The European Commission says it is ready to discuss with Trump how to strengthen what it described as an already strong relationship, including in the energy sector
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“The EU is committed to phasing out energy imports from Russia and diversifying our sources of supply,” a spokesperson said. German and Italian car exports currently face a 2.5% US tariff, which could quadruple if Trump makes good on his threats. The US is already producing and exporting record volumes of oil and gas and increasing those would require significant investment, especially for LNG export terminals.
US crude exports to Europe stand at around 2 million bpd, representing over half of US total exports, with the rest going to Asia. The United States is also the world’s biggest gas producer and consumer with output of over 103 billion cubic feet per day.
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