The US market for green energy is changing rapidly, and Danish companies are now facing serious uncertainty in their plans for expansion in the US. On Saturday, President Donald Trump announced that tariffs on steel and aluminum will be increased to 50 percent. This comes shortly after his budget package – "The one big beautiful bill" – was voted through in the House of Representatives. The budget package proposes significant savings in Biden's green support program, the Inflation Reduction Act (IRA). This is reported by Børsen.
Several Danish players had originally seen great potential in the US's green transition, but are now experiencing a market characterized by political unrest, increased costs and unpredictable framework conditions. According to Peter Bay Kirkegaard, CEO of the Confederation of Danish Industry, political developments make it difficult to plan:
- These green projects also include components that are imported from other countries. Right now, the import of it is set to become somewhere between 0 and 50 percent more expensive due to customs duties. That interval is quite difficult to make a project plan based on. Therefore, there is almost nothing you can do right now but wait for more clarification, says Peter Bay Kirkegaard, CEO of the Confederation of Danish Industry.
The Confederation of Danish Industry shares DI's concern and assesses that the increased uncertainty has already put a damper on new energy projects with Danish interests in the USA.
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