Pressure to Sell Electric Vehicles Eases in the United States... Trump Significantly Eases Fuel-Economy Standards

[Financial News] U.S. President Donald Trump approved new fuel-economy standards that effectively scrap the regulations imposed by the administration of his predecessor, Joseph Robinette Biden Jr., to promote the wider adoption of electric vehicles.
On the 26th, local time, President Trump said, "This is a meaningful day for American auto industry workers and car buyers," and announced, "I have just approved new fuel-economy standards that abolish the ridiculous electric-vehicle mandate policy." He added, "The new standards will eliminate waste in the automobile production process in the United States, and this measure will lead to lower vehicle prices, allowing consumers to save thousands of dollars when purchasing vehicles."
President Trump also claimed, "American automakers suffered losses of billions of dollars because of the previous Biden administration's regulations." He went on to say, "Every manufacturer, from General Motors (GM) to Ford and Stellantis, has contacted me to say that it wants to produce in the United States," while touting that more than $100 billion (approximately 136 trillion won) is being invested in the U.S. auto industry under his administration.
Although President Trump did not provide specific details about the new standards, the approval appears to finalize the easing plan for automobile fuel-economy regulations unveiled by his administration last December. The administration had previously announced a plan to lower the Corporate Average Fuel Economy (CAFE) standard that automakers must meet from 50 miles per gallon to 34.5 miles per gallon for 2031 model-year vehicles.
Concerns have been raised that this easing of fuel-economy regulations runs counter to global efforts to combat climate change.
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