While it sounds great in theory, I would be very concerned that all it would take is someone to put a transmitter system somewhere that could send false information and you could cause at the very least a whole highway to jam on the brakes or all suddenly swerve out of lane.
I don't see how you could possibly authenticate that this was genuinely information from another car and that you should act upon it.
You would have absolutely no control whatsoever over the veracity and quality of the data your were receiving.
Even without any malevolent motivation, it's possible that a car could send a false signal.
Then from a legal liability point of view, would the driver with the faulty system then be legally liable for multiple road accidents?
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If you want to look at Trump deregulation impacting people, there are plenty of examples, but this isn't one of them.
It may be for the wrong reasons, but this sounds like a technology that absolutely does not need to be mandated in cars.