Finance
Trump tariffs to have impact on cost of Orsted's US projects, CEO tells FT
Published by Global Banking & Finance Review®
Posted on April 10, 2025
1 min readLast updated: January 24, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on April 10, 2025
1 min readLast updated: January 24, 2026
Orsted's US wind projects face increased costs due to Trump's tariffs on aluminum and steel, impacting Revolution Wind and Sunrise Wind.
(Reuters) - Denmark's Orsted would have a "meaningful impact" on the cost of its projects in the U.S. due to President Donald Trump's tariffs, CEO Rasmus Errboe told the Financial Times in an interview published on Thursday.
Errboe told the newspaper that Revolution Wind and Sunrise Wind, Orsted's two large wind projects in the U.S., would be hit by the new tariffs on aluminum and steel.
The FT report added that Orsted also published a piece calling for European capitals to commit to consistent annual support for the industry to meet offshore wind targets and help reverse rising costs.
Orsted did not immediately respond to a Reuters request for comment.
In a stunning reversal, Trump earlier on Wednesday said he would temporarily lower the hefty duties he had just imposed on dozens of countries while further ramping up pressure on China.
Energy companies have slowed construction of offshore wind farms in the U.S., specially since U.S. President Donald Trump suspended new offshore wind leasing on his first day back in the Oval Office in January.
(Reporting by Gnaneshwar Rajan in Bengaluru; Editing by Janane Venkatraman)
The article discusses the impact of Trump's tariffs on Orsted's US wind projects.
The tariffs on aluminum and steel increase the costs of Orsted's US wind projects.
Revolution Wind and Sunrise Wind projects are affected by the tariffs.
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