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U.S. President-elect Donald Trump said on Friday that the European Union may face tariffs if the bloc does not cut its growing deficit with the United States by making large oil and gas trades with the world's largest economy.
U.S. President-elect Donald Trump said on Friday that the European Union may face tariffs if the bloc does not cut its growing deficit with the United States by making large oil and gas trades with the world's largest economy.
The EU is already buying the lion's share of U.S. oil and gas exports, according to U.S. government data, and no additional volumes are currently available unless the United States increases output or volumes are re-routed from Asia - another big consumer of U.S. energy.
"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 on Truth Social.
"Otherwise, it is TARIFFS all the way!!!," he added.
The European Commission said it was ready to discuss with the president-elect 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," a spokesperson said.
The United States already supplied 47% of the European Union's LNG imports and 17% of its oil imports in the first quarter of 2024, according to data from EU statistics office Eurostat.
Trump has vowed to impose tariffs on most if not all imports, and said Europe would pay a heavy price for having run a large trade surplus with the U.S. for decades.
Trump has repeatedly highlighted the U.S. trade deficit for goods, but not trade as a whole.
Most European oil refiners and gas firms are private and the governments have no say on where the purchases are coming from unless authorities impose sanctions or tariffs. The owners usually buy their resources based on price and efficiencies.
The EU’s increased reliance on U.S. energy followed sanctions imposed on Russia after starting war in Ukraine in 2022, further shifting the bloc’s energy trade dynamics.
AnewZ has learned that India has once again blocked Azerbaijan’s application for full membership in the Shanghai Cooperation Organisation, while Pakistan’s recent decision to consider diplomatic relations with Armenia has been coordinated with Baku as part of Azerbaijan’s peace agenda.
A day of mourning has been declared in Portugal to pay respect to victims who lost their lives in the Lisbon Funicular crash which happened on Wednesday evening.
A Polish Air Force pilot was killed on Thursday when an F-16 fighter jet crashed during a training flight ahead of the 2025 Radom International Air Show.
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Cuba has called for the United Nations to stop the United States from starting a war in the region, amid rising tensions due to a military build-up in the Caribbean to counter drug cartels.
Denmark did not invite the U.S. military to take part in Arctic Light 2025, the largest military exercise in Greenland's modern history, as NATO allies step up defence cooperation in the Arctic amid U.S. interest in the island.
NATO has strengthened its security to safeguard undersea infrastructure, since a suspected sabotage in January this year in the Baltic Sea. The alliance now deploys air and naval patrols, and warns that attacks will not go unpunished.
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