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Trump approves new fuel economy standards to end Biden EV mandate
Fox Business • • business
Key Points:
- Former President Donald Trump announced new fuel economy standards that eliminate the Biden administration's electric vehicle (EV) mandate, aiming to reduce costs for American car buyers and manufacturers.
- Trump criticized the previous administration's policies for financially harming automakers and forcing consumers into unwanted EVs, while promising $100 billion investment in American auto manufacturing.
- The new standards have received support from industry leaders like Ford CEO Jim Farley, who praised the move for improving vehicle affordability and promoting domestic production.
- Trump also revoked Biden-era EV tax credits and ended California's stringent diesel engine and EV sales mandates, arguing these policies gave excessive regulatory power to California and hindered the auto industry.
- The former president claimed these changes will revive auto plants and jobs across key states, countering what he described as harmful environmental regulations from the previous administration.
