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Trump’s EPA is targeting key vehicle pollution rules. What that means for carmakers

Trump’s EPA is targeting key vehicle pollution rules. What that means for carmakers

By ALEXA ST. JOHN, Associated Press

DETROIT (AP) — The Environmental Protection Agency’s plan this week to relax rules aimed at cleaning up auto tailpipe emissions is the latest Trump administration move to undo incentives for automakers to go electric.

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As part of a larger effort to undo climate-based governmental regulations, the EPA on Tuesday said it wants to revoke the 2009 finding that carbon dioxide and other greenhouse gases endanger public health and welfare. That would cripple the legal basis for limiting emissions from things like power plants and motor vehicles. read more

European Union assumes it faces 15% tariffs in the US from Friday. But a key text still isn’t ready

European Union assumes it faces 15% tariffs in the US from Friday. But a key text still isn’t ready

By LORNE COOK, Associated Press

BRUSSELS (AP) — The European Union is working on the presumption that the United States will impose a 15% tariff on most EU exports from Friday, even though the two sides have yet to complete a key document clarifying how the agreement will operate.

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U.S. President Donald Trump and European Commission President Ursula von der Leyen reached a political agreement on Sunday that would see 15% duties imposed on around two-thirds of EU produce, worth around 380 billion euros ($434 billion).

As of Thursday, the EU and U.S. were still working on a joint statement that would lay out the terms of their understanding, Commission spokesman Olof Gill said. The document wouldn’t be legally binding. read more

Americans haven’t saved for retirement. These states are creating automatic savings plans

Americans haven’t saved for retirement. These states are creating automatic savings plans

By Kevin Hardy, Stateline.org

Worried about large numbers of workers without a nest egg, Nevada this month launched a new retirement program for private sector workers who lack access to one.

The program requires employers with six or more employees to participate — unless they already sponsor an employee retirement plan.

Employees, who can opt out, are automatically enrolled in an Individual Retirement Account, or IRA, through regular paycheck deductions.

Nevada State Treasurer Zach Conine hopes the new program, created by lawmakers in 2023, will boost financial literacy and ultimately reduce state costs on social services as more people save for retirement. He said about 500,000 workers were expected to be eligible under the plan — nearly a third of the state’s civilian labor force of 1.68 million.

“We don’t care broadly if someone stays on the Nevada plan or goes out and gets their own retirement savings plan,” said Conine, a Democrat who is running for state attorney general. “We care that people are saving for retirement.” read more

Wall Street poised to open higher, boosted by strong earnings from AI-focused technology sector

Wall Street poised to open higher, boosted by strong earnings from AI-focused technology sector

By TERESA CEROJANO and MATT OTT, Associated Press

Wall Street was on track to open with solid gains Thursday on the strength of some blowout quarterly reports from the AI-obsessed technology sector.

Futures for the technology-heavy Nasdaq climbed 1.2% before the opening bell, while S&P 500 futures rose 0.9%. Futures for the Dow Jones Industrial Average lagged its counterparts but was still up 0.2%.

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Facebook parent company Meta jumped 11.6% overnight after the social media giant crushed Wall Street’s sales and profit targets even as the company continues to pour billions of dollars into artificial intelligence. read more

Triumphant in trade talks, Trump and his tariffs still face a challenge in federal court

Triumphant in trade talks, Trump and his tariffs still face a challenge in federal court

By PAUL WISEMAN, Associated Press Economics Writer

WASHINGTON (AP) — President Donald Trump has been getting his way on trade, strong-arming the European Union, Japan and other partners to accept once unthinkably high taxes on their exports to the United States.

But his radical overhaul of American trade policy, in which he’s bypassed Congress to slam big tariffs on most of the world’s economies, has not gone unchallenged. He’s facing at least seven lawsuits charging that he’s overstepped his authority. The plaintiffs want his biggest, boldest tariffs thrown out.

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