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US President Donald Trump attacked the Organization of the Petroleum Exporting Countries (OPEC) by warning that the organization would stop manipulating the price of oil and put pressure on its allies, threatening of sanctions European companies dealing with Iran
On Twitter, Trump said that Saudi King Salman bin Abdulaziz Al Saud would have agreed to increase his oil production. Then, the White House retreated and announced that the Saudis would increase production if necessary.
Oil prices rose last Friday, fearing that US sanctions against Iran will remove large volumes of oil from the United States.
In an interview last Sunday with the Fox News Network, Trump blamed directly OPEC, of which Saudi Arabia is a member. When asked if anyone was manipulating the markets, Trump said: "The OPEC is here and it is better to stop because we are protecting these countries."
Europe in sight.
US President will travel to Europe later this month for a meeting of the North Atlantic Treaty Organization (NATO), but tensions trade agreements between Americans and Europeans are expected to dominate travel, not only compared to oil, but especially by imposing tariffs on steel and aluminum to US trading partners.
At Fox News, the US president also compared the practices with those of China. "The European Union is perhaps as bad as China, except that it is smaller, the Europeans had a trade surplus of $ 151 billion last year."
Still on foreign trade, Trump told Fox that he was not satisfied with the North American Free Trade Agreement (NAFTA), signed with Canada and Mexico . The president also said that he will not discuss a new agreement between the countries before the November elections in the United States.
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