Key facts
- The U.K. receives about one-sixth of its diesel from the U.S.
- U.K. Business Secretary Jonathan Reynolds called a potential U.S. diesel export ban a 'significant concern'.
- French President Emmanuel Macron previously urged Donald Trump against such a ban, warning of negative impacts on the global and U.S. economies.
U.K. Business Secretary Jonathan Reynolds expressed significant concern on Sunday regarding a potential U.S. ban on diesel exports, warning it could send prices soaring for European consumers. Speaking at the Labour Party conference in Liverpool, Reynolds noted that the U.K. receives approximately one-sixth of its diesel from the United States, making it one of the most exposed countries to such a restriction. He emphasized the U.K.'s reliance on a diverse supply chain for fuel but acknowledged the potential impact of a full ban. Reynolds also advised distinguishing between proposed actions and actual policy. President Donald Trump has indicated support for barring U.S. diesel exports amid high domestic prices and upcoming midterm elections, with a 90-day ban being considered. French President Emmanuel Macron had previously urged Trump against the ban, stating it would be detrimental to both the global and U.S. economies.