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Stock impact report

Trump's fuel economy cuts cost car buyers even more | Opinion [USA TODAY]

General Motors Company (GM) 
Last general motors company earnings: 2/5 08:05 am Check Earnings Report
US:NYSE Investor Relations: gm.com/investors/index.html
Company Research Source: USA TODAY
Anthony Foxx and Elaine Buckberg Opinion contributors The Trump administration believes rolling back fuel economy rules will save American car buyers big time. However, its proposal will actually prove much more expensive than the higher fuel standards they replace – making American drivers more susceptible to gasoline price swings and American automotive companies less competitive. Gasoline prices have jumped 50 cents a gallon in the days since the war on Iran began – another replay of geopolitical risk from foreign oil producers hitting U.S. drivers at the pump. Under the administration's proposal , new gas cars can consume more fuel, meaning swings in gas prices will hit drivers harder. While lowering miles-per-gallon requirements may lower car prices and boost U.S. automaker profits over the next few years, consumers will pay more through higher bills at the pump. The move also puts a key American industry at greater risk by handing the growing global market for electric Show less Read more
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