Big business warns Trump against diesel export ban in joint letter

The biggest business groups in the U.S. warned President Trump against a diesel export ban this week, saying in a joint letter that such an action would prove counterproductive and raise fuel prices rather than lower them. The U.S. Chamber of Commerce, Business Roundtable, National Association of Manufacturers, American Petroleum Institute and dozens of other groups told Trump that an export ban would "lead to less fuel production, tighter supplies and rising costs for American families, farmers and truckers.""You have been asked by some to ban or limit the export of diesel to help lower prices, when in fact the opposite would occur," the groups warned in the letter sent to Trump on Wednesday.You can download the letter hereTrump is facing growing political pressure from Republican lawmakers in farm states including Iowa to take action to lower fuel prices ahead of the U.S. midterm elections. Diesel cost a national average of $6.51 per gallon Thursday, $2.82 more expensive than the same period last year, according to data from AAA.Trump said Tuesday that he has advocated for an export ban during deliberations within the administration. The remarks took the oil industry and business...