US PRESIDENT-ELECT Donald Trump said on Friday that the European Union may face tariffs if the bloc does not cut its growing deficit with the United States by making large oil and gas trades with the world's largest economy.
The EU is already buying the lion's share of US oil and gas exports, as per US government data, and no additional volumes are currently available unless the United States increases output or volumes are re-routed from Asia - another big consumer of US energy.
"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," Trump said in a post on Truth Social.
"Otherwise, it is TARIFFS all the way!!!," he added.
This story is from the December 21, 2024 edition of Financial Express Bengaluru.
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This story is from the December 21, 2024 edition of Financial Express Bengaluru.
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