Trump’s Diesel Export Threat Puts Britain on Edge

President Trump's newest trade threat sent markets into a frenzy once again on Friday. Earlier this week, Trump said he would back Republican proposals to halt exports of diesel in order to ease prices ahead of mid-term elections in November. US Treasury secretary Scott Bessent said there was a review underway of whether a ban could work as American diesel prices reached record highs at over 4.87 a gallon. Fuel prices could put Britain under threat. Reform UK's Treasury spokesman Robert Jenrick reportedly wrote to Bessent to warn that a ban would be a "big mistake". Just as in the US, anger over spiralling fuel prices reflects the salience of motorists' concerns in the debate around the cost of living. Rachel Reeves' previous moves to freeze fuel duty at successive fiscal statements have been welcomed by the likes of the Royal Automobile Club RAC Foundation.