sale of gasoline only vehicles by 2035 - and two other vehicle regulations. Trump signed legislation to end the $7,500 electric vehicle tax credit. In an effort to encourage automakers to sell gasoline powered cars, Trump proposed this month to slash fuel economy standards set by former President Joe Biden last year. USDOT suspended in February the $5 billion EV Charging Program, which was part of Biden’s Inflation Reduction Act. They also revoked approvals of state spending plans. David Shepardson, Washington; David Gregorio, editing.
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Constellation Energy extends licenses for two nuclear reactors by 20 years
Constellation Energy announced on Tuesday that the U.S. nuclear regulator had approved a?20-year renewal of licenses for its Clinton clean energy center and?Dresden?clean energy center. The U.S. power company will invest over $370 million in relicensing the nuclear plants, to increase efficiency and reliability. The company stated that the approvals would allow Clinton to "operate until 2047" and Dresden reactors through 2049 and 2051. After decades of stagnation in the U.S., nuclear power has experienced a surge. This is due to data centers that are used for artificial intelligence and electrification. In May, President Donald Trump signed executive orders directing U.S. Nuclear Regulatory Commission (NRC) to reduce regulations and expedite new licenses for power plants?and reactors. Constellation Energy's Chief Generation Officer Bryan Hanson said, "These license extension will allow Clinton and Dresden stay online for another two decades. This will preserve more than 2,200 jobs that support families and $8.1 billion in federal, local and state tax dollars." The Big Tech company struck its first nuclear power plant deal in June, when it signed a contract with Meta that would keep one of the utility's Illinois reactors operational for 20 years. (Reporting from Katha Kalia, Bengaluru).
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Gold prices rise as US unemployment rates increase in November
The dollar index fell on Tuesday after the U.S. jobs data showed that the unemployment rate rose from September to October. This boosted bets for rate cuts by the U.S. Federal Reserve. As of 01:48 pm, spot gold rose 0.2%, to $4,310.21 an ounce. ET (18:48 GMT). U.S. Gold futures ended the day 0.1% lower, at $4332.3. The U.S. Dollar fell to a two-month low. This made greenback-priced gold more affordable for buyers overseas. Benchmark yields on 10-year U.S. Treasury notes also?edged down. "The data give the Fed more reasons to cut rates. If they do, it's 'bullish' for gold... That's how the market is interpreting the situation right now," explained RJO Futures Senior Market Strategist Bob?Haberkorn. The U.S. unemployment rate reached 4.6% in November. This was despite the fact that job growth had rebounded. An economist survey estimated that the unemployment rate was 4.4%. The Federal Open Market Committee announced a quarter point rate cut last week. Chair Jerome Powell’s comments accompanying the announcement were perceived to be less hawkish that expected. U.S. Rate Futures still 'expect?two cuts of 25 basis point each in 2026. Pricing in 59bps of easing in 2019 Gold that does not yield tends to do well in a low interest rate environment. Investors are awaiting the Consumer Price Index for November, which is due Thursday, and the Personal Consumption Expenditures Index, due Friday. Alex?Ebkarian said that if gold finishes 2025 over $4,400 then it could reach $4,859 to $5,590 in 2026. Alex?Ebkarian also added that silver may retest $50/oz next year. Silver spot fell by 0.3%, to $63.75 per ounce. This is a retreat from the record high of $64.65 reached on Friday. Palladium rose 2.5% to $1.606.41, a new two-month record. Platinum rose 4% to $1.854.95, the highest level since September 2011. Ebkarian said that "Platinum Group Metals are breaking out due to tightening supply and expanding demand."
