The Trump administration is suspending federal funding for electric car chargers, following through on one of President Donald Trump’s first directives to roll back U.S. subsidies for plug-in vehicles after he retook the White House.

The U.S. Department of Transportation’s Federal Highway Administration announced in a letter dated Feb. 6 posted online Friday that it is suspending approval of funds intended to be distributed to states from the National Electric Vehicle Infrastructure Formula Program, which provides funding to add chargers mostly along the interstate highway system.

The NEVI program was included in the 2021 bipartisan infrastructure law that was passed by Congress under former President Joe Biden. It allocated $5 billion over five years to install chargers in every state in an effort to jump-start acceptance of the plug-in cars.

Ryan Gallentine, managing director at Advanced Energy United, which represents EV manufacturers, said in an emailed statement the charger halt “creates great uncertainty for the billions of dollars states and private companies are investing in the urgently needed infrastructure to support America’s highway transportation network.”

jobs added; unemployment rate falls 4%

U.S. employers added just 143,000 jobs last month, but the unemployment rate fell to 4% to start 2025.

The first monthly jobs report of Donald Trump’s second presidency points to a solid but unspectacular labor market. January job creation dipped from the 261,000 added in November, and 307,000 in December. Economists had expected about 170,000 new jobs in January.

The outlook is uncertain as Trump prepares to shake up economic policymaking by cutting federal jobs, imposing big taxes on foreign goods and deporting millions of undocumented workers. His tariffs and immigration crackdown could push up prices, potentially rekindling the inflation that turned many U.S. voters against President Joe Biden and helped return Trump to the White House.

Average hourly wages rose by 0.5% from December and 4.1% from January 2024, a bit hotter than forecasters had expected.

trump: Nippon may invest in U.S. Steel

President Trump indicated Nippon Steel Corp. is considering investing in U.S. Steel instead of an outright purchase, offering a potential resolution to a clash over the Japanese firm’s contentious bid to buy the iconic American company.

Trump actually referenced automaker Nissan Motor Co. repeatedly as the interested party in his Friday comments, though a person familiar with the president’s thinking confirmed he was referring to Nippon Steel.

“Nissan is going to be doing something very exciting about U.S. Steel, will be looking at an investment rather than a purchase,” Trump said at a joint press conference with Japanese Prime Minister Shigeru Ishiba. “They’ve agreed to invest heavily in U.S. Steel as opposed to own it, and that sounds very exciting.”

The comments add to investor concerns that the merger agreement is effectively over, a significant development as many holders of U.S. Steel shares had been hoping Trump would have a change of heart and attempt to reverse his predecessor’s decision to block the deal.

Compiled from Associated Press and Bloomberg reports.