San Diego, CA
‘Tariffs all the way': Trump says European Union must buy U.S. oil and gas in trade ultimatum
- U.S. President-elect Donald Trump said he told the European Union it must reduce its trade gap with the U.S. through oil and gas purchases or face tariffs.
- Enrico Letta, former prime minister of Italy, told CNBC’s “Squawk Box Europe” on Friday that the EU needed to be prepared to retaliate to Trump’s threat.
- Donald Trump made threats of sweeping tariffs on U.S. trading partners a key part of his presidential campaign.
U.S. President-elect Donald Trump on Friday said he told the European Union it must reduce its trade gap with the U.S. through oil and gas purchases or face tariffs.
“I told the European Union that they must make up their tremendous deficit with the United States by the large scale purchase of our oil and gas. Otherwise, it is TARIFFS all the way,” Trump posted on his Truth Social platform shortly after 1 a.m. ET.
According to U.S. figures, the country’s goods and services trade deficit with the European Union was $131.3 billion in 2022.
A senior EU diplomat, who did not want to be named due to the sensitivity of the topic, told CNBC’s Silvia Amaro that they were not surprised by Trump’s comment Friday and that energy was a “good option” for buying more U.S. goods.
Another EU official, who also did not want to be named for the same reason, told Amaro that German Chancellor Olaf Scholz spoke with Trump last night.
The comment comes after EU heads of state held their final meeting of the year on Thursday, during which the topic of Europe-U.S. relations was discussed.
“The message is clear: the European Union is committed to continue working with the United States, pragmatically, to strengthen transatlantic ties,” European Council President António Costa said following the meeting.
Trump has made threats of sweeping tariffs on U.S. trading partners including China, Mexico and Canada a signature part of his presidential campaign — and he’s continued the narrative as he prepares to enter office, despite economists warning of risks to domestic inflation.
Analysts say there is high uncertainty over the extent of the tariffs Trump will be willing — or able — to follow through with, and how much of his rhetoric is a starting point for striking deals.
Enrico Letta, former prime minister of Italy and dean of the IE School of Politics, Economics and Global Affairs, told CNBC’s “Squawk Box Europe” on Friday that the EU needed to be prepared to retaliate to Trump’s threat.
“I think it is a transactional approach, we have to respond to this transactional approach. [Trump] mixes together energy and tariffs on goods, manufacturing and so on. I think it’s incorrect because the two topics are completely different,” Letta said.
“If the deal is proposed by Trump — such an asymmetric deal on topics that are not linked one to the other — I think we have to do the same.”
“Considering that the most asymmetric part is the relationship on the financial side, we have to start considering that maybe replying on the financial side could be a solution,” he said.
The U.S. is the biggest recipient of EU goods, accounting for nearly a fifth of the bloc’s exports. The U.S.’s biggest trade deficit with the EU is in machinery and vehicles, with the gap totalling 102 billion euros ($106 billion) in 2023. In energy, Washington had a trade surplus with the European bloc worth 70 billion euros.
The U.S. is the world’s top oil producer and accounted for 22% of global supply in 2023, according to the U.S. Energy Information Administration, which predicts record crude oil production in 2024. Producers anticipate even higher supply levels in a deregulatory environment under Trump.
The EU has already indicated it is expecting to purchase more U.S. energy in the coming years. Last month, European Commission President Ursula von der Leyen told reporters that replacing Russian liquefied natural gas (LNG) imports with U.S. volumes would be cheaper, and that the EU would look to engage and negotiate on the matter when Trump takes office in 2025.
Ahead of the U.S. election in November, EU officials spent months preparing for a lurch toward U.S. protectionism and for a more confrontational relationship with the White House, in the event of a Trump victory. The EU has also made moves toward strengthening its relationship with the U.K., which left the bloc in 2020, as a guard against potential clashes over trade and defense.
European stock markets were sharply lower on Friday morning, while the euro strengthened 0.2% against the U.S. dollar to $1.038.
CNBC has contacted the European Commission for comment on Trump’s remarks.
