Summary:
1- Trump threatens to impose high tariffs on products not manufactured in the United States.
2- The European Union plans to extend its natural gas storage target until 2027.
3- Initial jobless claims in the United States rose slightly, but continuing claims reached their highest level in over three years.

Trump Threatens to Impose High Tariffs on Products Not Manufactured in the United States:
On January 23, President Trump stated in a televised speech at the 2025 Annual Meeting of the World Economic Forum that products not manufactured in the United States would face high tariffs. He aimed to tell global companies, “Produce products in the United States,” or else they would have to pay hefty tariffs, which would bring hundreds of billions, or even trillions, into the U.S. Treasury. Trump also promised to reduce corporate taxes for companies producing within the United States to 15%.

He criticized the European Union for imposing high tariffs, restrictive regulations, and maintaining a significant trade deficit. He further stated that he would take action because this situation was “very unfair to the United States.”

When asked whether the U.S. would guarantee natural gas supplies to Europe, Trump responded positively, indicating that he would reach an energy agreement with Europe. He emphasized the importance of the U.S. exporting liquefied natural gas (LNG) to the EU and revealed plans to intervene on a large scale in the global oil market. He also called on OPEC countries, such as Saudi Arabia, to “reduce oil costs.” Regarding the conflict between Russia and Ukraine, Trump stated that the United States would strive to ensure a peaceful resolution.

The European Union Plans to Extend Its Natural Gas Storage Target Until 2027:
According to reliable sources, the European Commission plans to request an extension of the natural gas storage target for the European region until 2027 to help alleviate ongoing concerns about supply security.

The EU introduced natural gas storage targets during the peak of the energy crisis in 2022 to ensure sufficient supplies during the coldest periods. This system was initially scheduled to end by the end of 2025. However, the EU’s executive body is currently drafting a measure to extend it. Approval from member states and the European Parliament will be required for this proposal, with the process expected to be completed by the end of June.

Initial Jobless Claims in the United States Rose Slightly, but Continuing Claims Reached Their Highest Level in Over Three Years:
The number of initial jobless claims in the United States rose slightly, while continuing claims reached their highest level in more than three years.

Data showed that initial jobless claims for the week ending January 18 increased by 6,000 to 223,000. Economists surveyed had expected an average of 220,000.

Data released by the Department of Labor last Thursday indicated that continuing jobless claims jumped to 1.9 million last week, the highest level since November 2021. This suggests that unemployed individuals are taking longer to find work. However, weekly data tends to be volatile, particularly during this time of the year.