'Buy oil and gas from US, or else...': Donald Trump threatens Europe

Donald Trump has threatened tariffs on the European Union if it does not buy oil and gas from the United States, just weeks before his inauguration as the next US President.

Donald Trump, preparing for his return to the White House, has issued a stern warning to the European Union. Weeks before his inauguration, he threatened the EU with severe tariffs unless it addresses the significant trade deficit with the United States. The former president demanded that Europe purchase most of its oil and gas from the US, or face what he described as "TARIFFS all the way."

On his Truth Social platform, Trump declared: "I told the European Union 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!!!"

This bold declaration echoes his previous term, where he accused Europe of benefiting from the US at its expense. Trump had also threatened to cut US funding to NATO, urging Europe to contribute its fair share.

Trade Deficit Figures

The United States' trade deficit with the European Union stands at $202.5 billion, according to 2022 US government data. American imports from the EU reached $553.3 billion, while exports to the region amounted to $350.8 billion. Trump is determined to address this imbalance quickly, firmly believing that tariffs are the solution to what he calls "bad deals" made by previous US administrations.

A Controversial Approach

Trump's aggressive stance on tariffs is a central part of his strategy to "make America great again." Speaking to reporters at his Mar-a-Lago residence, Trump remarked, "Our country right now loses to everybody," blaming past trade agreements. He insists that tariffs will restore America’s economic strength, saying, "Tariffs will make our country rich again."

As part of his first-day actions in office, Trump is expected to sign executive orders imposing sweeping tariffs on goods imports and overhauling immigration laws.

Global Trade Shift

Trump's rhetoric extends beyond Europe, targeting other major trading partners, including China, Mexico, and Canada. He has already proposed a 25% import tariff on goods from Canada and Mexico, and a 10% tariff on China.

In response, Europe is diversifying its trade options. The European Union recently signed a significant free trade agreement with Brazil, Argentina, Uruguay, and Paraguay, a pact that could benefit nearly 700 million people across Europe and South America.

European Commission President Ursula von der Leyen took a subtle jab at Trump, stating, "Strong winds are blowing in the opposite direction... towards isolation and fragmentation." She praised the new trade agreement as a "trade bridge" between Europe and South America, contrasting it with the isolationist rhetoric of the US.

The Big Question: Will Tariffs Help or Harm?

As the US edges toward a new era under Trump's leadership, the question remains: Will tariffs truly "make America great again," or will the country risk losing to others in the global economic race? Only time will tell.