Trump to EU: Reduce the trade gap by buying oil and gas or imposing tariffs

US President-elect Donald Trump announced today, Friday, that the European Union must reduce the trade gap with the United States by buying American oil and gas or face the imposition of tariffs.

Trump wrote on his Truth Social platform, saying: “I told the European Union that they must make up their large trade deficit with the United States by buying oil and gas on a large scale, or tariffs will be the only solution.”

According to US data, the US trade deficit with the European Union amounted to $131.3 billion in 2022.

Analysts point to uncertainty about Trump’s ability to implement his threats of tariffs, and the extent of their impact on trade relations, according to “CNBC”.

For his part, Enrico Letta, former Prime Minister of Italy, said that the European Union needs to respond carefully to trade threats. He added that Trump confuses energy issues with tariffs, which could lead to unbalanced deals.