Finance

Trump says EU should make up 'tremendous deficit' with US by purchasing its oil and gas

Published by Global Banking & Finance Review

Posted on December 20, 2024

1 min read

· Last updated: January 27, 2026

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(Reuters) - U.S. President-elect Donald Trump said on Friday that the European Union must purchase U.S. oil and gas to make up for its "tremendous deficit" with the world's largest economy, or face

Trump Urges EU to Offset Trade Deficit with US Oil Purchases

(Reuters) - U.S. President-elect Donald Trump said on Friday that the European Union must purchase U.S. oil and gas to make up for its "tremendous deficit" with the world's largest economy, or face tariffs.

"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.

(Reporting by Rishabh Jaiswal in Bengaluru; Editing by Shri Navaratnam)

Key Takeaways

  • Trump suggests EU buy US oil and gas.
  • EU faces potential tariffs if deficit persists.
  • Trump's statement made on Truth Social.
  • EU's trade deficit with US highlighted.
  • Potential impact on EU-US trade relations.

Frequently Asked Questions

What is the main topic?
The article discusses Trump's suggestion for the EU to purchase US oil and gas to reduce its trade deficit.
What did Trump threaten if the EU doesn't comply?
Trump threatened to impose tariffs on the EU if they do not address the trade deficit.
Where was Trump's statement made?
Trump made his statement on the social media platform Truth Social.

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