Trump announces $700 million funding for coal plants, energy infrastructure

Key points

• U.S. President Donald Trump on Thursday (June 4, 2026) announced he was using Cold War-era legislation to tap $700 million in funding for a slew of coal plants and mines and an export terminal.
• Trump said the funds would be used to keep more than a dozen coal plants in ten states and 42 mines open, as well as to build two new coal plants and an export terminal.
• The Republican said the funds would be tapped using the Defence Production Act, which was enacted in 1950 and gives the U.S. president emergency power over domestic industries.
• “Today, we’re taking historic action to bring down the price of energy and the cost of living for all Americans, with the power of clean, beautiful coal,” said Mr. Trump.
• Trump frequently calls human-induced climate change “a hoax” and has worked since returning to power last year to wipe out a number of...