logo
Trucking exec 'hopeful' as Trump EPA targets blue-state emissions regs: 'Light at the end of the tunnel'

Trucking exec 'hopeful' as Trump EPA targets blue-state emissions regs: 'Light at the end of the tunnel'

Yahoo23-02-2025

Truckers are "very hopeful" about the trajectory of the auto industry under President Donald Trump after years of feeling like the Biden administration "completely fell asleep behind the wheel," a trucking executive told Fox News Digital.
"We're excited, hopeful, because the new administration will help with the issues that we're having," Mike Kucharski, co-owner and vice president of JKC Trucking, told Fox News Digital as the Trump administration walks back on Biden-era regulations mandating the sale of more electric vehicles (EVs).
Former President Joe Biden granted California a waiver allowing them to enforce emissions standards that are more stringent than other states, including the Advanced Clean Trucks regulation, which mandates that truck manufacturers sell more zero-emission heavy-duty trucks. However, in February, the Environmental Protection Agency (EPA) sent the previously granted waiver to the Republican-controlled Congress for review.
If Congress decides to strike down the waiver, California could lose its ability to enforce the independent emissions standards, which truckers believe would be "a huge win for the industry," according to Kucharski.
Epa Administrator Zeldin Demands Return Of $20B In Taxpayer Money Wasted By Biden Administration
"California doesn't dictate the nation," the trucking executive told Fox. "And the frustrating part is, we're in Illinois, we're not in a much better state than California. But we need a technology that we can use across the whole U.S., not one state demanding that they do it."
Read On The Fox News App
Kucharski says that truckers are in support of green energy alternatives, but that the industry does not have the infrastructure for such strict mandates, citing the 2023 California heatwave when residents were told to avoid charging their electric vehicles due to the heat.
Experts Say First Week Of 'Trump Effect' Is Derailing Global Climate Movement's 'House Of Cards'
The big-rig executive also raised concerns over the ability to charge a large quantity of electric big-rig trucks in California if the emissions standards remain in place.
"Where's that power going to come from? We would need a miracle or some super-alien technology to make that work," he told Fox News Digital.
California's standards, which are the strictest in the country, also "cost truckers money," he said.
"Right now, we don't have the money, we're still dealing with aftershocks of COVID," Kucharski told Fox. "We hope that this administration can pull us out of this black hole."
"Truckers are seeing a light at the end of the tunnel. I'm very hopeful," Kucharski said. "This administration, they're at least looking out for the good of the American people and for the truckers. And I hope they can get this economy roaring again, as they did in the first administration."
As the EPA pulls back on the green energy push, Kucharski said there are three issues truckers hope to see addressed under the Trump administration: overregulation, the cost of diesel and achieving energy independence.Original article source: Trucking exec 'hopeful' as Trump EPA targets blue-state emissions regs: 'Light at the end of the tunnel'

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Trump's latest trade threat looms over Wall Street as investors celebrate stock market's return to record territory
Trump's latest trade threat looms over Wall Street as investors celebrate stock market's return to record territory

Yahoo

time29 minutes ago

  • Yahoo

Trump's latest trade threat looms over Wall Street as investors celebrate stock market's return to record territory

