President-elect Donald Trump threatened in a Truth Social post Friday to impose tariffs on the European Union (EU) unless the bloc increases the purchases of U.S. oil and gas.
“I told the European Union that 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!!!” Trump posted around 1 a.m. Friday morning.
The EU did not directly address the threat, but a European Commission spokesperson noted the bloc was ready to discuss its trade relationship with the United States.
“The EU & US have deeply integrated economies, with overall balanced trade/investment. We’re ready to discuss with President-elect Donald Trump how we can further strengthen an already strong relationship, including by discussing our common energy sector interests,” spokesperson Olaf Gill tweeted Friday.
EU Commissioner Ursula von der Leyen indicated that following Trump’s return to the Oval Office, the EU may start buying more oil and liquified natural gas (LNG) from the U.S. rather than Russia.
“We still get a lot of LNG from Russia and why not replace it [with] American LNG, which is cheaper for us and brings down our energy prices,” von der Leyen told reporters in November, according to Reuters.
The threats to Europe are the latest in what appears to be the president-elect’s diplomatic strategy. Trump previously levied tariffs on European steel and aluminum imports in 2018.
Trump warned BRICS — the economic alliance composed of Brazil, Russia, India, China, South Africa and others — in November that he would punish all member nations with 100% tariffs if they tried to develop a currency to rival the U.S. dollar.
The president-elect also threatened American farming equipment manufacturer John Deere in September, warning that if they moved ahead with plans to relocate their manufacturing to Mexico, he would impose 200% tariffs on their products.
Most recently, Trump brandished looming tariffs against Canada and Mexico, telling both countries he would tack 25% tariffs onto all imports if they did not do more to curb rampant illegal immigration. (RELATED: ‘Why Not?’: Trump Tells Rogan He’ll Use Tariffs To Eliminate Income Tax, Make America ‘Rich’)
Incoming border czar Tom Homan told Tucker Carlson on Wednesday that illegal immigration in some areas of the northern border is up 600-800%.
The largest potential recipient of Trump tariffs is likely to be China, a country which was already on the receiving end of tariffs during Trump’s first term, sparking a trade war between the two nations.
Trump campaigned on a promise to impose tariffs on all imports and floated the idea of a 60% tariff on all Chinese imports.Your email address
<span class="dsq-postid" data-dsqidentifier="33536 https://www.themainewire.com/?p=33536">9 Comments
You should change your headline: President Trump did not “threaten” to raise tariffs to balance our trade imbalance with Europe, he “Promised” to raise tariffs to balance our trade imbalance if Europe does not buy more of our oil and gas to balance the long standing trade imbalance.
Gee, I was under the opinion that Trump wanted us to keep our oil so our cost would be lower. I Guess Trump wants the oil companies to make money and to heck with what you and I pay at the pump or to heat our homes. Broken promises…
Where is the Head Line —” Trump to Continue Ukrainian Money Laundering “… Yes Donkey Donald has said he will continue sending U.S. Tax Dollars to ” The Pug on the Baltic “….. New Boss same as the Old Boss….
Trump’s hammer/nails approach to solve everything seems to be tariffs. It’s the main reason I hesitated in voting for him. He’s not a free market person. There are consequences to tariffs for the consumer: Higher prices, for one. Well, we’ve got a way to go in getting on the right economic path here in the USA. Do we have to reach desperation as they did in Argentina before we decide to let the market work? At least DOGE seems to be going in the right direction. I’m waiting for the eventual discord between Musk/Ramaswamy and Trump over the economy. Trump doesn’t care about deficits. I think DOGE does…and I doubt that tariffs are high on any Austrian Economist’s list. Musk and Ramaswamy met with Austrian Economist/Libertarian Javier Milei. Trump did not. Too busy? Or not interested?
Gee, I got three thumbs down for America first on oil. What’s going on? Do you want us to pay higher prices at the pump and to fill up our oil tanks? Really!
Master of the bully pulpet
We saved their ass from Hittler and were are saving their ass from the Commies. But we have the swamp here working against us.
Ukraine is full of rare earths which we need for our electric school bus.
Love all you TRUMPANZEES ! Worship at the alter of The Pot Bellied Chester Cheetos… He is gonna sell you out just like he did Hong Kong , Just like “2 weeks to slow the spread ” , Just like the “Clot Shot ” is good for you …Sure Capt. “Comb Over ” is better than “Hair Sniffing Biden ” but he is not the Savior …..Stay prepared , Keep your head on a swivel and stay left of Bang.