President of the European Commission Ursula von der Leyen stated Friday that she proposed to President-elect Donald Trump the potential for increased U.S. natural gas exports to Europe to reduce the European Union’s dependency on Russian energy sources.

Speaking on the subject, von der Leyen highlighted the benefits of importing U.S. liquefied natural gas (LNG), which could not only aid Europe’s energy needs but also address the EU’s trade deficit with the U.S.

Von der Leyen emphasized the importance of collaboration between the EU and the incoming Trump administration, saying it was “very important” for Brussels to engage around “common interests” with Trump.

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According to AFP News, she specifically pointed to LNG imports as a topic of shared interest between Europe and the U.S. “Common interests are, for example — this is one topic that we touched upon, I would not say discuss — it’s the whole topic of LNG,” von der Leyen said in Budapest, according to Barron’s.

“We still get a lot of LNG from Russia, and why not replace it [with] American LNG, which is cheaper for us and brings down our energy prices,” she stated, as reported by Reuters.

NEW: President of the European Union commission says they want to start buying oil from the United States and not Russia.

Trump wins the election and the world falls in line. Remarkable.

“We still get a lot of [liquified natural gas] from Russia, and why not replace it by… pic.twitter.com/E6OwSN6UrR

— Collin Rugg (@CollinRugg) November 8, 2024

This proposal comes as the European Union seeks to diversify its energy supplies amid heightened security concerns and fluctuating prices in global energy markets.

The Biden-Harris administration has faced criticism for restrictions on LNG exports, following a January decision by the Department of Energy to halt new and pending approvals for certain LNG export terminals.

Reports suggest that some federal agencies might challenge Trump’s expected push to expedite LNG export approvals, which could impact the trade dynamics between the U.S. and Europe.

The transition to Trump’s presidency has also sparked discussions among EU officials regarding defense spending.

Officials from France and Germany acknowledged this week that Europe may need to increase its defense expenditures following Trump’s election victory, signaling a shift toward greater self-reliance in security matters.

In addition to energy, American companies anticipate that Trump may implement new tariffs on imported goods. During his previous term, Trump imposed tariffs on aluminum and steel in 2018, affecting the cost of imported materials.

He recently commented on potential tariffs, stating in September that he would impose a 200% tariff on John Deere tractors if the company decided to relocate manufacturing outside the U.S.

Trump has promised to boost domestic production, including a pledge to make car loan interest fully tax-deductible, aimed at stimulating the U.S. auto manufacturing sector.

Trump’s election victory on Tuesday, which included wins in key battleground states such as Michigan and Pennsylvania, has already had economic repercussions.

Following his win over Kamala Harris, the U.S. stock market surged on Wednesday, reflecting investor confidence in the president-elect’s agenda focused on domestic manufacturing, energy independence, and trade reform.

Several world leaders have congratulated Trump, and the global community is now watching for policy changes that may arise after his return to the White House in January.

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