$270,000 Drug. One Competitor. Billion-Dollar Market.

Phase 3 trial targets recurrent pericarditis with an oral therapy that could disrupt the only approved treatment. And their heart failure program launches in 2026.

What's next for EVs under President Trump?

ALEXA ST. JOHN and MATTHEW DALY
January 21, 2025

WASHINGTON (AP) -- President Donald Trump signed an executive order promising to eliminate what he incorrectly labels "the electric vehicle mandate" imposed under former President Joe Biden. His order on Monday is consistent with pledges Trump made on the campaign trail to end what he calls a "preposterous" focus on EV's by Biden and other Democrats. The order, along with other steps expected in a second Trump administration, could slow U.S. efforts to address climate change, much of which is caused by burning gasoline and diesel fuel that emit carbon dioxide and other planet-warming greenhouse gases.

Here is a look at Trump's actions and what happens next.

What does Trump's executive order say about EVs?

Trump's order said he would "eliminate the electric vehicle (EV) mandate" and promote true consumer choice, which is essential for economic growth and innovation, by removing regulatory barriers to motor vehicle access; by ensuring a level regulatory playing field for consumer choice in vehicles." While there is no Biden "mandate" to force the purchase of EVs, the Democratic president's policies were aimed at encouraging Americans to buy them and car companies to shift from gas-powered vehicles to electric cars.

Trump's order, entitled "Unleashing American Energy,'' also said his administration would terminate "where appropriate, state emissions waivers that function to limit sales of gasoline-powered automobiles; and by considering the elimination of unfair subsidies and other ill-conceived government-imposed market distortions that favor EVs over other technologies and effectively mandate their purchase by individuals, private businesses, and government entities alike by rendering other types of vehicles unaffordable."

Language in the order and others issued by Trump on Monday indicate he is likely to seek to repeal a $7,500 tax credit for new EV purchases approved by Congress as part of Biden's landmark 2022 climate law, as well as roll back Biden-era Environmental Protection Agency rules to tighten limits on greenhouse gas emissions and other pollution from passenger and commercial vehicles.

Trump has also promised to end a federal exemption that allows California to phase out the sale of gas-powered cars by 2035. The federal waiver is important not only to California but also to more than a dozen other states that follow its nation-leading standards on vehicle emissions.

Trump's order Monday was reminiscent of action taken during his first term in the White House, when he rolled back tough vehicle emissions standards set under Democratic then-President Barack Obama.

Did Trump address EV charging?

In the executive order, Trump also put an immediate pause to billions of dollars in funding allocated for EV charging stations appropriated through the climate law, known as the Inflation Reduction Act and the bipartisan infrastructure law approved in 2021.

Biden had set a goal of creating 500,000 such chargers by 2030. As of late last year, there were 214 operational chargers in 12 states that have been funded through the federal laws, with 24,800 projects underway across the country, according to the Federal Highway Administration. A total of more than 203,000 publicly available charging ports are operating across the U.S., with nearly 1,000 being turned on every week, according to the agency. This is more than double the number available in 2021.

What EV-related policies currently exist?

While in office, Biden set a goal for half of all new vehicles sold in the U.S. by 2030 to be electric and dedicated funding to EV charging infrastructure through the National Electric Vehicle Infrastructure Formula and the Charging and Fueling Infrastructure Discretionary Grant programs.

Under the former president, the EPA created tailpipe limits to curb planet-warming emissions from passenger vehicles. The final rules are the most ambitious standards of their kind in the nation. Still, automakers could meet the EPA's limits with sales of EVs as low as 30% in 2032, along with more fuel-efficient gasoline-powered vehicles.

Also under Biden, the U.S. National Highway Traffic Safety Administration set standards on fuel-efficiency requirements, which required new vehicles sold in the nation to average about 38 miles per gallon of gasoline in 2031, up from about 29 mpg in 2024.

Both sets of rules inherently incentivized automakers to electrify their lineups for American car buyers.

Where do EVs stand in the US?

Though the pace of EV sales growth in the U.S. slowed last year, EVs accounted for 8.1% of new vehicle sales, up from 7.9% the year before, according to Motorintelligence.com.

While the cost of EVs has slowly come down as the auto industry scales manufacturing of the vehicles and expensive battery prices improve, they still cost more upfront than traditional gasoline-powered cars.

Even before Monday's order, some automakers have pulled back ambitious plans to go electric. Ford nixed plans for electric three-row SUVs in lieu of making them gas-electric hybrids; General Motors delayed production at an EV battery cell plant.

What happens next?

Temporarily, sales of EVs could skyrocket as car-buyers rush to take advantage of existing tax credits encouraging electrified car purchases.

But the order also means the U.S. could have a more challenging time meeting emissions reductions goals in the long run. Light-duty cars and trucks are responsible for more than half of the U.S. greenhouse gases from transportation, and the sector itself is a major contributor to the nation's overall emissions.

