-+ 0.00%
-+ 0.00%
-+ 0.00%
The Trump administration will act on Monday to drastically reduce fuel efficiency regulations for new cars and light trucks. The move would seriously jeopardize one of the government's most important efforts to reduce gasoline consumption and drive the country's transition to electric vehicles. President Trump said on social media on Saturday that he “just approved new fuel economy standards” and falsely claimed that President Joseph R. Biden Jr. implemented an “electric vehicle injunction.” Transportation Secretary Sean Duffy also said in a social media post that the move will be officially announced on Monday. It is expected that the final regulations issued by the US Department of Transportation will drastically reduce federal car mileage standards. Previously, these standards had encouraged automakers to improve the fuel efficiency of fuel-fueled vehicles and sell more zero-emission electric vehicle models. Trump claimed on social media that easing mileage standards would reduce the price of new cars by thousands of dollars. But Congress has previously lifted fines on underperforming automakers, making Monday's withdrawal largely symbolic.
Share
Listen to the news
The Trump administration will act on Monday to drastically reduce fuel efficiency regulations for new cars and light trucks. The move would seriously jeopardize one of the government's most important efforts to reduce gasoline consumption and drive the country's transition to electric vehicles. President Trump said on social media on Saturday that he “just approved new fuel economy standards” and falsely claimed that President Joseph R. Biden Jr. implemented an “electric vehicle injunction.” Transportation Secretary Sean Duffy also said in a social media post that the move will be officially announced on Monday. It is expected that the final regulations issued by the US Department of Transportation will drastically reduce federal car mileage standards. Previously, these standards had encouraged automakers to improve the fuel efficiency of fuel-fueled vehicles and sell more zero-emission electric vehicle models. Trump claimed on social media that easing mileage standards would reduce the price of new cars by thousands of dollars. But Congress has previously lifted fines on underperforming automakers, making Monday's withdrawal largely symbolic.
Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.
What's Trending