Trump: "EU Can Avoid US Energy Sanctions Tariffs"

Trump Attempts Negotiation Through Tariffs
Pressures EU and Asia to Buy More American Energy

U.S. President Donald Trump reiterated his stance that European Union (EU) countries must purchase more American oil and liquefied natural gas (LNG) to avoid tariffs.

According to Bloomberg News, on the 20th (local time) at a signing ceremony for an executive order held at the White House, President Trump said, "One thing they (the EU) can do quickly is buy American oil and gas. We will correct this through tariffs, and if not, they have to buy our oil and gas." He added, "They import almost nothing from the U.S., such as American cars or agricultural products. We have about a $300 billion deficit with the EU."

Bloomberg also reported that not only the EU but Asian countries such as South Korea and Taiwan are considering purchasing more American energy to avoid President Trump's tariffs.

The U.S. is the world's largest crude oil producer and LNG exporter. Ursula von der Leyen, President of the European Commission, claimed last year that American energy could replace Russian LNG.

However, Bloomberg pointed out that the energy market is unlikely to be immediately affected. Since LNG is sold through long-term contracts, importers already bound by previous agreements find it difficult to quickly increase purchases from the U.S.

President Trump declared a national energy emergency and lifted most bans on oil and gas drilling off the U.S. coast to promote American energy development. He also lifted the freeze on approvals for new LNG export plants imposed by the Joe Biden administration.

While signing several executive orders that day, President Trump said, "We have more than anyone else," and added, "We will make big money with energy."