Link Securities | The European Union (EU) plans to revive its bid to buy more US gas, betting that US President Donald Trump is more open to negotiate after temporarily suspending the tariffs from taking effect, POLITICO reported on Monday.
The bloc plans to resume talks on increased purchases of US liquefied natural gas (LNG) and will offer specific proposals to address Trump’s position on transatlantic trade, three European officials briefed on the talks, who requested anonymity to discuss the talks behind closed doors, told POLITICO.
Specifically, these officials indicated that the EU is looking for ways to aggregate demand, a process that would allow the continent to place larger pan-European orders to meet White House demand, ideally at more competitive prices. The offer is not necessarily new. The EU has been trying to engage with the Trump administration on the issue for months, but diplomats said its attempts at rapprochement generated confusion and disinterest. Now, however, the situation has changed: markets are plummeting and business leaders are pleading with Trump to change his tactics.
