Trump to expand diesel tax exemptions

U.S. President Donald Trump is seeking to issue an executive order to expand tax exemptions on diesel fuel, aimed at easing the pressure from rising prices that reached about $6.50 per gallon last month, as well as the impacts of the Iran and Ukraine conflicts on the market. Possible measures include increasing the availability of tax-exempt diesel fuel, especially red diesel used in agriculture and off-road equipment, and perhaps directing the Department of Transportation to coordinate with states. Trump's move comes as part of efforts to boost fuel supplies and reduce transportation costs amid economic and political pressures.

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