Trump administration to announce new fuel economy standards Wednesday, sources say

Trump administration to announce new fuel economy standards Wednesday, sources say


Traffic on Interstate 80 in San Pablo, California, US, on Wednesday, Nov. 26, 2025.

David Paul Morris | Bloomberg | Getty Images

The White House will announce new fuel economy standards on Wednesday, according to administration sources.

The Trump administration will propose rolling back the standards implemented by former President Joe Biden last year, sources told Reuters. Biden required passenger cars and light trucks to have a fuel efficiency of about 50 miles per gallon by 2031.

President Donald Trump is scheduled to make an announcement at 2:30 p.m. ET from the Oval Office. Executives from Ford, General Motors and Stellantis are expected to attend the announcement.

The Biden fuel efficiency standards were expected to stimulate the sale of elecric vehicles in the U.S. Trump has sought to roll back all federal support for EVs since taking office.

The oil industry group the American Petroleum Institute has lobbied the Trump administration to repeal the Biden fuel economy standards, arguing that they aim to phase out liquid fuel vehicles.

The Corpoate Average Fuel Economy (CAFE) standards date back to 1975 and have been tightened over the years to make vehicles more efficient.



Source

Macy’s posts strongest growth in more than 3 years, but strikes cautious note on holidays
World

Macy’s posts strongest growth in more than 3 years, but strikes cautious note on holidays

Macy’s on Wednesday beat Wall Street’s sales expectations for the third quarter in a row and posted its strongest growth in more than three years as the company’s turnaround strategy showed signs of momentum. The department store operator raised its full-year sales and earnings outlook after its better-than-expected fiscal third quarter. The retailer now expects […]

Read More
Why aspirational luxury shopping is losing steam — and what’s ahead in 2026
World

Why aspirational luxury shopping is losing steam — and what’s ahead in 2026

For the first time in years, analysts are feeling optimistic about luxury. Next year, the sector will finally return to growth, market watchers say, yet companies’ performance is likely to diverge based on their level of exposure to different segments of the customer base, making stock picking key for luxury investors in 2026. J.P. Morgan […]

Read More
Musk’s Starlink rival Eutelsat shares plummet 7% after report of SoftBank cutting its stake
World

Musk’s Starlink rival Eutelsat shares plummet 7% after report of SoftBank cutting its stake

French satellite group Eutelsat, often seen as Europe’s answer to Elon Musk’s Starlink, saw its share price plummet Wednesday following a report that Japanse investor SoftBank cut its stake in the company. Shares in Eutelsat were last trading 7.2% lower as of 4.41 a.m. ET. The moves come following a Reuters report that SoftBank has […]

Read More