PALM BEACH, Fla. - President Donald Trump stated on Sunday he is unconcerned about the possibility of the European Union (EU) blocking imports of certain American food products in response to his tariff policy.
The Financial Times reported the European Commission is considering this move. Soybean crops are reportedly at risk of being targeted.
When asked about this at Palm Beach International Airport in Florida, Trump responded, "That's alright, I don't mind. Let them do it ... they're just hurting themselves if they do that."
Last week, Trump signed a memorandum ordering a "fair and reciprocal" trade plan. The White House stated this plan will "seek to correct longstanding imbalances in international trade and ensure fairness across the board."
Trump said, "I've decided for purposes of fairness that I will charge a reciprocal tariff. It's fair to all. No other country can complain."
The White House noted the EU imposes a 10% tariff on imported cars, while the U.S. enforces a 2.5% tariff. The EU "can export all the shellfish it wants to America," but "bans shellfish exports" from 48 U.S. states. The White House argues these examples have contributed to a persistent trade deficit in goods faced by the U.S.
Trump stated, "We're having reciprocal tariffs. Whatever they charge, we charge. Very simple."
Earlier this month, Trump threatened 25% tariffs on imports from Canada and Mexico, and an additional 10% on Chinese imports. He later temporarily paused the tariffs on Canada and Mexico after leaders of the two countries vowed to take steps to address border security and drug trafficking concerns.
Trump also announced a 25% tariff on steel and aluminum imports this month.
A Lending Tree survey found three in four Americans believe the tariffs will cause prices in the U.S. to increase. 44% of respondents indicated they believe their personal finances will be harmed as a result.