U.S. President Donald Trump confirmed that planned tariffs on European Union imports will go ahead as scheduled. Speaking from the Oval Office, he demanded that the EU increase its purchase of American oil and gas, warning that failure to do so could trigger additional tariffs on exports such as cars and machinery.
During his address, Trump rejected the EU’s proposal for a "zero-for-zero" tariff exchange. He pointed to a $208.7 billion goods trade deficit with the EU in 2023 as evidence of an imbalanced trade relationship. Trump also emphasized that European markets have largely overlooked key American exports, remarking that they rarely take U.S. cars and farm products while flooding in other goods.
Following discussions with Israeli Prime Minister Benjamin Netanyahu—who urged a reduction in the 17 percent tariffs applied to Israel—Trump maintained that these tariff measures are permanent, underscoring his commitment to correcting the trade imbalance.
The EU, meanwhile, has reiterated its commitment to diversify its energy sources as it phases out energy imports from Russia. With the bloc already sourcing 47 percent of its liquefied natural gas and 17 percent of its oil from the United States, the demand for increased American energy purchases comes at a critical juncture.
As global trade tensions escalate, European authorities have announced plans for retaliatory measures valued at around 26 billion euros, nearly matching the scale of U.S. tariffs. This evolving scenario highlights the complex interplay of international trade policies and the challenges of maintaining balanced economic relations in today’s interconnected world.
Reference(s):
cgtn.com
