Shares in European truck makers fell on Thursday after the U.S. Environmental Protection Agency (EPA) said it would start efforts to reverse the Biden administration's vehicle emissions rules.

The Trump administration is rolling back several major climate policies, including two rules that target planet-warming pollution from vehicles and power plants, in a major blow to America’s progress on climate action.

The U.S. Environmental Protection Agency said on Wednesday it is starting efforts to reverse the Biden administration's vehicle emissions rules that would force automakers to build a rising number of electric vehicles.

The EPA under President Trump is taking aim at foundational climate-change laws, which could fundamentally change America.

The American auto industry has been hamstrung by the crushing regulatory regime of the last administration," EPA Administrator Lee Zeldin said in a statement. "As we reconsider nearly one trillion dollars of regulatory costs,