Major equity indexes including the S&P 500 tallied their first record closing highs in months on Friday — but something happened on the way to the closing bell that left a bad taste in some traders' mouths. Just a couple of hours before trading was set to conclude for the week, President Trump surprised investors with a Truth Social post that briefly sent stocks skittering into the red. 'He doesn't seem to care': My secretive father, 81, added my name to a bank account. What about my mom? My brother stole $100K from my mom to buy bitcoin. Do I convince her to sue him? My job is offering me a payout. Should I take a $61,000 lump sum or $355 a month for life? Most American weddings are a lot more extravagant than the nuptials of Amazon's Jeff Bezos Tech stocks are powering this record-setting rally on Wall Street — but how long can it last? The president announced that the U.S. would immediately end all trade talks with Canada in retaliation for Ottawa imposing a digital-services tax on American technology giants. 'Based on this egregious Tax, we are hereby terminating ALL discussions on Trade with Canada, effective immediately. We will let Canada know the Tariff that they will be paying to do business with the United States of America within the next seven day period,' Trump said in the post. Although it may have been incidental, the timing of the post didn't sit well with some on Wall Street. Even though stocks had shaken off most of the losses by the closing bell, some investors couldn't help but wonder whether the market's remarkable comeback rally might have emboldened Trump to once again take a more aggressive tack on trade. If that was in fact the case, it could go a long way toward undoing much of the progress that has been made in markets over the past couple of months. Trump blamed turmoil in financial markets for his decision to walk back many of his most troublesome 'liberation day' tariffs in April after the S&P 500 tumbled right to the edge of bear-market territory, while ructions in the bond market stoked widespread alarm. Ultimately, the decision to hit the pause button helped inspire the concept of the 'TACO' trade. In this case, TACO stands for 'Trump Always Chickens Out.' See: The 'Trump always chickens out' trade is the talk of Wall Street. Here's one way to play it. But now that things have calmed down, could the TACO trade return — but this time, in reverse? 'If you think about it, he shifted when the market fell,' said George Cipolloni, a veteran portfolio manager, during a phone interview with MarketWatch Friday afternoon. 'He probably feels like he has a bit of wiggle room because the stock market has done so well over the past couple of months.' It isn't just markets. Cipolloni also pointed out that inflation has remained relatively tame since Trump imposed the first tariffs of his second term earlier this year, defying the expectations of many economists. That price pressures have yet to significantly surface in the data could also encourage Trump to consider taking a hard line on tariffs as he seeks political victories he can bring home to his base. Additional tariff revenue, in theory, could help offset the budgetary impact of his signature budget plan to extend tax cuts passed during his first term in office — unless parts of the economy, like farmers, require another round of significant federal bailouts due in part to tariffs. To be sure, the latest official economic data released this week included some signs of weakness that investors might want to consider, according to Mike O'Rourke, chief market strategist with Jones Trading. Revised first-quarter GDP, released earlier in the week, showed the economy contracted by more than previously believed between the beginning of January and the end of March. Then on Friday, new data showed personal spending declined in May for the first time in four months, while a reading on core inflation came in slightly hotter than expected. Although the inflation reading didn't exactly move the needle, Federal Reserve Chair Jerome Powell did say during congressional testimony earlier in the week that he expected tariffs to start to show up in the inflation data some time this summer. So far, investors have been mostly happy to tune out the constant noise regarding the administration's trade agenda as the Trump team pursued its goal of '90 trade deals in 90 days' as first touted back in April, O'Rourke said. In late May, Trump announced plans to slap a 50% tariff on E.U. imports, before quickly backing down after European leaders promised to speed up talks. Pain for stocks during that episode was pretty short-lived. On Friday, Commerce Secretary Howard Lutnick said during an interview that the U.S. and China had completed an accord negotiated last month in Geneva, and added that deals with 10 major trading partners would be announced imminently. Investors will be keeping a close eye on how things go with Canada, and a deal with the E.U. remains top of mind as well, O'Rourke said. Given Trump's unpredictable nature, it is impossible to say with certainty what might happen next. O'Rourke thinks there is almost no chance that Trump will allow the 'liberation day' levies to return. Indeed, Trump himself said earlier that he might not stick to the deadline. But with so much about Trump's trade agenda still up in the air, investors may want to consider taking some chips off the table. 'It's very easy for the tariff situation to come back into play, and this could be the first shot across the bow here,' O'Rourke said about Trump's decision to end talks with Canada. 'The way investors have to look at this is: Do you want to roll the dice here?' The S&P 500 SPX gained 32.05 points, or 0.5%, to finish at 6,173.07 on Friday — a record close, and the index's first since Feb. 19, Dow Jones Market Data showed. The Nasdaq Composite COMP rose by 105.55 points, or 0.5%, to 20,273.46, its own first record close since Dec. 16. The Dow Jones Industrial Average DJIA also finished higher, although it remained shy of record territory. The trade truce between the U.S. and China, strong consumer-confidence data from the University of Michigan, and investors' positive reaction to earnings from Nike Inc. NKE were just some of the factors that helped push stocks higher on Friday, according to Farzin Azarm, a managing director at Mizuho Securities USA. Reports about a coming U.S.-E.U. trade deal and an administration plan to boost energy availability for the purpose of powering the expansion of artificial-intelligence technology also helped, Azarm noted. 'I am horrified': My company won't allow me to tip more than 15% for Ubers. Do I explain this to the driver? JPMorgan has a new way of forecasting the stock market — and there's a surprising finding My cousin died before claiming his late father's $2 million estate. Will I be next in line for this inheritance? S&P 500 scores record high for first time in 4 months. What could push stocks higher from here? Coinbase's stock is up over 40% this month as Wall Street projects amazing profit growth

Goldman Sachs warns tariffs won't help the U.S. boost manufacturing productivity as tech in American factories continues to lag
Goldman Sachs warns tariffs won't help the U.S. boost manufacturing productivity as tech in American factories continues to lag

