Brief by Shorts91 Newsdesk / 01:51pm on 20 Dec 2024,Friday International
US President-elect Donald Trump has urged the EU to buy more American oil and gas to reduce its trade deficit with the US. He warned of imposing tariffs on EU exports if demands are unmet. Trump’s statement on his social media platform reignited fears of a trade war. The EU relies heavily on US liquefied natural gas (LNG) after reducing Russian energy imports. However, a recent US study warns that increasing LNG exports could raise domestic gas prices by up to 30% and harm the environment. EU leaders, including Ursula von der Leyen, see US gas as a cheaper alternative.
