"Our economic relations with the US are far less active than those of many other countries," Nausėda told after the informal meeting of the EU leaders on Monday.
"It would have small direct consequences for our economy, but the indirect consequences would certainly be large. Because we are linked by production chains with other EU countries," he said.
Exports from some of the EU countries to the United States are valued at billions of euros, according to the president.
"I have talked to the Irish prime minister about this. There is certainly talk of tens of billions of euros," Nausėda said, adding that Lithuania is currently running a trade deficit with the US.
President Nausėda earlier said a trade war with the US can be avoided by engaging in "positive discussions." He suggested that economic agreements with the EU could resolve issues linked to US competitiveness problems.
A few days ago, Trump’s administration imposed 25% tariffs on Mexican and Canadian goods, and 10% tariffs on Chinese imports. The US president also said that tariffs on the EU would "definitely happen."