Chicago – December 28, 2024
President-elect Donald Trump has warned of new tariffs on countries that don’t support his plan to increase U.S. oil and gas production.
In a Truth Social post, Trump said he told the European Union (EU) to start buying more U.S. oil and gas or face tariffs during his upcoming presidency.
“I told the European Union they must reduce their big trade deficit with the U.S. by purchasing our oil and gas on a large scale,” Trump wrote. “If not, it’s TARIFFS all the way!”
Trump has promised to restore U.S. energy dominance by boosting oil and gas production. His plans include expanding fracking and lifting restrictions on new liquefied natural gas (LNG) export permits set by President Joe Biden.
Trump also issued similar warnings to Mexico, Canada, and China. He threatened to impose 25% tariffs on Mexican and Canadian exports if those countries don’t take stronger action to stop illegal immigration and drug trafficking into the U.S.
