WASHINGTON, - President Donald Trump said on Thursday he will invoke Cold War-era emergency powers to direct nearly $700 million to help the U.S. coal industry ship the carbon-intensive fuel to Asia, and power companies to burn it domestically.
Trump plans to use the Defense Production Act, a 1950 law granting presidents broad authority over industries deemed critical to national security, to fund upgrades to over a dozen coal-fired power plants, help finance two new coal plants, and support construction of a West Coast coal export terminal.
