Trump tells automakers not to raise prices

The Wall Street Journal is reporting that U.S. president Donald Trump has warned automakers not to raise prices.

Trump told executives of American automaking companies that the White House would look unfavourably on price hikes, according to a person with knowledge of the call.

They also said the companies are worried they will face punishment from the Trump administration if they do need to increase prices.

Trump reportedly also said that they should be grateful for his elimination of what he called Biden’s “electric vehicle mandate,” which involved subsidies to encourage electric car production.

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