Tánaiste and Minister for Foreign Affairs Simon Harris has called for "calm, measured dialogue" between the EU and US to end the ongoing tariffs threats.
He was speaking at the Global Ireland Summit in Dublin Castle, where he is meeting Irish ambassadors, consul generals, business leaders and other senior officials.
The summit was organised due to the ongoing concerns around tariffs, global trade and continuing instability around the world.
In his address at the summit, the Fine Gael leader acknowledged that the world economy is facing a "tumultuous" period.
He said "we can see no justification for tariffs to be imposed by the US on its trading partners", saying "tariffs are counter-productive".
Mr Harris said while there is "uncertainty and turmoil" in the global economy, Ireland has a number of plans to help protect this country, including diversifying Ireland's focus to include "new opportunities and alternative markets".
The Tánaiste said there is a need for the EU to remain united in response to the US tariffs threats.
"All sides need to engage in good faith because uncertainty and turmoil is not the way forward.
"The Government has begun developing a detailed action plan for trade diversification, which will seek to identify new opportunities and alternative markets for Irish goods, working closely with our embassies and State bodies abroad."
Mr Harris also raised ongoing concerns over the conflict in the middle east, saying there are clear warnings of a famine in Gaza.
"I am deeply appalled and sickened about Israel's continuing blockade of humanitarian aid entering Gaza.
"We have reports from the World Food Programme that food supplies are running out, with famine now a real risk for many Gazans," he said.
"Children are being left starving, and even dying, as we speak.
"We cannot and will not stand idly by and let this happen.
"The failure to move to phase two of the ceasefire and hostage release deal has been devastating for the families involved and for ordinary Palestinians in Gaza.
"So today, I call again for an immediate cessation of hostilities, the release of all remaining hostages, and the resumption of humanitarian assistance at scale into and throughout Gaza," he said.
Meanwhile, the Tánaiste also said he will speak again with UK counterparts on Northern Ireland legacy issues in the coming weeks.
"Since I took office as Tánaiste three months ago, I have been clear that I will do everything possible to see whether we can reach agreement with the British government on legacy issues.
"It is not easy, but it could not be more important. The thousands of victims and survivors of the Troubles on this island deserve nothing less," he said.
"Ten days ago, I met with Secretary of State Hilary Benn in Hillsborough and committed to continuing to work with him to see if we can reach agreement in the coming weeks. I repeat that commitment today."
