EU Faces Tariff Threats Amid U.S. Energy Export Push

President-elect Donald Trump threatens tariffs if the EU doesn't increase U.S. oil and gas imports. Though the U.S. exports much to Europe, Trump demands more, aiming to reduce the trade deficit. As Europe phases out Russian energy, this demand may align with the EU's diversification goals.

President-elect Donald Trump has issued a warning to the European Union, demanding an increase in U.S. oil and gas imports or face tariffs on its exports, including cars and machinery. This stance is an attempt to address the significant trade deficit the U.S. has with the EU.

The EU already accounts for a major share of American oil and gas exports. Despite this, Trump wants the bloc to buy more to resolve trade imbalance issues. Notably, Trump plans to boost American energy production, further encouraging the EU's shift from Russian sources.

European officials appear open to dialogue on strengthening energy relations, yet face constraints due to market dynamics. Energy experts caution the EU over investing in potentially temporary demands due to the renewable energy transition.

(With inputs from agencies.)