Elected U.S. President Donald Trump warned the European Union to reduce its significant trade deficit with the United States by buying more oil and natural gas or face tariffs. In a statement on Truth Social, Trump indicated that the EU should replenish its $131.3 billion trade deficit from 2022. EU officials, including German Chancellor Olaf Scholz, have acknowledged Trump’s comments, emphasizing the importance of cooperation between the EU and the U.S. amidst ongoing discussions about transatlantic relations.