Donald Trump has said he will impose tariffs on the European Union if the bloc does not make up its "tremendous" trade deficit with the United States.

U.S. President-elect Donald Trump said on Friday the European Union should step up U.S. oil and gas imports or face tariffs on the bloc's exports that include goods such as cars and machinery.

U.S. President-elect Donald Trump threatened the European Union with new tariffs if the group of countries doesn't shrink its trade deficit with the U.S. by buying more oil and gas during Trump's second term.