[周刊王CTWANT] Although the U.S. trade deficit with the EU in goods has gradually narrowed in recent years, the U.S. has a trade surplus with the EU in services trade. For Trump, who advocates “America First”, a “trade deficit” is unfair. US President-elect Trump warned the EU on the 20th that it must commit to large-scale purchases of US oil and natural gas, otherwise it will respond with tariffs.
The EU has been hoping to avoid a trade war with the United States and has rushed to purchase more liquefied natural gas (LNG) or agricultural products after Trump was elected president to prevent Trump from targeting Brussels with tariffs. However, Trump is obviously still dissatisfied with the current situation and issued a warning to the EU.
Most refineries and natural gas companies in Europe are privately owned, and governments cannot determine where these companies source their purchases unless additional sanctions or tariffs are imposed. EU spokesman Olof Gill said on the 20th that the 27 EU countries are willing to negotiate common interests in energy with the United States, and pointed out that the United States also enjoys “a large services trade surplus with the EU.”
The United States has provoked trade wars among various countries, not only imposing tariffs, but also affecting Netcom products. According to foreign media reports, the U.S. Department of Commerce, Department of Defense, and Department of Justice have each launched investigations into China Netcom Company TP-Link and banned its products on the grounds of national security. If TP-Link Netcom products are really banned, the market vacancies created by the United States will be astonishing, and the subsequent effects on Taiwan Netcom manufacturers deserve attention.
Legal persons are optimistic about the future operating performance of China Netcom factories, and Netcom operators are optimistic about the transfer order effect. Local Netcom brands Youxun (2332) and Youjin (6142) hit the daily limit, while manufacturers Zhonglei (5388), Qiqi (6285), Shenzhen (3558), Jianhan (3062), and Zhengwen (4906) , Mingtai (3380) is also expected to benefit.
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US Tariffs threaten European Energy security and Global Trade
Tensions are rising between the US and EU as President-elect trump demands large-scale purchases of American oil and gas, threatening tariffs if they don’t comply. This latest ultimatum highlights the ongoing struggle over global trade, with the US pursuing an “America First” strategy that prioritizes its own interests over international cooperation. This article explores the potential impact of these trade tensions on European energy security and the global economy.
Tom Peterson, a Senior Editor at world-today-news.com, sits down with Sebastian Schmidt, an international trade expert, to discuss these pressing issues.
Tom Peterson: Sebastian, thanks for joining me today. President-elect Trump’s recent threat to impose tariffs on the EU unless they substantially increase their imports of American oil and gas has caused widespread concern.How likely is it that these tariffs will actually be implemented?
Sebastian Schmidt: It’s certainly a real possibility, Tom. President-elect Trump has made it clear that he’s willing to take a hard line on trade, and he views the current trade deficit between the US and the EU as unacceptable. While the EU has been trying to appease the US by increasing its purchases of liquefied natural gas, it’s uncertain whether this will be enough to satisfy the new governance.
Tom Peterson: What would be the implications of such a tariff war on the European energy market?
Sebastian Schmidt: It would be highly disruptive. Many European countries rely heavily on energy imports, and while they are diversifying their supply sources, the US remains a significant player. Tariffs would drive up energy prices, impacting both businesses and consumers.
Tom Peterson: The article mentions that the US has a trade surplus with the EU in services. How do you think this will factor into the current negotiations?
Sebastian Schmidt: this is a crucial point,Tom.the EU will likely argue that the US’s services trade surplus should be taken into account when evaluating the overall trade balance. They might try to use this leverage to negotiate concessions from the US.
Tom Peterson: beyond the immediate impact on the EU, what about the broader consequences for the global economy?
Sebastian Schmidt: A trade war between these two economic powerhouses would send shockwaves through the system, undermining global growth prospects and potentially triggering a wider trade war.
Tom Peterson: Lastly, do you see any potential for a peaceful resolution to this standoff?
Sebastian Schmidt: It’s certainly a complex situation, but dialog and diplomacy are essential. Both sides need to find a way to address their respective concerns without resorting to protectionist measures that could harm both economies.
Tom Peterson: Sebastian, thank you for your insightful analysis.
Sebastian Schmidt: Thank you for having me.
