President-elect Donald Trump is threatening tariffs against a bloc of countries when he assumes office as part of his anticipated effort to reinforce oil and gas production in the U.S.
Trump, in a Truth Social post, said that he told the European Union that if it doesn’t begin to import more U.S. oil and gas, it will be faced with tariffs under his upcoming presidency.
“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!!!”
Throughout his presidential campaign, Trump vowed to restore energy dominance by bolstering the production of American-made oil and natural gas. Specifically, Trump has revealed that he plans to expand fracking and lift President Joe Biden’s pause on new liquefied natural gas (LNG) export permits.
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Trump’s latest tariff threat comes amid a number of warnings against several countries, including China, Mexico, and Canada, if they don’t act to secure the border and stop drug trafficking.
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Trump said he would impose 25% tariffs on all Canadian and Mexican exports, unless the countries work to stop the flow of illegal immigration and illicit drugs coming into the U.S.
After Trump’s proposed tariff against Canada, Ontario Premier Doug Ford threatened to cut off energy and critical mineral exports to the U.S. if the incoming president implements such a tariff on all Canadian products. However, Trump was unfazed by the threat, saying, “That’s okay if he does that.”
Trump has reportedly engaged in “very productive” conversations with Canadian Prime Minister Justin Trudeau since threatening a new tax.
The PM traveled to Mar-a-Lago to meet with the incoming president, where Trudeau reportedly told Trump he couldn’t levy the tariff, because it would kill the Canadian economy completely, Fox News previously reported.
Trump then suggested to Trudeau that Canada become the 51st state, which, according to sources, reportedly caused the prime minister and others to laugh nervously.
Fox News’ Bret Baier and Greg Wehner contributed to this report.
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