Yahoo

time29 minutes ago

  • Yahoo

Goldman Sachs warns tariffs won't help the U.S. boost manufacturing productivity as tech in American factories continues to lag

U.S. manufacturing has decelerated recently, both as a result of increased competition from China and as part of a broader manufacturing productivity slowdown. Goldman Sachs analysts argue tariffs will not lower supply chain and labor costs enough to boost reshoring, and instead, increased automation will be the most likely driver of a manufacturing productivity boost. As China continues to best the United States in manufacturing capabilities, tariffs may not be America's best bet to boost factory productivity. Instead, the U.S. should look to AI and automation to gain an edge in manufacturing, Goldman Sachs analysts argue. President Donald Trump aspires to return factory jobs to American shores by imposing steep tariffs on U.S. manufacturing rivals, but the taxes can only incentivize reshoring so much, analysts said in a note published Thursday. Instead, manufacturers should look to automation and the ever-more-accessible artificial intelligence as their best chance for boosting domestic manufacturing. 'A pickup in the pace of innovation—potentially from recent advances in robotics and generative AI—therefore remains the catalyst most likely to reverse the long-run stagnation in manufacturing productivity,' analyst Joseph Briggs and colleagues said in the note. As China capitalizes on automation and cheaper labor to grow its export footprint, the Bank of America Institute has found mounting evidence of a recent U.S. manufacturing slowdown, including U.S. Census Bureau data showing new orders for manufactured durable goods decreasing 6.3% in April. The Institute of Supply Management Manufacturing Purchasing Managers' Index (PMI) has fallen since March, also indicating a contraction. The U.S.'s productivity woes are part of a larger manufacturing productivity slowdown happening over the last two decades as a result of investment pullback following the global financial crisis, as well as a slowdown in the burst of technological advancements of the early 2000s, according to Goldman Sachs. Trump's tariff plans for China—which the president has not disclosed, despite touting a new trade deal—aim to help the U.S. claw back manufacturing opportunities from its economic rival. But while they make consumers' lives more expensive, they are not a panacea for manufacturers, the bank argued in its note. 'Tariffs are unlikely to result in much reshoring because production costs in other countries are well below the U.S.' for most products (even after accounting for tariffs), and China will likely continue to grow its exports on the back of cost advantages and industrial policy support,' the note said. Instead, analyst Briggs said, the U.S. should focus on another area in which it's lagging: automation. The U.S. has trailed other manufacturing giants in implementing AI into factory operations, according to a Boston Consulting Group (BCG) Henderson Institute report released earlier this month. Only 46% of U.S. respondents of BCG's Global Manufacturing Survey of 1,000 manufacturers reported multiple use cases of AI in their plants, falling short of the 62% average and lagging behind China's 77%. 'This is one of the key technologies that I think could drive productivity growth in a cost-competitive manner,' Briggs told Fortune. 'And we just haven't seen that occur on a meaningful scale yet.' The U.S. did not previously invest in factory automation as a result of a 'hangover' from the global financial crisis, Briggs said, but the U.S. now has a real shot at prioritizing factory technology updates, given the growing ubiquity and therefore affordability of automation and AI. Companies such as aviation precision parts-maker MSP Manufacturing have already begun to adapt accordingly. MSP president and chief operating officer Johnny Goode recently learned of an AI-powered software able to program the machine building the precision parts, reducing production time from an hour and a half to seven minutes per part—plus 15 minutes necessary for a human operator to refine it. 'I was like, holy snap, this is going to be a game changer,' Goode told Fortune's Jeremy Kahn this week. 'Going from 90 minutes to 22 minutes is a big deal, and we've seen that get even better as we've learned to use the software more.' Goldman Sachs analysts conceded that while automation provides the largest area for growth in manufacturing productivity in the U.S., it is unlikely to solve the broader manufacturing slowdown, which is global. The slowdown is 'historically unusual,' Briggs said, with the maturation of the tech sector the likely culprit. Any hope for a global uptick in productivity would come from mass advancement and adoption of AI and robotics on a large scale. 'The main thing that would drive a large pickup in manufacturing productivity and manufacturing growth would be a sharp increase in the pace of innovation,' Briggs said. 'And this type of inflection upwards and technological progress are very hard to predict.' Advancement in tech could have a two-fold benefit for domestic manufacturing productivity, both in driving factory investments and in bettering technology to be installed in factories to automate tasks. But with the specifics of the future of AI and automation applications still unknown, it's difficult to predict whether a reversal of a domestic manufacturing slowdown is truly possible. 'We just need to see it happen before we have a lot of confidence in that dynamic being a big driver,' Briggs said. This story was originally featured on

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store