9/6/2019, 4:13 PM (Source: TeleTrader)
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Kudlow: Regulations must be lowered in auto industry

Regulations need to be lowered in the auto industry in the United States to allow producers to manufacture "safer and cheaper" cars, Director of the US National Economic Council Larry Kudlow told CNBC on Friday. Kudlow also blamed the administration of former President Barack Obama for "excessive" and "erroneous" rule-making that was "not built on proper cost-benefit analysis." He added that carmakers asked for regulations to be lowered.

Commenting on California's decision to include emissions rules that the administration of President Donald Trump is trying to eliminate, Kudlow said the regulations for carmakers need to be unified on a federal level.

Kudlow also stated that President Donald Trump met General Motors CEO Mary Barra earlier this week and that she "expressed her support" for the work Trump is doing. They agreed that the president should join her for a trip to an Ohio factory in the near future.

Breaking the News / VP