The agency said the move would save US$2.4 billion in regulations on the greenhouse gases that firms would pass on to consumers.
But the Air-Conditioning, Heating, and Refrigeration Institute (AHRI) said in a statement that in fact the move might cause prices to jump.
“This rule works against basic supply and demand,” said Stephen Yurek, head of the group. “By extending the compliance deadline, the EPA is maintaining and even increasing demand in the market for existing refrigerants while supply continues to fall under the AIM Act.”
“Instead of falling, refrigerant prices are likely to rise, resulting in higher service costs, and higher costs for consumers.”
He said the Biden-era rules only applied to new equipment, and did not require replacing refrigeration already in existence.
Food economist David Ortega said “there’s very little here that would actually help lower grocery prices” and it’s “not very likely” that consumers will see their food bills drop.
The Michigan State University professor told AFP that along with injecting uncertainty into the industry, continued weather extremes due to climate change impact agricultural production and “can really just exacerbate food inflation over the long run.”
The current White House agenda is “not one that I would say is consistent with lowering food prices or food price inflation,” Ortega added, citing the impacts of trade policy battles, strict immigration curbs causing labor shortages and higher fuel costs due to the Iran war as issues that contribute to grocery expense hikes.
The cost of living promises to be the key issue in crucial US midterm elections in November in which Trump’s Republicans will be fighting to keep control of Congress.
A New York Times/Siena poll released Monday put Trump’s approval rating at 37 per cent, the lowest of his second term, with 64 per cent of voters saying the Iran war was a mistake and the same proportion disapproving of his handling of the economy.