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Europe searches for alternatives to Mozal aluminium in the face of its shutdown
Analysts say that a smelter closure in Mozambique will have a negative impact on global aluminum supplies next year. The plant's "core European Union" customers may be forced to look for alternative suppliers. South32 confirmed Tuesday that it would place the Mozal smelter, which has a capacity of 560,000 metric tons per year, on care and maintenance from mid-March. This was after discussions with Mozambique’s government and utilities failed to produce a new deal. Trade Data Monitor figures show that the plant exported almost 430,000 tonnes of aluminium to Europe in the first ten months of 2025. This makes Mozambique a top primary metal supplier to the EU, with nearly a fifth of the region's imports. Ewa Mannthey, a?ING analyst, said via email that "we are expecting a shortfall of about 600,000." ING saw a 200,000 ton deficit on the global aluminum market in 2025, after a half-size deficit. Manthey said that Europe is likely to fill in the Mozal Gap primarily by increasing imports from Canada, and?the Middle East. According to estimates by the Brussels-based European Aluminium industry group, Europe's primary aluminium demand is approximately 9 million tonnes per year. The impending closure of Mozal coincides with a power failure at Century Aluminum's Icelandic smelter, which has reduced output by two thirds. Iceland was the EU's 2nd-largest aluminium supplier in 2018. Prices have also been pushed higher by the EU's Carbon Border Adjustment mechanism, which will impose a carbon-based tax on aluminum imports starting in January. The amount of Russian metal that can enter the EU from February 26 until December 31 will be reduced to 50,000 tonnes. At 1602 GMT the benchmark three-month aluminum on the London Metal Exchange traded up 0.5% to around $2,880, which is not far from the three-year-high of $2,920 that was reached on November 3 and December 5. The European Aluminium Duty-paid Premium, which buyers add to the LME price of physical metal in order to cover taxes, shipping costs and handling, reached a 10-month peak of $340 per ton, at the beginning of December. It was previously at $326. Ross Strachan is the head of raw materials for aluminium at CRU. He believes that the Mideast Gulf will make up the volume lost if Mozal were to close. Strachan stated that "there are certain exporters from the region who are more likely to increase their shipments to Europe due the higher premiums." (Reporting and editing by Alexander Smith; Pratima Dasai, Tom Daly)
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Morocco provides emergency assistance during the harsh winter weather
Authorities announced on Tuesday that Morocco has provided emergency assistance to tens of thousands of families who have been affected by the freezing temperatures, heavy rains and snow this winter. The flash floods that followed torrential rainfall in Safi, on the coast, killed 37 people. They also damaged 70 homes and shops, washed away cars and cut roads. Authorities said that the relief operation would target '28 provinces which have been affected by freezing temperatures and snow, and distribute food supplies and blankets?to 73,000 households. The High Atlas Mountains were issued a red alert on Tuesday, for snowfall up to 80cm (31 inches). An orange?alert for rain up to 50mm was also issued across the majority of central and northern regions. Snow has fallen to a depth of 50 cm in the mountains of Ouarzazate (about 500 km southeast of Rabat), and the temperatures at night have been below zero. After seven years of drought, which emptied many of the country's reservoirs, Morocco is experiencing heavy rainfall and snowfall. (Reporting and editing by Timothy Heritage, Ahmed Eljechtimi)
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Reactions to the European Commission's proposal to reverse the 2035 ban on combustion engines
On Tuesday, the European Commission made public proposals to reverse an effective prohibition on sales of new cars with internal combustion engines from?2035. This was in response to pressures from Germany, Italy, and major automakers. The revised package reduces the 2035 target to a 90% reduction in tailpipe emissions as compared to 2021. It also introduces measures that will accelerate the transition to electric vehicles, while giving manufacturers more flexibility. The reactions to this decision are: STEFFEN KAWOHL IS A POLICY ADVISOR FOR THE GERMAN MITTELSTAND (DMB). The automotive industry will still undergo a transformation, even if the combustion engine ban is lifted. This would only be justified if the German economy used the extra time to accelerate the transition to fossil free mobility. DOMINIC PHINN HEAD OF TRANSPORTATION AT CLIMATE GROUP "Today is a tragic victory for an industry that clings to the past, over a sector competitive and forward-looking ready to 'drive Europe into a prosper future. The watering down the phase-out of petrol and diesel engines is a slap in the face to leading companies in Europe who have invested billions of dollars in electric fleets?and need the stability they provide. CHRIS HERON SECRETARY GENERAL OF E-MOBILITY EUROPE It's not the right time for Europe take the wind out its own sails. Europe's electric cars markets are growing rapidly, but by reopening to plug-ins and unscalable fuels, we will slow down our global race. The future of transportation is electric. But the question is, will Europe build it or import it? FRIEDRICH MERZ - GERMAN CHANCELLOR It is good that after a clear signal from the German government, the Commission has now opened up the regulation in the