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 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,

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.