"I think (rate cuts) will help, but whether they're going to be sufficient to counter the negative trade pressures and global growth slowdown and impact is debatable," one...Central Banksread more
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WASHINGTON, June 6 (Reuters) - A group of major automakers on Thursday backed a compromise on vehicle emissions aimed at heading off a confrontation between California and the Trump administration over requirements through 2026.
In a letter to California Governor Gavin Newsom on Thursday signed by more than a dozen major automakers including General Motors Co, Toyota Motor Co and Volkswagen AG , the companies urged a compromise "midway" between the Obama era standards that require about 5% annual decreases and the Trump administration's proposal that would freeze vehicle emissions requirements at 2020 levels through 2026.
In a separate letter to President Donald Trump, they urged "both the federal government and California to resume discussions and to remain open to regulatory adjustments." (Reporting by David Shepardson Editing by Bill Berkrot)