President-elect Donald Trump has issued a stark ultimatum to the European Union: increase purchases of American oil and gas or face tariffs. Trump’s demand aims to address the trade deficit between the US and EU, which reached $131.3 billion in 2022. While the EU has already significantly increased its imports of US hydrocarbons in recent years, ramping up purchases to the level Trump suggests faces numerous practical constraints.

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Gold Near $4,700: The Chaos Isn’t a Ceiling. It’s a Floor
Gold is holding near all-time highs because five institutional systems are under simultaneous stress: a new Fed chair inheriting uncontrollable inflation, mortgage rates at a six-month high, India’s gold market fracturing under a sudden import duty hike, a US-Iran ceasefire on life support, and a World Bank forecast of 42% precious metals gains in 2026. These aren’t five separate stories. They’re the same story told five ways.




