Trump urges EU to boost US energy imports or face tariffs

Source: Reuters

Trump urges EU to boost US energy imports or face tariffs
By Reuters

December 20, 2024 10:45 AM EST * Updated an hour ago


U.S. President-elect Donald Trump delivers remarks at Mar-a-Lago in Palm Beach, Florida, U.S., December 16, 2024. REUTERS/Brian Snyder/File Photo

Summary
* Trump says EU has tremendous trade deficit with the US
* Europe is already buying large chunk of US oil and gas
* US already exporting all the energy it doesn't consume at home
* EU says it is ready to discuss trade ties, including energy

Dec 20 (Reuters) - U.S. President-elect Donald Trump said on Friday that the European Union, already the biggest buyer of U.S. energy, should step up U.S. oil and gas imports or face tariffs on the bloc's exports that include goods such as cars and machinery.

The EU already buys the lion's share of U.S. oil and gas exports, according to U.S. government data.

No extra volumes are currently available as the United States is exporting at capacity, but Trump has pledged to further grow the country's oil and gas production.

"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," Trump said in a post, opens new tab on Truth Social. ... Otherwise, it is TARIFFS all the way!!!," he added.

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Read more: https://www.reuters.com/world/us/trump-says-eu-should-make-up-tremendous-deficit-with-us-by-purchasing-its-oil-2024-12-20/