Washington DC - President-elect Donald Trump has threatened to take back the Panama Canal if the country doesn't do something about the "ridiculous" tariffs they are charging the US to use it.

On Saturday, Trump shared a series of posts to his Truth Social platform, in which he described the canal as a "VITAL national asset for the United States" as it is used for quick shipping to US ports and allows for rapid deployment of the Navy.

But he went on to argue that "Our Navy and Commerce have been treated in a very unfair and injudicious way."

"The fees being charged by Panama are ridiculous, especially knowing the extraordinary generosity that has been bestowed to Panama by the US," Trump wrote. "This complete 'rip-off' of our Country will immediately stop."

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The Panama Canal, which was built by the US between 1904 and 1914, connects the Atlantic Ocean to the Pacific. Control of the canal was given to Panama in 1999 as part of a treaty put together by President Jimmy Carter, who Trump said "foolishly gave it away."

Today, the US uses the canal more than any other country, and according to The Hill, tariff charges range from $0.50 to as high as $300,000.

"If the principles, both moral and legal, of this magnanimous gesture of giving are not followed, then we will demand that the Panama Canal be returned to us, in full, and without question," Trump added.