President-elect of United States of America, Donald Trump has threatened to impose tariffs on the EU Friday unless the bloc increases imports of US fossil fuels.
“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!!!” he said on his proprietary social media network.
The tariff threats are the latest round of economic hard-balling from Trump after he also vowed to pursue import duties on Canada and Mexico, the top two US trading partners.
He has also pledged to impose a 10% duty on all global imports, as well as a 60% tariff on goods from China.
US trade with the EU totalled an estimated US$1.3 trillion in 2022, though it included a US$131.3 billion trade deficit that year, according to official US government figures.
The US remains the largest destination for EU exports, accounting for nearly one-fifth of the bloc’s total exports, and is the EU’s second-largest source of imported goods, according to the official European statistics agency.
