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Trump: «The most important and primary factor of inflation is energy. They ruined my energy policy. And then they went back to it. You know, they damaged it a lot, and then they went back to it and started drilling more. But by the time that happened, it was already too late.
Many of the things we’re signing, and that Doug Bergum is going to sign, and Chris Wright, who is phenomenal—you know, energy, the Department of Energy—we’re going to take a lot. We’re going to make a lot of money with energy.
We have more than anyone. We’re going to make a lot of money with energy. We’re going to make a lot of money with tariffs. You know, the European Union charges us—they have a 20% VAT, but it’s actually much higher than that.
And that’s almost equivalent to a tariff. And they’re tough. They’re very tough. They don’t accept our cars. They don’t accept our agricultural products. They accept almost nothing.
And yet, we take their cars, and we take their agricultural products. We take a lot from them. So, you know, we have like a $300 billion deficit with the European Union.
So we’ll fix that with tariffs, or they’ll have to buy our oil. The only thing they can do to catch up quickly is buy our oil and gas.»
