Trump’s diesel threats could go very wrong — just look at the soyabean
- Posted on October 2, 2026
- By Financial Times
- 13 Views
- 1 min read
In brief
Historical precedent warns against protectionist trade policies targeting diesel and fuel exports. Nixon's 1973 soybean export embargo temporarily reduced domestic prices but triggered severe long-term consequences including supply chain disruptions, retaliatory tariffs, and weakened agricultural competitiveness. Modern diesel restrictions risk similar unintended economic damage, potentially harming domestic producers, increasing consumer costs, and destabilizing international trade relationships beyond immediate price relief.
Summary auto-generated by AI from the original publisher's content. Editorial standards.
Trump’s diesel threats could go very wrong — just look at the soyabean
Yes, Nixon’s export ban did briefly suppress domestic prices but it had a huge long-term cost
