The newly elected US president stirs concerns about a potential transatlantic trade war, just a month before taking office in the White House.
Today, European Union officials downplayed the latest tariff threats issued by Donald Trump, the president-elect, who warned of severe repercussions unless the EU increases its imports of American oil and gas.
On his Truth Social platform, Trump stated: “I informed the European Union that they need to rectify their considerable trade deficit with the United States by significantly purchasing our oil and gas. If they do not comply, it’s TARIFFS all the way!!!”
During a press briefing in Brussels, Olof Gill, the trade spokesperson for the European Commission, addressed Trump’s “frequent comments” regarding EU-US trade. He remarked, “The EU maintains a substantial goods trade surplus with the US, while the US has a significant services trade surplus with the EU; these factors are not always captured in the posts you reference.”
Gill emphasized that the EU is open to discussions with President-elect Trump about strengthening their already robust relationship, particularly in the energy sector. He stated, “We have expressed, from high-level officials including President von der Leyen, our readiness to discuss how we can enhance our collaboration, especially regarding common interests in energy.”
In recent years, Europe has substantially increased its imports of liquefied natural gas (LNG) from the US as part of its strategy to reduce reliance on Russian energy supplies, particularly amid the ongoing conflict in Ukraine.
According to EU statistics, the US emerged as the leading supplier of both petroleum and non-pipeline gas in the third quarter of this year, accounting for over 15% of the EU’s oil imports and nearly 38% of its LNG imports.
When evaluating total gas imports, both LNG and pipeline sources combined, US exports met approximately 20% of the EU’s gas demand last year, following Norway, which supplied 30% through multiple pipelines.
Officials from the EU did not confirm whether Trump’s ultimatum had been officially communicated to Brussels, as suggested in his social media post. Stefan de Keersmaecker, the Commission’s deputy chief spokesperson, stated, “We have acknowledged the tweets that prompted your inquiries” and reiterated the importance of further solidifying an already strong relationship.
Photo credit & article inspired by: Euronews
