AsianFin -- U.S. President-elect Donald Trump said on Friday that the European Union must address its "tremendous deficit" with the United States by making significant purchases of American oil and gas, or face the imposition of tariffs.

In a post on Truth Social, Trump emphasized, "I told the European Union they must make up their tremendous deficit with the United States by purchasing our oil and gas on a large scale."

He further warned, "Otherwise, it is TARIFFS all the way!!!"