Trump rescinds Biden’s EV mandate – eyes on TSLA

On Monday, Trump rescinded a 2021 executive order issued by President Joe Biden, which aimed to make half of all new vehicle sales electric by 2030

• the 50% goal was not legally binding
• but it had gained backing from both U.S. and international automakers
• Trump also intends to instruct agencies to review regulations that impose stricter emissions standards, requiring automakers to ensure that between 30% and 56% of their vehicle sales are electric by 2032 to remain compliant.

US equity markets were closed on Monday for the Martin Luther King holiday.

Eyes will be on Tesla shares when markets open again on Tuesday.

Old pic from China – any Teslas in it? I wouldn’t know being a bit of an ICE guy.

This article was written by Eamonn Sheridan at www.forexlive.com.