A US official has announced an extension to Trump’s April 1st tariff deal deadline to August 7th. So far, the US’ biggest trade deal has been signed with the European Union. It includes a massive commitment for the EU to buy US energy, though the details of how the EU will fulfill this promise remains unclear. Under the agreement reached by Trump and European Union chief Ursula von der Leyen – the EU will buy 700 billion euros worth of energy by the end of 2028 – or around 233 Billion euros a year for the next three years. Placing that number in context, the amount seems difficult to achieve. In 2024 – the EU imported around 77 billion euros worth of energy from the US – meaning it would have to more than triple its annual imports from the US to live up to its part of the deal.
Chapter Breakdown
0:00 EU makes massive commitment to invest in US energy
1:03 Ben Lefebvre, Politico energy reporter, and Anne-Sophie Corbeau, energy industry analyst at the Center for Energy Policy at Columbia University, on whether the EU’s promises to invest in US energy sources are even feasible.
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