Advertisement
Canada markets closed
  • S&P/TSX

    21,885.38
    +11.66 (+0.05%)
     
  • S&P 500

    5,048.42
    -23.21 (-0.46%)
     
  • DOW

    38,085.80
    -375.12 (-0.98%)
     
  • CAD/USD

    0.7321
    -0.0002 (-0.03%)
     
  • CRUDE OIL

    83.79
    +0.22 (+0.26%)
     
  • Bitcoin CAD

    87,986.51
    +63.83 (+0.07%)
     
  • CMC Crypto 200

    1,389.70
    +7.12 (+0.52%)
     
  • GOLD FUTURES

    2,345.20
    +2.70 (+0.12%)
     
  • RUSSELL 2000

    1,981.12
    -14.31 (-0.72%)
     
  • 10-Yr Bond

    4.7060
    +0.0540 (+1.16%)
     
  • NASDAQ futures

    17,775.00
    +207.50 (+1.18%)
     
  • VOLATILITY

    15.37
    -0.60 (-3.76%)
     
  • FTSE

    8,078.86
    +38.48 (+0.48%)
     
  • NIKKEI 225

    37,780.35
    +151.87 (+0.40%)
     
  • CAD/EUR

    0.6827
    +0.0006 (+0.09%)
     

Ford, other automakers will stay neutral on challenges to Trump vehicle emissions rule -document

WASHINGTON, June 26 (Reuters) - Four major automakers will not take a position on legal challenges to the Trump administration's decision in March to dramatically weaken Obama-era fuel economy standards but want to weigh in on any court fix, according to a document seen by Reuters.

The Trump administration in March finalized rollback of U.S. vehicle emissions standards to require 1.5% annual increases in efficiency through 2026. That is far weaker than the 5% annual increases in the discarded rules adopted under President Barack Obama.

Ford Motor Co, Volkswagen AG, Honda Motor Co and BMW AG struck a voluntary agreement with California in July 2019 on vehicle emissions rules. On Friday, the four automakers plan to ask a U.S. Appeals Court in Washington for permission to be heard in the court challenge "to ensure that any remedy imposed by this court is both appropriate and achievable," according to a draft of the filing. Other major automakers like General Motors Co and Toyota Motor Corp have sided with the Trump administration on the rollback. (Reporting by David Shepardson; Editing by Dan Grebler)