Trump threatens EU with tariffs if it doesn’t buy more oil
Re-elected U.S. President Donald Trump said on Friday that he would impose tariffs on the European Union if the bloc did not buy more U.S. oil. Trump wrote on the social platform “Truth Social”: “I have told the European Union that it must make up for its huge deficit with the United States by buying a lot of our oil and gas.” Otherwise, it’s tariffs! ! “. According to US statistics, in 2022, the total value of goods imported by the United States from the EU was US$553.3 billion, while the United States exported US$350.8 billion to the 27 EU countries. The EU responded on Friday, with a spokesman for the European Commission saying it was willing to consider “how to strengthen the already solid relationship with the United States, including discussing common interests in the energy field with Trump.” The spokesperson for the European Commission also stressed that the overall trade balance must be taken into account. Although the EU has a “substantial” surplus in goods trade, the United States also has a “substantial” surplus in services trade. In early November this year, European Commission President von der Leyen had raised the possibility of the United States supplying more liquefied natural gas to the EU to replace Russian natural gas. Trump, who will take office as US President on January 20 next year, has threatened to impose higher tariffs on US trading partners, especially Canada, Mexico and China, which could have a negative impact on the global economy. On December 6 of this year, the European Union and the four South American countries of the Southern Common Market (Argentina, Brazil, Paraguay and Uruguay) concluded a huge trade agreement aimed at establishing a 7-nation trade bloc. Analysts believe Trump’s tariff threats could be a bluff or a bargaining chip for future trade negotiations once he takes office. Trump has repeatedly insisted that tariffs “used properly” will benefit the U.S. economy. “Our country is currently losing to everyone, and tariffs will make our country rich,” he said earlier this week.
