With the US Presidential election just eight days away, the country’s auto sector will be strongly impacted by the policies a Biden or Trump presidency would have, on trade, mileage rules, and many more issues.
While four more years of Mr Trump would see continued efforts to roll back auto mileage standards and revoke California's power to issue its own emission standards, Mr Biden’s presidency could see a return to tough Obama-era emission targets that Mr Trump has rolled back, as well as a greater focus on electric and autonomous cars and an extension of the $7,500 per electric vehicle (EV) tax credit, according to Bloomberg Intelligence.
Despite the impact of the coronavirus pandemic, the US auto industry not asked for direct financial help from the government, but instead opted for targeted measures, such as declaring dealerships essential services during the initial shutdowns, as well as loan guarantees. A Biden presidency is likely to lead to higher miles per gallon (MPG) standards that automakers are required to meet and will possibly impact tariff threats on imported autos and parts- proposed by Mr Trump and criticized by Mr Biden.
No matter who wins, for their part, America’s auto parts suppliers want clarity from the government on auto emission rules, saying they are in favor of performance-based standards