Bernd Lange, Chair of the European Parliament’s International Trade Committee, stated that the EU’s commitment to purchasing $250 billion worth of fuel annually from the United States is “unrealistic.”
According to Lange, European energy companies currently buy about $100 billion worth of fuel from the US annually, while the deal requires purchasing an additional $250 billion worth of energy carriers each year.
He said, “I don’t see the possibility of implementing this. I have doubts that the US can supply this amount of oil and liquefied natural gas. I’ve heard from some companies in the US that they won’t be able to provide this quantity.”
European Commission President Ursula von der Leyen and US President Donald Trump reached a trade deal on July 27. According to it, approximately 15% tariffs will be applied on all EU exports to the US. Additionally, the EU committed to buying liquefied natural gas, nuclear fuel, and weapons from the US. The deal does not include the removal of the US’s 50% tariffs on steel and aluminum but may reduce them after further negotiations. Specifically, under the arrangement, the EU committed to purchasing $750 billion worth of energy resources from Washington—$250 billion annually until the end of Trump’s term—along with an additional $600 billion investment in America.
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