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The White House will announce new fuel economy standards on Wednesday, according to administration sources.

The Trump administration will propose rolling back the standards implemented by former President Joe Biden last year, sources told Reuters. Biden required passenger cars and light trucks to have a fuel efficiency of about 50 miles per gallon by 2031.

President Donald Trump is scheduled to make an announcement at 2:30 p.m. ET from the Oval Office. Executives from Ford , General Motors and Stellantis are expected to attend the announcement.

The Biden fuel efficiency standards were expected to stimulate the sale of elecric vehicles in the U.S. Trump has sought to roll back all

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