International Desk : Donald Trump has warned that tariffs will be imposed on the European Union if it does not buy more oil and gas from the United States. He is set to take office as US President for a second term next month. Earlier on Friday (December 20), the Republican leader gave such a stern warning to the EU in a post on his Truth social platform. Trump said, I have told the EU that they will have to buy oil and gas from us on a large scale to cover their huge trade deficit. Otherwise, there will be full tariffs! Trump, who is going to be sworn in as president on January 20, has already threatened to impose tough tariffs on Canada, Mexico and China. There is a fear of creating instability in the global economy. An EU spokesman said that they are ready for talks. He noted that the EU is already importing large amounts of oil and gas from the United States. However, unless the United States increases production or supplies from major buyers like Asia are limited, additional imports are unlikely. According to US government data, the European Union is now the largest buyer of US oil and gas. In 2022, the United States imported $533.3 billion worth of goods from the EU. In contrast, US exports to the EU were $358 billion. As a result, the US trade deficit with the EU that year was $202.5 billion. Analysts say Trump’s tariff threat has raised fears of a potential trade war in European countries. The tariffs could put further pressure on the EU economy.
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