UK business minister warns potential US diesel export ban ‘significant concern’

LIVERPOOL, England — A potential U.S. ban on diesel exports would be “a significant concern” for the U.K., Business Secretary Jonathan Reynolds said Sunday.

Speaking at The POLITICO Pub at Labour’s annual party conference in Liverpool, Reynolds said that the U.K. has a “diverse supply” of fuel — but acknowledged the impact a full ban could have.

It is the strongest warning yet from the U.K. government over the impact of the proposed diesel shut-in, which threatens to send prices soaring for European consumers.

The U.K. receives around one-sixth of its diesel from the U.S. and would be one of the countries most exposed to an export ban. However, Reynolds cautioned that it is important to “make a distinction between the statements and what is actually being proposed by the U.S.”

Donald Trump has said he is in favor of proposals to bar American diesel exports against a backdrop of high prices for American drivers and farmers, and with midterm elections looming. A 90-day ban has been considered, along with more limited voluntary export restrictions.

“Clearly something like that … would be a significant concern to the U.K,” Reynolds said when asked about the prospect of a full ban. “Our resilience comes from a diverse supply in a whole range of areas and fuel is no different to that.”

Reynolds is the latest senior European politician to voice concern over potential diesel export restrictions. On Thursday French President Emmanuel Macron said he had urged Trump against it, warning it would be a bad idea “not just for the rest of the world, but for the U.S. economy as well.”