Trump vows US will address trade deficit with EU

WASHINGTON, Jan 20 (Reuters) - U.S. President Donald Trump on Monday vowed to address a longstanding trade deficit with the European Union, either by imposing tariffs or through stepped up oil and gas exports.

Trump told reporters that EU imposed a value-added tax of 20% that was nearly equivalent to a tariff.

"They're very tough. They don't take our cars. They don't take our farm product, they don't take almost anything," he said. "We'll straighten that with either tariffs or they have to buy our oil and gas."

(Reporting by Jeff Mason and Andrea Shalal; Editing by Lisa Shumaker)

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