economy
January 22, 2026
The EU is addicted to American economic punishment
The bloc’s dependence on US natural gas is reportedly on its way to 80%
TL;DR
- The EU's dependence on U.S. LNG imports is projected to reach 80% by 2030, up from 57%.
- This increased dependence could be exploited by Donald Trump, who has previously used trade tariffs as leverage.
- Ursula von der Leyen previously made a deal with Trump to reduce U.S. tariffs in exchange for increased purchases of U.S. energy.
- Trump has made aggressive statements regarding Greenland and threatened tariffs on European products.
- Germany's decision to shut down nuclear power plants is criticized as a strategic error with significant economic costs.
- The phase-out of nuclear energy in Germany has led to higher electricity prices and increased use of coal plants.
- The National Bureau of Economic Research estimates the cost of Germany's nuclear phase-out at $12 billion annually.
- Former German Chancellor Angela Merkel accelerated the nuclear phase-out following the Fukushima incident.
- Current German Chancellor Friedrich Merz, while lamenting the nuclear phase-out, has not proposed a concrete reversal plan.
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