EU Expresses Willingness for Trade Discussions with Trump Amid Tariff Concerns
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Brussels, Dec 21 (NationPress) The European Union (EU) has indicated its readiness to engage in discussions regarding trade matters, including the energy sector, with US President-elect Donald Trump, according to a spokesperson from the European Commission.
Olof Gill, the spokesperson, mentioned during a press conference, "We are prepared to explore ways to enhance our already robust relationship with President-elect Trump, particularly concerning our shared interests in the energy domain."
These comments followed Trump's post on the social media platform Truth Social, where he cautioned the EU about possible tariffs if the bloc does not boost its imports of US oil and gas.
Trump stated, "I informed the European Union that they need to address their significant deficit with the United States by substantially increasing their purchases of our oil and gas. If not, it will be TARIFFS all the way!!!"
In response, the EU seemed to counter Trump's assertion, with the spokesperson highlighting that even though the US has a goods trade deficit with the EU, it maintains a surplus in services, as reported by Xinhua news agency.
Data from Eurostat revealed that the US faced a goods trade deficit of €155.8 billion (approximately $162.51 billion) with the EU last year, while enjoying a services surplus of €104 billion.
Former Italian Prime Minister Enrico Letta condemned Trump's threats during an interview with CNBC, urging the EU to brace for possible retaliation. He described Trump's approach as "transactional" and "asymmetric," accusing him of mixing energy issues with tariffs.
Letta remarked, "Given that the most asymmetric aspect is the financial relationship, we should consider that responding on the financial front could be a viable option."
Trump's statements caused turbulence in European stock markets, resulting in the pan-European STOXX 600 index closing down by 0.88 percent on Friday, having dipped as much as 2 percent earlier in the session. (1 euro = 1.04 USD)
