Trade Imbalance and Ultimatum
President-elect has threatened the with tariffs unless it addresses the trade deficit by purchasing more American oil and gas, highlighting a $209 billion trade imbalance in 2023.
Trump's demands come as he prepares to return to office, reiterating similar threats made during his first presidency and aiming to reduce the U.S. trade deficit with the EU.
Responses and Context
The EU, not having a singular entity to make purchase commitments, expressed readiness to discuss strengthening relations and common interests in the energy sector, despite the lack of clarity on next steps.
Experts and officials highlight the complexity of the EU-U.S. trade relationship, including the significant increase in U.S. LNG exports to the EU since 2021, and the challenges in forcing specific trade actions.