Trump Threatens EU with Tariffs Over Oil and Gas Purchases
President-elect Donald Trump demands the EU reduce its trade deficit with the U.S. by buying more American energy or face economic penalties.
- Donald Trump has warned the European Union to increase its oil and gas purchases from the U.S. or face tariffs, citing the trade deficit as a key issue.
- The EU currently imports the majority of U.S. oil and gas exports, but Trump has criticized the bloc for its overall trade imbalance with the United States.
- European officials, including Commission President Ursula von der Leyen, have expressed willingness to negotiate but remain concerned about potential economic fallout from a trade war.
- Trump's threats come as the EU seeks to reduce reliance on Russian energy and explores increased imports of U.S. liquefied natural gas (LNG).
- The situation raises broader questions about U.S.-EU trade relations and potential ripple effects on global markets as Trump prepares to take office in January.