U.S. President Donald Trump has made it clear that the European Union must commit to purchasing $350 billion worth of American energy if it hopes to see relief from his extensive tariffs. This demand came late Monday in response to European Commission President Ursula von der Leyen’s proposal to eliminate tariffs on U.S. cars and industrial goods in exchange for similar treatment from the U.S. However, Trump rejected the offer, stating it was insufficient.

During a White House press conference, Trump emphasized the EU’s $350 billion trade deficit with the U.S., suggesting that purchasing American energy could rapidly eliminate this gap. "They have to buy and commit to buy a like amount of energy," Trump stated. He argued that this step could quickly address the trade imbalance, wiping out the deficit in just one week. This response followed von der Leyen’s proposal to eliminate tariffs on cars and industrial goods, which came after Trump imposed new tariffs on the EU and other trade partners, sparking significant market turmoil worldwide.

Trump also reiterated the importance of trade surpluses, which he sees as akin to profits in a business. He stressed the need for the U.S. to secure favorable terms with the EU, emphasizing "America first" in any negotiations. Though he expressed dissatisfaction with the EU’s treatment of the U.S., Trump suggested a potential deal could be reached if the EU agreed to purchase more U.S. energy.

The notion of the EU buying more U.S. liquefied natural gas (LNG) as a way to resolve trade tensions is not new. After Trump’s re-election, von der Leyen had hinted at opening discussions on this issue, but no clear agreement emerged.

When asked about the long-term nature of his tariffs, Trump noted that they could either be permanent or used as a negotiating tool, depending on the circumstances. He further stated that his goal was to strike a fair deal for the U.S., which would not necessarily be advantageous to other countries. Trump also mentioned his desire for the EU to reduce non-monetary barriers, such as stringent safety standards that he believes hinder U.S. products from entering the European market. He characterized these as “non-monetary tariffs” designed to prevent American goods from competing effectively.

Reflecting on historical U.S. tariff policy, Trump noted that the country was strongest between 1870 and 1913, when tariffs were high and there was no income tax. He attributed the country’s economic strength during that period to the protection provided by tariffs.