Trump threatens with tariffs to the EU

The newly elected president, Donald Trump, has called on the European Union to address their deficit with the United States by purchasing oil and gas or face tariffs. With Europe reducing its reliance on Russian gas, the US has become the EU’s largest gas and oil supplier, leading to a trade deficit in goods and services. If Trump follows through with his threats, Europe may have to choose between higher energy prices, delaying climate goals, or facing price hikes on imported goods and services.

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