Trump's next target is Europe

[Anchor]

U.S. President Donald Trump has pointed to Europe as the next target for tariffs.

Regarding concerns that U.S. prices will rise, he stated that it is a pain worth paying for and did not back down.

This is Kim Kyung-soo reporting from Washington.

[Report]

U.S. President Trump emphasized the reason for the tariff measures, stating that the U.S. has been exploited by almost all countries.

He acknowledged that there may be some short-term pain for Americans due to the tariffs, but insisted it is a cost worth paying.

[Donald Trump/President of the United States: "We are going to change it. It's been unfair. That's why we owe 36 trillion dollars."]

He identified the European Union as the next target for tariffs, stating that it will happen "very soon."

The European Union is the second largest trade deficit for the U.S. after China.

[Donald Trump/President of the United States: "We have over a 300 billion dollar deficit. They don't take our cars. They don't take our farm products."]

Amid inflation concerns, American consumers have started stockpiling, claiming today is the cheapest day.

With nearly half of U.S. agricultural imports coming from Mexico and Canada, food prices have taken a direct hit.

[Matthew Martin/Economist: "Agricultural products from Mexico, whether it's avocados or otherwise, are going to be directly impacted by these."]

For this reason, Goldman Sachs has suggested that the imposition of tariffs may be temporary and that there is a possibility of a compromise just before the tariffs take effect.

President Trump stated that he would have phone calls with the leaders of Mexico and Canada a day before the tariffs are implemented, but he does not expect anything dramatic.

This is Kim Kyung-soo for KBS News in Washington.