Michael McGrath, the European commissioner for justice, has said the European Union's response the slated introduction by the US on August 1 of a 30 per cent tariff on EU goods will be "firm, quick and robust".

Speaking on RTÉ's Morning Ireland, McGrath said Brussels remains in intense negotiations with Washington, and that he believes progress has been made towards a settlement ahead of the revised deadline.

"We are particularly conscious of the need, insofar as possible, to remove uncertainty for businesses, because we know how damaging that is to international trade, to the prospects and the investment decisions of companies," said McGrath.

"Tariffs are ultimately paid for by somebody along the supply chain, most likely by the end consumer, and tariffs are also damaging to workers because they undermine the viability of companies."

McGrath described the EU-US trading relationship as "mutually beneficial, supporting millions of jobs on both sides of the Atlantic".

"We are negotiating very professionally, in good faith, and we are seeking the best possible deal for European companies because we recognise the importance of trade peace, the importance of stability and of certainty around terms of trade,"  he continued.

McGrath said Brussels and Washington need to work together on issues around global trade, adding that the EU stands ready to intensify dialogue.

"But let me be clear, in the event of that not being successful and of the 30% tariff threat that was issued by President Trump coming to pass in two and a half weeks' time, then the European response will be firm, it will be quick, and it will be robust," he said.

The EU has prepared for a range of scenarios and two different sets of countermeasures that amount to tariffs of €90bn on US exports to Europe.

"We do not wish for that to come to pass," he continued. "We have a range of instruments and tools, the EU is in a strong position, and these negotiations are ongoing, and we're doing everything we possibly can to get a good outcome for European companies."

McGrath said the bloc would not relax regulations on Big Tech as part of trade negotiations, stating that the EU has to uphold its "autonomy and integrity".

He also said that there have been discussions with the US administration surrounding the terms of trade.

"We have been generous in our offers, we have put forward proposals around zero for zero tariffs for a whole range of different goods," he said.

"The EU is a world leader in international trade ... the US relationship is critically important, we want to continue to invest in it and support it.

"But we are also getting our own house in order by ensuring we diversify our trade relationships, improve the competitiveness of the European economy and break down the remaining barriers in the single market."

He described it as "vital", in addition to the track which the EU is already taking to get "the best deal we can with the US".

Photo: Michael McGrath. (Pic: Thierry Monasse/Getty Images)