Trump's Tack on Trade: Tariffs or Exports

President Donald Trump aims to rectify the trade deficit with the EU through potential tariffs or increased oil and gas exports. He criticized the EU's 20% value-added tax, likening it to a tariff, and stressed the EU's reluctance to import U.S. goods, including cars and farm products.

President Donald Trump announced on Monday his determination to address the United States' trade deficit with the European Union. He suggested either implementing tariffs or boosting oil and gas exports as potential solutions.

In a discussion with reporters, Trump pointed out that the European Union imposes a 20% value-added tax, which he compared to a tariff. He expressed frustration over this measure.

Trump further criticized the EU for not importing American vehicles and farm products, stating, "They're very tough. They don't take our cars. They don't take our farm product, they don't take almost anything. We'll straighten that with either tariffs or they have to buy our oil and gas."

(With inputs from agencies.)