Trump threatens EU with tariffs unless it makes ‘large scale’ purchase of US gas and oil
The IndependentSign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Trump has promised to impose more tariffs to lower the U.S.’s trade deficit and make other countries more reliant on U.S. production The E.U. and U.S. have “deeply integrated economies, with overall balanced trade and investment.” But that it is “ready to discuss” how it can strengthen ties with the U.S. “including by discussing our common interest in the energy sector.” The U.S. is the world’s largest oil producer, accounting for 22 percent of global supply and Europe is the largest importer of American gas. was already expected to purchase more U.S. liquefied natural gas, in part to appease Trump – a well-known fan of tariffs – and in part to replace its reliance on Russian energy. Though the threat of tariffs is meant to bolster the U.S.’s global standing and reduce trade deficit, when Trump imposed tariffs on Europe for aluminum and steel, they issued retaliatory tariffs – specifically targeting products like Harley-Davidson motorcycles and Jack Daniel’s whiskey – something that increased the trade deficit.