Donald Trump Threatens EU Countries Over American Oil and Gas Purchases
U.S. President-elect Donald Trump has warned that if European Union countries do not increase their purchases of American oil and gas, the U.S. will impose trade tariffs on them. This statement was made by the White House.
Trump emphasized that the U.S. has a trade deficit of about $300 billion with the European Union, and this will be addressed either through tariffs or by requiring EU countries to purchase American oil.
On his first day in office, President Trump reversed the decision made by former President Joe Biden to halt the construction of a liquefied natural gas (LNG) export terminal. The Biden administration had ordered the halt following a study which indicated that LNG exports have a higher carbon footprint than coal exports.
Over the past few years, the United States has become the world’s largest exporter of liquefied natural gas and, since 2022, the largest supplier of LNG to Europe, especially after most Russian pipeline flows were suspended.