10.51°C Vancouver 10.51°C Vancouver
Dec 20, 2024 6:11 PM - Connect Newsroom
US President-elect Donald Trump has threatened the European Union with tariffs unless it buys more oil and gas from the US to reduce its trade deficit with the country.
Trump issued this threat despite data from the US government showing that the European Union is already purchasing a significant share of American oil and gas exports.
In a post on his social media platform, Truth Social, Trump stated that he had told the European Union that they must address the large trade deficit by buying more US oil and gas. Otherwise, he warned, the alternative would be tariffs on all goods.
The US had a trade deficit of $161.9 billion with the European Union last year. Since taking office on January 20, Trump has already announced the imposition of heavy tariffs on Canada, Mexico, and China.
