The extension of the period of instability in ties would "reflect negatively on the entire Middle East region, including American interests", Fahmy warned.
"We are now in a delicate state reflecting the turmoil in the relationship and anyone who says otherwise is not speaking honestly," he told state-run Al-Ahram newspaper.
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"At the same time, I am not very worried about this unrest in relations," he said, "The Egyptian people will not hesitate to bear the consequences of such a situation in order to preserve their freedom of choice after two revolutions."
"In addition, this unrest will equally serve Egypt and the US because both will reconsider and better estimate their relationship in the future," the minister added.
Last week, the US suspended delivery of tanks, fighter aircrafts, helicopters and missiles, as well as USD 260 million in cash aid after the country's powerful military ousted Mohammed Mursi - the first freely elected president - on July 3.
Egypt criticised US decision to curtail military and economic aid after crackdown on Mursi's Muslim Brotherhood, although Washington stressed it was not severing ties with its long-standing ally.
US officials had said that the move reflected the Obama administration's unhappiness with Egypt's path since the army removed Mursi.
However, the US added it would continue to provide funding that benefits the Egyptian people in such areas as education, health and the development of the private sector.
The army-backed interim government insisted that Egypt would not bow to US pressure, saying it found the decision strange at a time when the country was "facing a war against terrorism".