Despite rampant speculation that President Donald Trump’s trade policy might increase some car prices, how his regulatory relief agenda may lower sticker prices and increase safety goes largely ignored.
How did this happen? The Trump administration is revising the Corporate Average Fuel Economy standards imposed on automakers during the Obama era. In particular, they are no longer holding manufacturers to a 2025 fleet mandate of 54.5 miles per gallon.
When the rollback was first announced, Secretary of Transportation Elaine Chao declared it “a win for the American economy.” Then-EPA Administrator Scott Pruitt called it “good for consumers and good for the environment.”
While a victory for all consumers, it’s a particularly welcome relief to those in poor and minority communities looking to ascend the socio-economic ladder and get an equal shot at achieving the American Dream.