Ticker: Trump rescinds offshore wind plans; Tariff talks with Mexico get extension
The Trump administration is canceling plans to use large areas of federal waters for new offshore wind development, the latest step to suppress the industry in the United States.
More than 3.5 million acres had been designated wind energy areas, the offshore locations deemed most suitable for wind energy development. The Bureau of Ocean Energy Management is now rescinding all designated wind energy areas in federal waters, announcing on Wednesday an end to setting aside large areas for “speculative wind development.”
Offshore wind lease sales were anticipated off the coasts of Texas, Louisiana, Maine, New York, California and Oregon, as well as in the central Atlantic. The Biden administration last year had announced a five-year schedule to lease federal offshore tracts for wind energy production.
Tariff talks with Mexico get extension
President Donald Trump on Thursday said he would enter a 90-day negotiating period with Mexico over trade as 25% tariff rates stay in place, providing a bit of clarity to a massive rewiring of the global economy that will require the president to sign a new executive order.
Trump posted on his Truth Social platform that his phone conversation with Mexican leader Claudia Sheinbaum was “very successful in that, more and more, we are getting to know and understand each other.”
The Republican president had threatened tariffs of 30% on goods from Mexico in a July letter, something that Sheinbaum said Mexico gets to stave off for the next three months.
“We avoided the tariff increase announced for tomorrow and we got 90 days to build a long-term agreement through dialogue,” Sheinbaum wrote on X.
