Market
What will be the impact of US-EU trade tensions on global oil prices by June 30, 2025?
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Reports from financial news outlets like Bloomberg or Reuters
Story
President-elect Trump Tells EU: Buy US Oil and Gas or 'Tariffs All the Way'
Dec 20, 2024, 09:11 AM
US President-elect Donald Trump has threatened the European Union with tariffs if its member countries do not purchase more American oil and gas to reduce the trade deficit between the two economies. In a statement posted on Truth Social on December 20, 2024, Trump said he told the EU 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." The US is the world's largest oil producer and leading exporter of liquefied natural gas (LNG).
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