President Trump took to Truth Social tonight and announced that he is approving new fuel economy standards which will effectively terminate Joe Biden's electric vehicle mandate.

According to Trump, this move will reduce waste and lower the cost of cars for American families. It's also great news for the auto manufacturers.

All of this is great news.

Townhall reports:

President Donald Trump says that he has approved new fuel economy standards that should cut the costs of the vehicle market.

"BIG DAY FOR AMERICAN AUTO WORKERS AND CAR BUYERS! I have just approved new Fuel Economy Standards that TERMINATE Sleepy Joe Biden and Pete Boot-EDGE-EDGE's ridiculous EV Mandate," Trump wrote on Truth Social. "The Dumocrats cost our Great Auto Manufacturers $Billions, forced Americans into cars they never wanted, and wasted Billions on Chargers that were never built."

The new standards terminate the EPA's electric vehicle mandate.

"These new Standards will take the waste out of ?building cars in America. That means LOWER PRICES, saving families thousands on a new, beautiful, and safe car," Trump wrote. "Far better than the Environmental Monsters that we were building heretofore. Every Manufacturer, from General Motors to Ford to Stellantis, has called me wanting to build here, and now they can!"

The final rule isn't available yet. Under former President Joe Biden, the EPA had ordered about 67 percent of new light-duty and medium-duty vehicle sales to be electric by 2032.