San Diego, CA
Opinion: Proposed federal rule would hammer beauty industry
Beauty and wellness are a staple of American culture. Thousands of citizens visit our spas and salons throughout the United States for critical, everyday grooming services they rely on. However, if the U.S. Department of Education has its way, Americans could soon have trouble finding qualified professionals to perform these traditional self-care rituals.
The department is proposing a new rule that would end access to many professional beauty programs — an important and growing trade. The department also is mistakenly labeling professional beauty programs as “low-value programs,” even though these programs offer students almost immediate employment opportunities providing professionals a flexible work-life balance.
Driven by high demand for skincare and hair services, there are currently more than 1.4 million professionals throughout the U.S. who work in the professional beauty industry. The professional beauty and wellness industry’s economic trajectory tells a story of continued and sustained growth. Growing at an annual rate of 7% from 2022 to 2024, according to McKinsey & Co., the United States ranks among the 10 fastest-growing wellness markets worldwide.
But even a robust and resilient industry like ours cannot overcome bad policy decisions that threaten an entire industry. Congress never included an accountability metric for certificate programs like cosmetology or massage therapy programs in the One Big Beautiful Bill Act. The One Big Beautiful Bill Act does contain an accountability metric called “Do No Harm,” which is designed to keep colleges and universities that offer degree programs or graduate-level certificates accountable to the American people.
The accountability metric for degree programs, when applied to certificate programs, will eliminate opportunities for Americans to receive federal student aid, including Pell Grants, to unlock a career in cosmetology or massage therapy. The Department of Education has acknowledged using the Do No Harm provision as an accountability metric will have a severe negative impact on the cosmetology and massage schools nationwide, and determined that 92% of accredited cosmetology and massage therapy schools eventually will lose access to all federal student aid, including Pell Grants, for their students and most likely will be forced to close in the near future.
The one saving grace is that the department has not finalized its proposed rule, and it is not too late for the public to tell the department that this rule does not fit the bill for professional beauty students and schools. Comments must be received on or by May 20. You can submit your comments on the Accountability in Higher Education and Access through Demand-driven Workforce Pell (AHEAD) rule through the Federal eRulemaking Portal at regulations.gov/commenton/ED-2026-OPE-0100-0001. The department will not accept comments submitted by fax or by email or comments submitted after the comment period closes.
Any new rule adopted by the agency needs to account for the overall demographic and work-life balance goals of students and the professional beauty industry. These students and future small business owners deserve the same opportunities as students pursuing careers in other disciplines and fields.
Lynch is the owner and chief executive officer of the Poway-based Bellus Academy and the founding chair of the nonprofit Beauty Changes Lives, which awards nearly $500,000 in scholarships annually.
San Diego, CA
San Diego health officials monitor hantavirus situation as cruise ship passengers return to U.S.
SAN DIEGO (KGTV) — American passengers from a cruise ship hit with a hantavirus outbreak are back in the United States.
San Diego County health officials say they are monitoring the situation and there is no need for panic.
“The risk to Californians is really low and especially here in San Diego. Since the year 2000, we’ve only had 4 cases of hantavirus and the majority of those were in travel related cases so not even acquired here locally,” Ankita Kadakia, deputy public health officer for the County of San Diego, said.
According to the CDC, hantavirus is spread through contact with infected rodents.
“The virus can be in their saliva, feces or droppings,” Kadakia said.
San Diego County does see cases of rodents infected with hantavirus, but the strain seen locally is not the same strain connected to the cruise ship outbreak.
“The vast majority of strains of hantavirus are mouse or animal to human transmission. Not human to human transmission. So the Andes strain, which is found in Argentina, there is evidence that there is human to human transmission,” Dr. Ahmed Salem, a pulmonologist at Sharp Memorial Hospital, said.
Salem treated hantavirus during the 2012 Yosemite National Park outbreak.
“One of the ways you die from hantavirus is you get a collapse of your cardiac system and your pulmonary system and you have to go on something called ECMO. It’s one of the most aggressive forms of life support that you can do. So I do remember that case, and unfortunately, that person passed away,” Salem said.
There is currently no cure or vaccine for hantavirus. Health officials stress that for those who were not on the cruise ship, the risk of contracting the virus remains low.
This story was reported on-air by a journalist and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.
San Diego, CA
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