Brussels’ zero-for-zero tariff offer not enough, U.S. president says, but indicates he’s open to a deal if the bloc commits to closing the trade deficit in goods.

Summary

Trump has rejected the EU’s “zero-for-zero” tariff offer on cars and industrial goods, demanding instead that the bloc commit to purchasing $350 billion of American energy to offset the trade deficit.

Following his implementation of 20% tariffs on EU goods last week, which triggered significant market downturns, Trump indicated openness to negotiations while emphasizing his “America First” stance.

He also criticized EU product standards as “non-monetary barriers” designed to block American exports.

  • kiagam@lemmy.worldEnglish
    20·
    11 days ago

    In 2023, the United States imported about 8.51 million barrels per day (b/d) of petroleum from 86 countries. In 2023, the United States exported about 10.15 million b/d of petroleum to 173 countries and 3 U.S. territories.

    The resulting total net petroleum imports (imports minus exports) were about -1.64 million b/d, which means that the United States was a net petroleum exporter of 1.64 million b/d in 2023.

    https://www.eia.gov/tools/faqs/faq.php?id=727&t=6

    The US hasn’t been a net importer of oil for a long time. The reason there is still oil imports in the US is due to different oil types and refinery configurations, not because total oil production doesn’t meet demand.