Trump to Europe: Buy more of our oil and gas or face tariffs | Money [Video]

(CNN) — President-elect Donald Trump doubled down on his tariff threats Thursday night, pledging to raise tariffs on European Union nations unless they increase their purchases of American oil and gas to narrow the trade gap with the United States.

“I told the European Union that they must make up their tremendous deficit with the United States by the large scale purchase of our oil and gas. Otherwise, it is TARIFFS all the way!!!” Trump posted on Truth Social, which is owned by his media company.

Trump has continued to use the threat of tariffs as a negotiating tactic with countries he believes are treating the United States unfairly. In November, Trump threatened a massive 25% across-the-board tariff on all imported goods from Canada and Mexico unless those countries tighten up what he viewed as lax drug and border enforcement.

The specter of higher tariffs, or even a trade war, also adds to …