US President-elect Donald Trump delivers speeches at Mar-a-Lago in Palm Beach, Florida, US, December 16, 2024.
Brian Snyder | Reuters
US President-elect Donald Trump told the European Union on Friday that he must reduce the trade gap with the US through oil and gas purchases or face tariffs.
“I told the European Union that they must make up their huge deficit with the United States by purchasing our oil and gas on a large scale. Otherwise CARIFFS will apply,” Trump wrote on his Truth Social platform shortly after 1:00 p.m. EST.
According to Data from the USAthe country's trade deficit in goods and services with the European Union in 2022 amounted to USD 131.3 billion. The largest recipient of EU goods in 2023 was the United States, which was 19.7% of its exports.
Trump threatened to impose drastic tariffs on US trading partners including China, Mexico and Canada a hallmark part of his presidential campaign – he continued this narrative as he prepared to take office.
CNBC has reached out to the European Union for comment.
This breaking news will be updated soon.