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  5. US Threatens Tariffs Unless Europe Increases Oil and Gas Imports

US Threatens Tariffs Unless Europe Increases Oil and Gas Imports

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US President-elect Donald Trump has threatened the European Union with tariffs if the bloc does not increase its purchase of oil and gas from the US. Trump's threat comes after the EU's trade deficit with the US reached $131.3 billion in 2022. Trump has stated that the EU must make up its deficit with the US, warning that otherwise, "it is TARIFFS all the way!!!" The EU has responded by saying it is open to talks with Trump, but has not yet commented on the specific terms of a potential trade deal. The US is the world's largest producer of oil and has emerged as the biggest supplier of liquefied natural gas (LNG) to the EU. Trump's threat of tariffs has reignited fears of a looming trade war between the US and the EU.

  1. BE
    Olof Gill
    European Commission
    1. The EU and U.S. have deeply integrated economies, with overall balanced trade and investment. We are ready to discuss with President-elect Trump how we can further strengthen an already strong relationship, including by discussing our common interests in the energy sector.
  2. DE
    Ursula Von Der Leyen
    European Commission
    1. We still get a whole lot of LNG via Russia, from Russia.
    2. And why not replace it with American LNG, which is cheaper, and brings down our energy prices.
  3. US
    Donald Trump
    Republican Party
    1. I told the European Union that they must make up their tremendous deficit with the United States by the large scale purchase of our oil and gas. Otherwise, it is TARIFFS all the way!!!.
  4. GB
    David Oxley
    Capital Economics
    1. The key point is that the surge in global LNG exports over the coming years will help to reduce the prices of natural gas in Europe and Asia.
    2. President-elect Trump's social media outburst warning the EU to buy more US oil and gas won't cause sleepless nights in Brussels. After all, whereas EU officials might have balked had they been implored to buy armfuls of Trump's fragrances or watches, it's firmly in the bloc's interest to purchase US LNG as part of the continued shift away from Russian gas molecules.

Trump's tariffs

  1. Donald Trump Announces 90-Day Tariff Reduction with China
  2. US and China Reach New Agreement on Tariffs After Ongoing Trade Negotiations in Geneva
  3. Donald Trump Proposes Significant Reduction in China Tariffs Amid Ongoing Trade Negotiations

sources

  1. 1.The Times of India
  2. 2.The Guardian
  3. 3.The New York Times
  4. 4.Al Jazeera
  5. 5.CNBC

perspectives

  1. 1.US under Donald Trump
  2. 2.Chinese Foreign Policy
  3. 3.US-China Relations
  4. 4.Immigration to the US
  5. 5.US Economy
  6. 6.Inflation
  7. 7.Trade Agreement
  8. 8.World Economy
  9. 9.US-India relations
  10. 10.Mexico under Claudia Sheinbaum
  11. 11.US-EU relations
  12. 12.United States–Mexico–Canada Agreement

countries

  1. 1.ArgentinaAR
  2. 2.BrazilBR
  3. 3.CanadaCA
  4. 4.ChinaCN
  5. 5.GermanyDE
  6. 6.MexicoMX
  7. 7.ParaguayPY
  8. 8.Russian FederationRU
  9. 9.UkraineUA
  10. 10.United StatesUS
  11. 11.UruguayUY

organizations

  1. 1.European Commission
  2. 2.European Union
  3. 3.Gotion High-Tech
  4. 4.Harley Davidson
  5. 5.Truth Social
  6. 6.Capital EconomicsGB
  7. 7.Energy Information Administration
  8. 8.Eurostat
  9. 9.ING bankNL
  10. 10.Levi
  11. 11.White HouseUS

persons

  1. 1.Ursula Von Der LeyenDE
  2. 2.Donald TrumpUS
  3. 3.Olof GillBE
  4. 4.Jean-Claude JunckerBE
  5. 5.Jonah Hull
  6. 6.Olaf ScholzDE
US Threatens Tariffs Unless Europe Increases Oil and Gas Imports