The European Union is urging the United States to reconsider a potential ban on diesel exports, which President Donald Trump is reportedly contemplating. EU officials, including spokesman Olof Gill, have described the idea as a "bad idea" that could detrimentally affect both sides of the Atlantic. The EU views this potential measure with significant concern, emphasizing the need for close partners to consult each other before implementing policies that impact shared markets.
Trump is reportedly considering a 90-day export ban to alleviate high domestic pump prices for US households ahead of the midterm elections, with US diesel reaching a record average of $6.52 per gallon. However, the EU warns that any disruption would negatively impact both the US and Europe. For Europe, which relies heavily on US diesel, a ban could be particularly damaging; US exports have constituted a third of the EU's total diesel imports, and in August, the US supplied approximately 50% of the bloc's diesel imports. Europe has seen its average diesel price hit a record €2.23 per liter.
US Energy Secretary Chris Wright has sought to clarify that the administration aims for targeted restrictions rather than an outright ban, stating that the US needs to keep global markets supplied while addressing domestic prices. Industry trade groups in the US have also expressed strong opposition, cautioning that curbing exports could lead to unintended consequences and higher domestic prices for both diesel and gasoline. Republican lawmakers, however, are pressuring Trump for a ban, citing record diesel prices of $6.53 per gallon and the impact on farmers and truckers.
