The future president of the United States, Donald Trump, added the 27 countries that make up the European Union (EU) to the list of trading partners that he threatens with tariffs, if the bloc does not cut its growing deficit with the world’s largest economy and if not import more goods.
The EU already buys the majority of US oil and gas exports, according to official US data, and no additional volumes are currently available unless the US increases production or volumes are diverted from Asia. another major consumer of American energy.
I told the European Union that they must make up their tremendous deficit with the United States by purchasing our oil and gas on a large scale.
Trump said in a post on his social network Truth Social. Otherwise, Tariffs all the way!
he warned.
The United States supplied 47 percent of the EU’s liquefied natural gas imports and 17 percent of its oil imports in the first quarter of 2024, data from the community statistics office Eurostat show.
The United States had a goods trade deficit with the EU of 155.8 billion euros ($161.9 billion) last year, but in services it had a surplus of 104 billion euros, according to Eurostat data.
The European Commission said it was willing to discuss with the next president how to strengthen an already strong relationship, including in the energy sector. The EU is committed to phasing out energy imports from Russia and diversifying our sources of supply
said a spokesperson.
Trump, who will take office on January 20, has already announced heavy tariffs on three of the US’s largest trading partners: Mexico, Canada and China.