U.S. President Donald Trump is refusing to back down on new tariffs targeting EU imports, demanding Europe buy more American energy to balance trade. The move has sparked fears of a global economic showdown, with both sides digging in their heels. 💼🌍
‘Zero-for-Zero’? Not Enough, Says Trump
Trump dismissed the EU’s proposal to eliminate tariffs on industrial goods, declaring, "No, it’s not" sufficient during a press briefing. Instead, he pushed for the EU to boost imports of U.S. oil and gas, threatening auto and machinery tariffs if they refuse. 🚗⚡
Trade Deficit Dominates Debate
The president pointed to a $208.7 billion U.S. trade deficit with the EU in 2023 as proof of imbalance. "They take almost nothing, and we take everything," he claimed, doubling down on his "America First" stance despite appeals from allies like Israel’s Prime Minister Netanyahu. 📉🇪🇺
EU Prepares to Fight Back
The bloc has already drafted €26 billion ($28 billion) in counter-tariffs, matching U.S. measures. An EU spokesperson noted they’re committed to reducing reliance on Russian energy but currently get 17% of oil and 47% of LNG from the U.S.—a point Trump aims to leverage. ⚖️💣
Why It Matters Now
With global markets bracing for price hikes and trade wars, this showdown could redefine international commerce. The EU insists its tariffs on U.S. goods average just 1%, while U.S. tariffs cost European exporters €7 billion last year. As Trump vows the tariffs are "permanent," the stakes for businesses and consumers keep rising. 🌐💸
