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![Global Connector Emblem NFT [Common]](/data/dbtechShop/itemIcons/0/3.jpg?1702360984)
(The Guardian) Besides bringing the federal government to the brink of a shutdown, Donald Trump has also lately been pressuring European countries to agree to buy more US-produced oil and gas, the Guardian’s Jill Ambrose reports: The US president-elect, Donald Trump, has warned the EU that it will face trade tariffs on its exports to the US unless its member states buy more American oil and gas.
Trump reignited fears of a looming trade war between the US and the EU in his first public statement regarding trade since he was elected president in November. “I told the European Union that 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!!!,” he said in a post on his social media site Truth Social.
The US is the world’s the largest producer of oil and has also emerged as the biggest supplier of liquefied natural gas (LNG) to the bloc since Russian supplies of pipeline gas to its European customers petered out after the full-scale invasion of Ukraine in early 2022.
This week, a US government study, commissioned by the Biden administration, found that increasing US exports of LNG could lead to a gas price spike of up to 30% for domestic gas customers.
The study, which analysed the economic, environmental and other costs of growing the US’s LNG capacity, also found serious consequences for the climate due to its high carbon emissions. The report is expected to complicate Trump’s pre-election promise to quickly approve more exports of LNG.
www.theguardian.com
Trump reignited fears of a looming trade war between the US and the EU in his first public statement regarding trade since he was elected president in November. “I told the European Union that 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!!!,” he said in a post on his social media site Truth Social.
The US is the world’s the largest producer of oil and has also emerged as the biggest supplier of liquefied natural gas (LNG) to the bloc since Russian supplies of pipeline gas to its European customers petered out after the full-scale invasion of Ukraine in early 2022.
This week, a US government study, commissioned by the Biden administration, found that increasing US exports of LNG could lead to a gas price spike of up to 30% for domestic gas customers.
The study, which analysed the economic, environmental and other costs of growing the US’s LNG capacity, also found serious consequences for the climate due to its high carbon emissions. The report is expected to complicate Trump’s pre-election promise to quickly approve more exports of LNG.
Donald Trump tells EU to buy more US oil and gas or face tariffs
President-elect reignites fears of a trade war as he says bloc must make up its ‘tremendous deficit’ with US
www.theguardian.com
