Donald Trump Threatens Tariffs If European Union Does Not Buy More Oil, Gas

U.S. President-elect Donald TrumpDonald TrumpDonald TrumpTrumpTrump on Friday (December 20, 2024) threatened the European Union with tariffs if the bloc does not reduce its "tremendous" trade gap with Washington through oil and gas purchases.

"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," Mr. Trump said in a post on his Truth Social platform in the early hours of Friday.

According to U.S. figures, goods imports from the EU were $553.3 billion in 2022, while its exports to the bloc were $350.8 billion.