EU says US diesel export plan is 'bad idea' that risks hurting both sides
Brussels has pushed back against a US proposal to curb diesel exports, even as the White House insists it's aiming for targeted restrictions rather than an outright ban.
The European Union has criticized a potential US diesel export ban proposed by President Donald Trump, labeling it an unwise decision that could harm both economies. Trump suggested support for the ban this week, as surging fuel prices due to the Middle East conflict threaten to cost his Republican party congressional seats in the November midterms.
However, European Commission spokesperson Olof Gill expressed concern over the plans, stating, "We believe this is a bad idea. We believe it potentially can have a negative impact on both sides." Europe has faced high fuel prices since the US-Iran war began in late February, but it relies more heavily on imports than the US. The EU's average diesel price reached a record €2.23 per litre in August, with the US supplying around 50% of the bloc's diesel imports that month.
The EU expects close partners to consult before taking measures that impact shared markets. US Energy Secretary Chris Wright attempted to clarify the administration's stance, suggesting the ban would involve restrictions rather than an outright ban. He emphasized that the US aims to maintain global market supply while addressing domestic price trends and that any measures would be voluntary.
The US diesel export ban proposal has alarmed the oil and gas industry, which warns that restricting exports could lead to unintended consequences and higher domestic prices for both diesel and petrol. Industry trade groups have strongly opposed the idea, urging policymakers to reject the "short-sighted approach" and focus on solutions that can lower fuel prices at the pump.
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