06:16 AM EDT, 07/08/2025 (MT Newswires) -- US President Donald Trump has signed an executive order to eliminate federal tax credits and preferential policies for wind and solar energy, the White House said Monday.

The order instructed the US Department of the Treasury to revoke production and investment tax credits for clean electricity and apply stricter restrictions tied to foreign entities. It also directed the US Department of the Interior to revise regulations that had favored solar and wind over fossil fuels and other dispatchable energy sources, the White House said.

According to Trump, renewable energy incentives distort markets, increase grid instability and depend on foreign-controlled supply chains.

Trump has called for renewed support of fossil fuels, nuclear and other dispatchable sources under a broad push for American energy dominance, the White House said.