The Economist.
Hello and welcome to The Intelligence from The Economist.
I'm Rosie Bloor.
And I'm Jason Palmer.
Every weekday we provide a fresh perspective on the events shaping your world.
Next year, Donald Trump will pick a new chair of the Federal Reserve.
The names are already swirling.
as is anxiety that the choice may be a political one.
First up, though.
Europe's Green Deal passed in 2023 was bold.
Our ambition is crystal clear.
The future of our clean tech industry has to be made in Europe.
Ursula von der Leyen, head of the European Commission, underlined the pledge for a healthy planet.
We stay the course.
We stay ambitious and we stick to our growth strategy.
A move towards electric cars was at the centre of that strategy.
Yesterday, the ambitious policy hit a roadblock.
The EU had promised to ban selling new diesel and petrol vehicles from 2035.
Now it's put the brakes on that plan.
It's been a difficult few years for the European auto industry and one of the things that they've been pushing hard for is a watering down of the EU's plan to ban petrol cars.