Trump Threatens EU with Tariffs if Oil and Gas Imports Don't Increase
2024-12-20
Reuters
US President-elect Donald Trump has warned the European Union that it may face tariffs if it doesn't reduce its trade deficit with the US by increasing imports of American oil and gas. The move is seen as an effort to boost US energy exports and reduce the trade gap. With the EU's growing energy needs, Trump's administration is pushing for increased cooperation on energy trade, including liquefied natural gas (LNG) and crude oil exports. The potential tariffs could have significant implications for global energy markets and trade relations. Key issues include energy security, trade deficits, and economic growth.