Sefcovic noted that the 27-country bloc is preparing potential countermeasures worth 72 billion euros.

BRUSSELS, July 14 (Xinhua) -- Danish Foreign Minister Lars Lokke Rasmussen condemned the Trump administration's threat to impose 30 percent tariffs on European Union (EU) exports as "absolutely unacceptable" during a joint press conference with EU trade chief Maros Sefcovic here on Monday.

Rasmussen said that the bloc views the threat as "absolutely unacceptable and unjustified" and is prepared to respond if talks with Washington fail to produce a viable outcome.

"We are committed to continuing working with the United States on a negotiated outcome," he said, but the agreement has to be "mutually acceptable" on both sides.

He revealed that the EU will react with robust and proportionate countermeasures if required.

Sefcovic noted that the 27-country bloc is preparing potential countermeasures worth 72 billion euros (84 billion U.S. dollars).

"We must be prepared for all outcomes, including, if necessary, well-considered proportionate measures to restore balance in our transatlantic relationship," he stressed.

Sefcovic said that he believes there is "still a potential to continue the negotiations" but stressed any deal will need the backing of all EU member states and the European Parliament. (1 euro = 1.17 U.S. dollar)