May 11, 2018

Auto industry execs to meet with Trump amid policy tension

Trump at a previous meeting with Auto industry leaders. Photo: Pool/Getty Images

Executives with major automakers are headed to the White House to meet with President Trump at 11:45am ET.

Why it matters: Automakers are in a delicate spot, as we noted earlier this week. They've complained that Obama-era mileage mandates for model years 2022–2025 are unrealistically tough.

Yes, but now they're also worried that the Trump administration's rewrite is heading too far in the other direction — one option is simply freezing 2020 standards in place — and could provoke a messy showdown with California and states that follow its lead.

The strategy: Robbie Diamond, executive director of Securing America’s Future Energy, is familiar with the industry's approach to the meeting.

  • He tells my colleague Amy Harder that the executives plan to put their message on mileage standards in Trump-ian terms, along the lines of: "This is the most important industry in the heartland of the U.S. This is the better deal, help us get there."
  • "Hopefully Trump understands that he’s well positioned to make it happen," Diamond said. His group supports increasing mileage standards to help curb the nation's reliance on oil.

Full list of attendees:

Go deeper: Via NYT, the massive companies with global supply operations are also spooked by Trump's hawkish trade posture. The WSJ sets the table for the meeting here.

Go deeper

Congress' $250 billion PPP injection could come too late for some businesses

Illustration: Sarah Grillo/Axios

Before the Paycheck Protection Program formally launched last Friday, we knew two things: The rollout would be rocky, and the initial $250 billion wouldn't be enough for America's small businesses.

The state of play: Banks and government officials have been working to smooth out the process, and on Thursday the Senate will vote to pump another $250 billion into the program.

Fauci: Social distancing could reduce coronavirus death toll to 60,000

Photo: Chip Somodevilla/Getty Images

Dr. Anthony Fauci, the director of the National Institute of Allergy and Infectious Diseases, told NBC's "Today" on Thursday that he's hopeful that social-distancing measures in place across the U.S. will reduce the total number of coronavirus deaths.

Why it matters: Fauci said that while early models projected between 100,000 and 200,000 U.S. deaths from the pandemic, he now believes that number could come down to 60,000 — but he emphasized the importance of keeping social distancing in place to ensure that trend holds.

Go deeperArrow18 mins ago - Health

OPEC+ and G20 energy meetings mark zero hour for oil diplomacy

Illustration: Aïda Amer/Axios

The next two days will be pivotal for determining whether large oil-producing countries can partially stabilize an industry reeling from very low prices and the historic, coronavirus-fueled collapse in demand.

Driving the news: The OPEC+ group led by Saudi Arabia and Russia begin meeting remotely later Thursday morning to discuss production cuts, to be followed by a virtual Friday meeting among G20 energy ministers that includes the U.S.