automobile sector. To better align climate goals, market realities and businesses, we need to be more open to technology. JAN DORNOFF RESEARCH LEADER AT THE INTERNATIONAL CONSULTANCIL ON CLEAN TRANSPORTATION The Automotive Package shows that the European Commission is committed to the electrification of cars, as shown by the small and affordable electric car initiatives. "But the proposed changes to CO2 standards will delay the necessary transformations." BEN NELMES, CEO OF NGO NEW AUTOMOTIVE "What Europe needs to do is be consistent and clear in its approach towards the battery industry." By rewriting the rules, the European Commission undermines trust in their 'own regulations' and gambles with Europe’s economic future. JULIEN THOMAS TP ICAP MIDCAP ANALYST "We believe that these measures are generally beneficial to European manufacturers. Especially those who produce high volumes of light commercial vehicles, where regulatory uncertainty caused sales to drop this year, such as Renault and Volkswagen. VOLKSWAGEN The Volkswagen Group considers the European Commission's draft proposal on new CO2 emissions targets to be economically sound. "It is very positive that the future will see small electric vehicles receive special support. It is vital that CO2 targets are adjusted to light commercial vehicles and made more flexible. It is pragmatic to allow vehicles with combustion engines on the market while compensating emissions. This is in line with current market conditions. VOLVO CAR "Weakening commitments to short-term gains risks undermining Europe's competitiveness in the years ahead." "Investing in public infrastructure and a consistent, ambitious policy framework will bring real benefits to customers, the climate and Europe's industrial strength." "Volvo cars has built a complete EV range in less than ten year and is ready to go fully electric with a long-range bridge hybrid. "If we can do this, so can others." THOMAS PECKRUHN PRESIDENT ZDK, GERMANY ASSOCIATION OF MOTOR VEHICLE TRADE "Our businesses are faced with the same problems that European regulations fail to address: high costs of charging, a lack of infrastructure, and a suitability for consumers' everyday use. Climate-neutral transportation only works when it's affordable, reliable and practical for the people. "Anything else is just a theory." (Written by Mathias de Rozario, Gdansk. Edited by Matt Scuffham.
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What's in the European Commission proposals to reverse the 2035 combustion engine prohibition?
The European Commission made public on Tuesday proposals to reverse the effective ban on new sales of internal combustion engines cars starting in 2035. This was done as a result of pressure from Germany and Italy, along with major automakers. The 'delayed package' follows intense lobbying for transitional technologies like plug-in hybrids or CO2-neutral gasoline, while EV-focused businesses and climate campaigners pushed to maintain the original target. The revised package reduces the 2035 target to 90% of what was originally planned, while also introducing measures to speed up the transition to electric vehicles and give manufacturers more flexibility. The main changes are: CO2 REVISIONS According to the plan, automakers can still sell plug-in hybrids as well as range extenders after 2035. The shortfall must be made up by those who do not meet the CO2 reduction target of 100%. CO2-neutral fuels such as advanced biofuels made from waste (such as used cooking oils) and low-carbon Steel will be included in emissions calculations. This means automakers that produce cars using this "green steel" with a lower carbon content can reduce emissions even further. These 'flexibilities" do not allow automakers to pool their emissions together with those of EV only brands like Tesla and Polestar in order to meet the targets. CORPORATE FLEET Small and medium sized businesses with less than 250 workers and below 50 millions euros in turnover will be exempted from the electrification target. The member states will only give 'financial assistance for clean vehicles produced in the EU. This is a victory for France who pushed for incentives for local production. The electrification of fleets can help create a market for second-hand electric vehicles, since rental companies keep their cars on average for one year and leasing firms for three years. The national market share target is set at 32% for Bulgaria in 2035 and 100% for other richer countries. SUPER CREDITS FOR THE NEW SMALL EV CATEGORY The Commission will create an entirely new category of?small electric vehicles under 4.2 meters in length, similar to Japan’s "kei" cars. Each sale counts 1.3 times. This means that 10 small EVs will be credited as 13. This category can also be used to simplify other measures at the state level as well as the EU. Renault?and Stellantis are lobbying for a new category of small cars in the EU, arguing it will reduce costs and make EVs affordable. Commercial vehicles, such as vans, will have to reduce their emissions by 40%, down from 50%. The automakers can also average the compliance rate over a period of three years, from 2030 to 2032. This will give them more flexibility. BATTERY BOOSTER PACK Package also includes a battery booster pack that will receive financial support in Europe's race to scale up gigafactories, and compete with China. The Commission will invest 1.8 billion euro to accelerate Europe's value chain for batteries, including 1.5 billion euro in interest-free loan to battery cell producers. Battery boosters will be able to benefit from the upcoming Industrial Accelerator Act due in January. It will contain details about prioritizing local content.
