President Donald Trump has signed off on new fuel economy standards that he claims will end a Biden-era push for carmakers to build more electric vehicles.
Big picture view: On Monday, the U.S. Department of Transportation is expected to approve new, dramatically reduced emissions standards that will last through 2031.
In a post announcing his support for the move, Trump said "these new Standards will take the waste out of building cars in America."
The backstory: Trump blasted the current fuel economy standards, arguing that they cost manufacturers billions of dollars, wasted billions on chargers, and forced people to buy vehicles that they did not want.
The new standards are expected to cut the cost of building new vehicles, but will drive up fuel consumption and carbon dioxide emissions for decades, the U.S. Department of Transportation predicts.