President-elect Donald Trump is threatening tariffs when he takes office. His goal is to boost U.S. oil and gas production.
Trump posted on Truth Social, saying he told the European Union to import more U.S. oil and gas. If they don't, he warned, there will be tariffs. "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," Trump wrote. "Otherwise, it is TARIFFS all the way!!!"
During his campaign, Trump promised to restore U.S. energy dominance. He plans to increase oil and natural gas production, expand fracking, and lift Biden's pause on LNG export permits.
Trump's tariff threat isn't just about the EU. He's warned China, Mexico, and Canada too. He says he’ll impose 25% tariffs on Canadian and Mexican exports unless they tackle illegal immigration and drug trafficking.
After Trump’s tariff proposal, Ontario Premier Doug Ford threatened to stop energy and mineral exports to the U.S. if the tariff is imposed. But Trump wasn’t concerned, saying, "That's okay if he does that."
Trump has also had "very productive" talks with Canadian Prime Minister Justin Trudeau. Trudeau visited Mar-a-Lago to meet Trump, where he reportedly said the tariff would devastate Canada’s economy.
In response, Trump suggested Canada could become the 51st state. Sources say Trudeau and others laughed nervously at the suggestion.
It seems Trump is determined to push for changes. His tariff threats are part of his broader strategy to secure U.S. interests and push for stronger borders.