US President Donald Trump is preparing to announce a significant financial initiative aimed at the coal industry, proposing to allocate nearly $700 million using Cold War-era powers granted by the Defence Production Act of 1950. This funding will focus on upgrading more than a dozen coal power plants and constructing a major coal export terminal on the West Coast. The initiative comes as the Trump administration emphasizes the importance of domestic energy production, particularly to support power-intensive industries like artificial intelligence, while also seeking to reduce dependence on foreign fossil fuel reserves. Despite coal's historical dominance in electricity generation, its usage has sharply declined in recent years, now contributing to less than 20% of total US electricity, as producers shift towards cheaper natural gas and renewable energy sources. The funding breakdown includes over $350 million for plant upgrades, $185 million for corporate funding matches in specific states, and $75 million for the export terminal project. Bloomberg first reported on this planned support for the coal sector.