Tesla investors are focused on other things right now, but they should pay attention. Thursday, President Donald Trump signed a joint resolution of Congress to eliminate California’s ability to regulate its air emissions,

President Donald Trump moved Thursday to eliminate California’s nation-leading vehicle emissions standards, upending strict rules that had become a template for states across the nation to realize their greenhouse gas ambitions.

Trump also revoked two other Biden-era waivers on Thursday. Those would have allowed California to require vehicle makers to produce an increasing number of zero-emission heavy-duty trucks, and to reduce nitrogen oxides, a component of smog, from heavy-duty highway and off-road vehicles and engines.