Any action to roll back or revise regulations is likely to face legal challenges from environmental groups and others.

"These clean car rollbacks will burden Americans with a Trumpfecta of higher prices, more pollution and weaker competitiveness," said Dan Becker, director of the Center for Biological Diversity's Safe Climate Transport Campaign. "Trump's attacking the biggest single step ever taken to fight climate pollution."

___

St. John reported from Detroit.

___

Read more of AP's climate coverage at http://www.apnews.com/climate-and-environment

___

The Associated Press' climate and environmental coverage receives financial support from multiple private foundations. AP is solely responsible for all content. Find AP's standards for working with philanthropies, a list of supporters and funded coverage areas at AP.org.

Continue Reading...

Popular

Marjorie Taylor Greene Goes Bargain Shopping, Discloses Buying These Two Stocks At 52-Week Lows

Congresswoman Marjorie Taylor Greene disclosed some new stocks recently. Unlike past trades in 2024 and 2025, the latest disclosure is rather unique.

Weiss Gold Veteran Makes Shocking New Call - Ad

Weiss expert Sean Brodrick went out on a limb last year and declared a historic event would send the yellow metal to $3,150. People laughed at him at the time, but he was off by just two days. Now, Sean has a shocking new prediction for gold ... and reveals a little-known way to get ahead of this bull market.

Trump-Pardoned Ponzi Schemer Faces 37-Year Sentence For $44 Million COVID Scam

A previously convicted Ponzi schemer who had received a pardon from President Trump is heading back to prison due to involvement in a new fraudulent scheme.

The Smart Money Copper Trade - Ad

Quebec discovery. Strong grades. Roads and hydro in place. Funding secured for a busy drill calendar. Each assay can build scale and tighten the window for early entries as EVs and data centers pull harder on copper. Do not wait.

AT&T reached a $177M data breach settlement. What consumers should know about claiming their money

NEW YORK (AP) — AT&T has reached a combined $177 million settlement over two . And impacted consumers have a little over a month left to file a claim for their chunk of the money.

Scaramucci Says This One US Mistake Helped China Become a Manufacturing Superpower

Anthony Scaramucci recently highlighted what he considers a significant error by the US that enabled China to ascend as a manufacturing superpower.

The Next ETF Era Begins with Payments - Ad

After Solana and Hedera, another digital-asset ETF has arrived and it targets global money movement.

Silver Soars To Record Highs: It's Up 95% In 2025, The Best Year Since 1979

Silver prices surge over 5% as investors rush to secure metal amid tight supplies and global shortage concerns, driving up stocks and mining equities.

Nvidia, Dell, Coinbase, Gorilla Technology And Archer Aviation: Why These 5 Stocks Are On Investors' Radars Today

U.S. stocks closed lower on Monday, with the Dow slipping 1.2% to 46,590.24, the S&P 500 easing 0.92% to 6,672.41, and the Nasdaq dipping 0.84% to 22,708.07. These are the top stocks that gained the attention of retail traders and investors through the day:

They've Done It 20+ Times-Now They've Found a New Memecoin to Watch - Ad

Our analysts have built one of the most reliable track records in the memecoin space by recognizing early momentum signals many traders overlook. Their newest pick shows several of the same early indicators found in past standout performers. Get the details before this story spreads.

Trump's $2,000 Tariff Dividend Stumbles On Math: Cost Far Exceeds Revenue

Trump's $2,000 tariff rebate plan faces a major math gap, with estimated costs up to $606.8B—far exceeding tariff revenues in 2025 and 2026, says the Tax Foundation.

Bill Gates' Daughter Phoebe's AI Shopping Assistant Found Collecting Extensive User Data: Report

Phia, co-founded by Phoebe Gates, has been found collecting extensive user data through its browser extension, raising privacy concerns.

The Repeatable Strategy Behind 20+ Early Memecoin Wins (Revealed) - Ad

Few analysts have been able to consistently spot strong memecoin setups, but our team has developed a repeatable framework that has helped them identify high-momentum plays early. Now they've uncovered a new project showing similar characteristics, and they want you to see the full breakdown yourself.

Warren Buffett Initiates Alphabet Position, Trims Apple In Q3 — Here Are Berkshire's Moves

Warren Buffett's Berkshire Hathaway took a new stake in a member of the Magnificent Seven, while lowering its stake in Apple in the third quarter.

What to know about missing Malaysian Airlines Flight MH370 as search resumes

KUALA LUMPUR, Malaysia (AP) — More than a decade ago, Malaysia Airlines Flight MH370 vanished without a trace, sparking one of aviation’s most baffling mysteries.

