Saturday December 21, 2024

Trump requires EU to buy U.S. oil and gas or face tariffs

Published : 21 Dec 2024, 02:36

  DF News Desk
Donald Trump (2nd, R) attends the opening bell ceremony at the New York Stock Exchange in New York, the United States, on Dec. 12, 2024. File Photo: NYSE Group/Handout via Xinhua.

U.S. President-elect Donald Trump has warned the European Union (EU) that it must commit to buying large amounts of U.S. oil and gas or face tariffs, reported Xinhua.

"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. Otherwise, it is TARIFFS all the way!!!" Trump wrote on his Truth Social platform Friday.

Trump, who is to take office in January, has made sweeping threats of slapping tariffs on U.S. trading partners, including the EU.

His latest threat came after the EU already made overtures offering to buy more U.S. liquefied natural gas.

According to Eurostat figures, the EU exported 502 billion euros (about 542 billion U.S. dollars) worth of goods to the United States in 2023.

During Trump's first term, his "America First" doctrine placed considerable strain on U.S.-EU relations, sparking disputes over trade tariffs, NATO funding, and U.S. withdrawals from landmark agreements like the Paris Climate Accord.