Trump Threatens Europe with Tariffs: Isolationist Policy Sparks Outrage
President-elect Trump threatened the European Union with tariffs unless it significantly increases purchases of U.S. oil and gas, citing a $209 billion trade deficit. This demand, while unclear on specifics, follows previous attempts to boost U.S. energy exports to Europe. However, the EU lacks a central authority to fulfill such large-scale commitments, and experts suggest this is likely posturing for future trade negotiations. Despite a substantial trade imbalance, the relationship is complex, with significant intra-company flows of goods obscuring the full picture. The feasibility of Trump’s demands is questionable given existing energy market dynamics and the inability to mandate purchases.
John Q. Hosedrinker