The $43B Big Pharma Story is Starting Over-With a New Player - Ad

Big Pharma once paid $43B for a small biotech with a similar platform. Now, a new company is following that same playbook, leveraging its patented delivery technology to attract partnerships and near-term revenue potential.

Jeff Bezos Says Almost Everyone Focuses On What The Next 10 Years Will Look Like—Here's What People Should Ask Instead

Amazon's latest surge in AWS growth and AI focus suggests that Jeff Bezos' long-standing philosophy of building around unchanging customer needs is continuing to shape the company's success more than a decade later.

D.C.'s Quiet Plan for a New Tech Era - Ad

Why did federal agencies receive orders to "clear the runway" for a phenomenon most Americans haven't even heard of yet? And why are billionaires rushing in weeks before January 1? Whitney Tilson decoded the pattern.

Scrapyard workers recount horrific scene after UPS plane crash destroyed their Kentucky business

LOUISVILLE, Ky. (AP) — Supervisor Adam Bowman was loading metal onto a truck at a scrapyard just south of the Louisville, Kentucky, airport when he heard what he first thought was a transformer explosion and quickly realized was more horrific.

Walmart raises profit expectations as more Americans hunt deals in sluggish economy

NEW YORK (AP) — Walmart delivered another standout quarter, posting strong sales and profits that blew past Wall Street expectations as it wins over more cash-strapped Americans who have grown increasing anxious about the economy.

Utility Over Hype: ETF Launch Alert - Ad

This ETF isn't about speculation, it's about infrastructure. Seconds-level settlement, low fees, and institutional custody.

Asian shares retreat in cautious trading ahead of Nvidia profit report

TOKYO (AP) — Asian shares retreated in cautious trading Wednesday ahead of an earnings report from that is seen as a bellwether for the recent craze for artificial intelligence technology.

Copper Is Tight, Silver Is Rising - And This Early Nevada Play Hits the Timing Perfectly - Ad

AI, electrification, battery storage, and data centers are pushing copper and silver demand sharply higher, even as supply stays tight. This region in Nevada offers rare multi-metal potential, and a new company has secured land in a district the surging district. It's one of the cleanest timing setups in the sector right now.

Tesla Wants To Shift Away From China-Made Components For US Cars: Report

Tesla requires suppliers to exclude Chinese parts for US car production. Despite challenges, aim to switch all parts within 1-2 years.

Meta Allegedly Concealed Evidence Of Social Media Harm, According To Court Filings: Report

Meta Platforms Inc. allegedly hid evidence of social media harm by shutting down a study on Facebook and Instagram's impact on mental health.

$270,000 Drug. One Competitor. Billion-Dollar Market. - Ad

Phase 3 trial targets recurrent pericarditis with an oral therapy that could disrupt the only approved treatment. And their heart failure program launches in 2026.

Trump Rolls Back Tariffs On Coffee, Beef And More As Price Debate Heats Up— Here's What You Need To Know

President Donald Trump signed an executive order on Friday that retroactively lowers tariffs on beef, coffee, bananas, and tomatoes, among other agricultural imports.

Weiss Gold Veteran Makes Shocking New Call - Ad

Weiss expert Sean Brodrick went out on a limb last year and declared a historic event would send the yellow metal to $3,150. People laughed at him at the time, but he was off by just two days. Now, Sean has a shocking new prediction for gold ... and reveals a little-known way to get ahead of this bull market.

Trump Hints At Tax Cut, John Bolton Warns Of Peace Prize Ambitions And More: This Week in Politics

Trump hints at major income tax cuts, while political tensions rise over military orders, Russia policy, and government shutdown threats.

The Smart Money Copper Trade - Ad

Quebec discovery. Strong grades. Roads and hydro in place. Funding secured for a busy drill calendar. Each assay can build scale and tighten the window for early entries as EVs and data centers pull harder on copper. Do not wait.

IRS boosts contribution limits for 401(k) retirement plan savers

Americans will be allowed to contribute more of their money to 401(k) and similar retirement saving plans next year.

Meta alerts young Australians to download their data before a social media ban

MELBOURNE, Australia (AP) — Technology giant on Thursday began sending thousands of young Australians a two-week warning to downland their digital histories and delete their accounts from Facebook, Instagram and Threads before a world-first on accounts of children younger than 16 takes effect.

The Next ETF Era Begins with Payments - Ad

After Solana and Hedera, another digital-asset ETF has arrived and it targets global money movement.

Top Fannie Mae officials ousted after sounding alarm on sharing confidential housing data

WASHINGTON (AP) — A confidant of , the Trump administration's top housing regulator, provided confidential mortgage pricing data from Fannie Mae to a principal competitor, alarming senior officials of the government-backed lending giant who warned it could expose the company to claims that it was colluding with a rival to fix mortgage rates.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright trendadvisor.net
Privacy Policy | Terms of Service