U.S. President Donald Trump has promised to address a longstanding trade deficit with the European Union, saying he will reverse that by imposing tariffs or making the EU buy more U.S. oil and gas.

The European Union and the U.S. should look at lowering tariffs on each other as part of a solution to President Trump's threats of higher levies, the EU's trade envoy said. The comments from Maroš Šefčovič,