for Auto industry
A strong Q1 after a surprising 2020 suggests vehicle electrification in the United States is on the rise. More must be done to ensure rising EV sales lift U.S. energy security with them.
The USMCA appears to calm oil industry fears that revisions to NAFTA would endanger investor protections, while Canada and Mexico both have carveouts to avoid vehicle tariffs.
The auto industry is reportedly conveying to the administration that it wants to seek a compromise with California in order to avoid two different fuel economy standards.
Both the oil and car industries require deep capital investments and long lead times, and at times are rocked by global macroeconomic forces beyond their control. Right now, they are taking opposite strategies.