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G7: Germany Urges Europe Not To Depend on U.S. For Oil
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U.S. President Donald Trump had threatened Europe with additional tariffs if they failed to buy more oil and gas. The threat did not sit lightly with G7 member Germany as it urged the European Union (EU) not to be overly dependent on the U.S. for oil citing that Trump is outstretching his hand.
Also Read: Apple Stock: AAPL Gets a Downgrade From Jefferies
Europe needs to “meet the Trump administration with an outstretched hand, but not have our hand cut off,” said Germany’s Economic Minister Robert Habeck. The cold response comes after Trump threatened tariffs on Europe if they do not step up their purchase of U.S. gas and oil.
“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,” wrote Trump on Truth social media. He added boldly, “Otherwise, it is TARIFFS all the way!!!” Europe, Germany, and the other G7 countries have been allies to the U.S. for decades and Trump’s tariff threat has rubbed the wrong way.
Also Read: 14% of Americans Invested in TRUMP Coin, Survey Shows
G7: Trump Wants Europe & Germany to Buy More U.S. Oil
While Trump wants Europe to procure more U.S. LNG gas and oil, Germany is cautioning about the dangers. Habeck also criticized Trump for his withdrawal from the Paris Agreement. “That is the beginning of historic failure,” he said while advocating for lesser dependency on U.S. oil in Europe.
Also Read: Netflix Stock (NFLX) Rises Following Big Q4 2024 Earnings
However, Trump doubled his rhetoric by asking Europe to buy U.S. oil and gas. “The one thing they can do quickly is buy our oil and gas,” said Trump to Bloomberg. “We will straighten that out with tariffs, or they have to buy our oil and gas,” said the President.
Europe is now in a sticky situation as support from the U.S. is based on business deals and trade. Stepping out of the line will bring in tariffs and create an imbalance in the imports and exports sector.
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G7: Germany Urges Europe Not To Depend on U.S. For Oil
Share:
U.S. President Donald Trump had threatened Europe with additional tariffs if they failed to buy more oil and gas. The threat did not sit lightly with G7 member Germany as it urged the European Union (EU) not to be overly dependent on the U.S. for oil citing that Trump is outstretching his hand.
Also Read: Apple Stock: AAPL Gets a Downgrade From Jefferies
Europe needs to “meet the Trump administration with an outstretched hand, but not have our hand cut off,” said Germany’s Economic Minister Robert Habeck. The cold response comes after Trump threatened tariffs on Europe if they do not step up their purchase of U.S. gas and oil.
“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,” wrote Trump on Truth social media. He added boldly, “Otherwise, it is TARIFFS all the way!!!” Europe, Germany, and the other G7 countries have been allies to the U.S. for decades and Trump’s tariff threat has rubbed the wrong way.
Also Read: 14% of Americans Invested in TRUMP Coin, Survey Shows
G7: Trump Wants Europe & Germany to Buy More U.S. Oil
While Trump wants Europe to procure more U.S. LNG gas and oil, Germany is cautioning about the dangers. Habeck also criticized Trump for his withdrawal from the Paris Agreement. “That is the beginning of historic failure,” he said while advocating for lesser dependency on U.S. oil in Europe.
Also Read: Netflix Stock (NFLX) Rises Following Big Q4 2024 Earnings
However, Trump doubled his rhetoric by asking Europe to buy U.S. oil and gas. “The one thing they can do quickly is buy our oil and gas,” said Trump to Bloomberg. “We will straighten that out with tariffs, or they have to buy our oil and gas,” said the President.
Europe is now in a sticky situation as support from the U.S. is based on business deals and trade. Stepping out of the line will bring in tariffs and create an imbalance in the imports and exports sector.
In This News
Coins
Share:
In This News
Coins
Share:
Read More
Europe bulletin: UK confidence wobbles, Germany’s nuclear idea, EU’s strong growth