TAOISEACH Micheál Martin has said that US President Donald Trump's threat to impose tariffs of 50 per cent on all goods from the EU is 'disappointing'.
Earlier this year, Trump announced 20 per cent tariffs on goods entering the US from the EU, although this was later suspended, with a 10 per cent baseline tariff applied instead.
It was hoped a deal could be thrashed out between the bloc and the US before the higher rate came into force on July 8.
However, the US president has now said on social media that talks with the EU are 'going nowhere' and proposed a rate more than double his initial suggestion, to take effect from June 1.
Maroš Šefčovič, the EU Commissioner for Trade and Economic Security, said on Friday that he had held talks with Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer.
Šefčovič said the EU was 'committed to securing a deal that works for both' but that it 'must be guided by mutual respect, not threats'.
"We stand ready to defend our interests," he added.
'Tariffs are damaging to all sides'
Ireland is one of the 27 EU member states represented by the bloc and will therefore be subject to the proposed 50 per cent tariff.
The Taoiseach has now urged negotiations to continue so a deal can be struck, or risk damaging 'one of the world’s most dynamic and significant trading relationships'.
"US President Trump's suggestion today that he is recommending a 50 per cent tariff on EU imports from June 1 is enormously disappointing," said Mr Martin.
"I welcomed the pause in tariffs until early July to allow for continued negotiations between the EU and the US, and ideally an agreed outcome.
"I have always been clear in my view that tariffs are damaging to all sides — those imposing them, those on the receiving end and, most importantly, to businesses and consumers.
"A negotiated outcome is the best possible result for both sides, as well as for global trade.
"The EU has been engaging in good faith in that process and I understand Commissioner Šefčovič was due to talk to his US counterpart again this afternoon.
"Tariffs at the level suggested would not only push prices up, they would grievously damage one of the world's most dynamic and significant trading relationships, as well as disrupting wider global trade.
"We do not need to go down this road. Negotiations are the best and only sustainable way forward."
See More: Donald Trump, European Union, Micheál Martin, Tariffs
