One Big Beautiful Disaster? Trump's Bill and the Global Ripple Effect                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    

Passed in the House of Representatives on 22nd May 2025, the ‘One Big Beautiful Bill Act’, otherwise known as ‘OBBBA’ or ‘One Big Beautiful Bill’, is possibly one of the most controversial actions ever taken by the newly inaugurated U.S. President Trump; leaving media outlets, professionals and individuals alike across the globe both shocked and understandably more than a little concerned about the future of the U.S. economy, the country’s political standing, and the impact this Bill will have on clean & renewable energy.

Following a number of questionable and genuinely concerning actions from Trump during the 6 short months he’s been President, ‘One Big Beautiful Bill’ is a sweeping budget reconciliation package that touches on a number of different areas across the U.S. Healthcare sector, Clean & Renewable Energy sector, Trade, and even the Military. Core changes include:

• Extensions of Trump’s 2017 tax cuts (individual & corporate)

• Expanding SALT deductions

• A $150 billion military boost and border security spending

• Cuts to Medicaid and SNAP with stricter eligibility rules

• Rollbacks of Biden-era clean‑energy tax credits

• Tax perks like overtime/tip exemptions and new child tax credits

The Bill’s Impact on The Clean & Renewable Energy Sector

While marketed as a tax reform and economic stimulus bill, the Bill quietly dismantles many of the cornerstone policies that have worked hard to support America's clean energy growth over the past five years.

In fact, the impact of this new Bill on the clean & renewable energy sector is significant and far reaching; the effects of which will surely be felt beyond American soil. Specifically of clean & renewable energy, the Bill includes:

• A rollback of tax credits for renewable energy production and investment, including solar, wind, and geothermal

• The removal of subsidies for electric vehicle (EV) purchases

• The cancellation of incentives for clean energy manufacturing, particularly in battery and solar panel production

• Funding cuts to the Department of Energy's innovation and climate-focused programs

The result is a sudden evaporation of the financial scaffolding that helped make clean energy cost-competitive with fossil fuels

Compounded By Recent U.S. Tariffs

This comes just weeks after Trump’s U.S. tariffs took effect at the beginning of May. Set between 10 & 50%, these are global tariffs on green technology imports, particularly those from China. Tariff increases on EVs, solar panels, wind turbines, batteries, and rare earth minerals mean that importing clean technology now comes with a steep price tag.

These tariff hikes, enacted under the banner of national security and economic independence, would have been less disruptive if domestic incentives remained in place.

Instead, the U.S. finds itself in a policy paradox: making clean energy more expensive to import, while pulling support for making it locally.

Essentially, the Bill cuts the carrot while the tariff policies swing the stick. The combination signals that the U.S. is moving from a green investment-led strategy to an anti-China industrial protection strategy, which could backfire in the clean energy space where China currently dominates supply chains.

Why is Musk So Mad?

Elon Musk’s public feud with Donald Trump over the OBBBA bill has been hard to miss in recent news; underscoring the internal contradictions of the new economic nationalism.

Musk, whose companies flourished under clean energy incentives and, indeed, are very much a part of the clean & renewable energy sector, described the bill as a "disgusting abomination" and warned it would add trillions of unnecessary dollars to the national deficit while also sabotaging the green economy.

With Tesla’s margins threatened by both lost subsidies and increased import costs, the company already suffering significantly since Elon aligned himself so closely with Trump, and SpaceX/Starlink's federal contracts caught in political crossfire, Musk's backlash represented not just a business grievance but a warning cry from the private sector.

The Domestic And Global Implications

For American businesses and consumers, the effects of the Bill are already being felt:

• Utility-scale solar and wind projects are being delayed or canceled due to cost uncertainty.

• EV manufacturers are revising rollout strategies and price points.

• Energy costs in some states are beginning to creep upward, especially where renewable penetration is growing rapidly.

• For working and middle-class consumers, the cost of going green is becoming prohibitive again, reversing a decade-long trend of declining clean energy costs.

Globally, the U.S. had positioned itself, post Inflation Reduction Act, as a magnet for global clean tech investment. That momentum is now at significant risk.

International companies like Siemens, BYD, and LG Energy Solution are reassessing U.S. expansion plans. The sudden policy shift injects risk into what was seen as a stable market for green infrastructure. Meanwhile, China - despite the tariffs - remains the undisputed leader in low-cost clean tech manufacturing, and may even benefit as the U.S. withdraws.

Worse still, the U.S. pullback provides political cover for other nations to delay their own climate investments. It also threatens climate cooperation at international forums like COP30, where American leadership had once been instrumental.

The Moment America Turn Its Back On The Future?

Through the passing of the ‘One Big Beautiful Bill Act’, the United States risks becoming an unreliable partner in the global climate effort, just as the world moves together to decarbonise and create a green and bright future, led by clean & renewable energy production and consumption.

Without coordinated action to restore market confidence and re-align policy with climate goals, the U.S. risks falling behind not just technologically, but morally and economically. The question now is whether the market, the states, and international allies can pick up the slack - or whether this will be remembered as the moment America turned its back on the future.