U.S. President-elect Donald Trump indicated that the European Union could face tariffs if it does not address its trade deficit with the U.S. through substantial energy deals.
With the U.S. supplying a significant portion of the EU's liquefied natural gas and oil imports, Europe has increased its energy purchases in light of sanctions against Russia.
Experts warn that while current demand for U.S. oil and gas in Europe is strong due to geopolitical shifts, the long-term outlook may be uncertain as the region pivots towards renewable energy.
The U.S. had a substantial goods trade deficit with the EU in 2023, a discrepancy stemming from dominant European car exports and minimal American vehicle shipments to Europe.
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