President Donald Trump announced Wednesday that his administration is resetting Biden-era Corporate Average Fuel Economy (CAFE) standards that increased car prices.

Trump and Transportation Secretary Sean Duffy announced the reset in the Oval Office while flanked by Republican lawmakers and auto industry leaders.

“We’re officially terminating Joe Biden’s ridiculously burdensome, horrible, actually, CAFE standards that impose expensive restrictions and all sorts of problems to auto makers,” Trump said.

The president noted that the CAFE standards imposed by the previous administration impacted both domestic and foreign manufacturers making cars for the American market and, in turn, consumers.

“And we’re not only talking about here, we’re talking about outside of our country, because nobo

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