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Gold prices rise as US unemployment rates increase in November
Gold rose on Tuesday, after a U.S. employment report showed that?the?unemployment rate increased last month compared to September. This reinforced bets for rate cuts by the U.S. Federal Reserve. The dollar index also fell. As of 11:17 am, spot gold rose 0.2% to $4.308,31 per ounce. ET (1617 GMT). U.S. Gold futures rose 0.1% to $4,340.20. The U.S. Dollar?fell to its lowest level in two months, making the price of greenback bullion more accessible for overseas buyers. Benchmark 10-year U.S. Treasury yields have also dipped. Bob Haberkorn, senior market strategist at RJO Futures, said: "The data give the Fed more reasons to cut rates. If they do so, it's good for gold." The U.S. employment rate rose in November but was still 4.6%. This is due to the economic uncertainty caused by President Donald Trump's aggressive trading policy. An economist survey estimated that the unemployment rate was 4.4%. The Federal Open Market Committee announced a quarter point rate cut last week. Chair Jerome Powell’s comments accompanying the announcement were perceived to be less hawkish that expected. U.S. Rate Futures still expect two 25-basis-point cuts each in 2026. They are pricing in 59 basis points of easing in 2019. Gold that does not yield tends to thrive in an environment of low interest rates. Investors are awaiting the Consumer Price Index for November, which is due Thursday, and Personal Consumption Expenditures Index, which is due Friday. Alex Ebkarian said that if gold ends 2025 above $4400, it could reach $4,859 to $5,590 by 2026. Silver, he added, 'could test the $50/oz mark next year. Spot silver dropped 0.9% to $63.39 per ounce after a record high was reached on Friday of $64.65. Platinum rose 3.8% to its highest level in September 2011 at $1,850.68. Palladium also gained 2.8%, reaching a new two-month high of $1,611 an ounce. Ebkarian said that the platinum group metals have been bursting out due to tighter supply and increased demand.
What's in the European Commission proposals to reverse the 2035 combustion engine prohibition?
The European Commission made public on Tuesday proposals to reverse the effective ban on new sales of internal combustion engines cars starting in 2035. This was done as a result of pressure from Germany and Italy, along with major automakers. The 'delayed package' follows intense lobbying for transitional technologies like plug-in hybrids or CO2-neutral gasoline, while EV-focused businesses and climate campaigners pushed to maintain the original target.
The revised package reduces the 2035 target to 90% of what was originally planned, while also introducing measures to speed up the transition to electric vehicles and give manufacturers more flexibility.
The main changes are:
CO2 REVISIONS
According to the plan, automakers can still sell plug-in hybrids as well as range extenders after 2035. The shortfall must be made up by those who do not meet the CO2 reduction target of 100%. CO2-neutral fuels such as advanced biofuels made from waste (such as used cooking oils) and low-carbon Steel will be included in emissions calculations. This means automakers that produce cars using this "green steel" with a lower carbon content can reduce emissions even further.
These 'flexibilities" do not allow automakers to pool their emissions together with those of EV only brands like Tesla and Polestar in order to meet the targets.
CORPORATE FLEET
Small and medium sized businesses with less than 250 workers and below 50 millions euros in turnover will be exempted from the electrification target. The member states will only give 'financial assistance for clean vehicles produced in the EU. This is a victory for France who pushed for incentives for local production.
The electrification of fleets can help create a market for second-hand electric vehicles, since rental companies keep their cars on average for one year and leasing firms for three years.
The national market share target is set at 32% for Bulgaria in 2035 and 100% for other richer countries.
SUPER CREDITS FOR THE NEW SMALL EV CATEGORY
The Commission will create an entirely new category of?small electric vehicles under 4.2 meters in length, similar to Japan’s "kei" cars.
Each sale counts 1.3 times. This means that 10 small EVs will be credited as 13.
This category can also be used to simplify other measures at the state level as well as the EU. Renault?and Stellantis are lobbying for a new category of small cars in the EU, arguing it will reduce costs and make EVs affordable.
Commercial vehicles, such as vans, will have to reduce their emissions by 40%, down from 50%.
The automakers can also average the compliance rate over a period of three years, from 2030 to 2032. This will give them more flexibility.
BATTERY BOOSTER PACK
Package also includes a battery booster pack that will receive financial support in Europe's race to scale up gigafactories, and compete with China. The Commission will invest 1.8 billion euro to accelerate Europe's value chain for batteries, including 1.5 billion euro in interest-free loan to battery cell producers.
Battery boosters will be able to benefit from the upcoming Industrial Accelerator Act due in January. It will contain details about prioritizing local content.
(source: Reuters)