'All options on the table' as Trump announces 30 per cent tariffs on the EU
Martin said in a statement that the trade and investment relationship between the EU and the US, which he described as "the biggest in the world" should be resolved by "close and respectful dialogue".
"While it has been clear that all options remain on the table, the EU has also been clear that our preference is for a negotiated solution that avoids escalation. That remains the case," the Taoiseach said.
Tánaiste Simon Harris, meanwhile, described the move as "deeply regrettable".
'There is no necessity to escalate the situation or to further increase the additional tariffs which have been imposed on the EU," he said.
'The Government strongly supports the efforts by the European Commission to reach a mutually beneficial agreement with the US.
'The EU is at the negotiating table and will remain there. Now is the time to redouble our efforts and to seek to achieve positive results in the time available.
'The EU will remain united and focused as negotiations continue between now and 1 August.
'This will also be my continuing focus for the period ahead. On Monday I will meet with the US ambassador to Ireland and will continue to engage with colleagues across the EU in the days ahead. I also intend on updating colleagues further at the cabinet meeting on Tuesday.'
The tariffs announced by Trump could make everything from French cheese and Italian leather goods to German electronics and Spanish pharmaceuticals more expensive in the US.
In April, had Trump proposed a 20 per cent tariff for EU goods as part of a set of tariffs targeting countries with which the United States has a trade imbalance. He later threatened to raise that to 50 per cent after negotiations did not move as fast as he would have liked.
As of earlier this week, the EU's executive commission, which handles trade issues for the bloc's 27-member nations, said its leaders were still hoping to strike a deal with the Trump administration.
Without one, the EU said it was prepared to retaliate with tariffs on hundreds of American products, ranging from beef and auto parts to beer and Boeing airplanes.
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