Last week, US President Donald Trump announced a temporary suspension of the 20 percent tariffs on all imports from the EU for 90 days. During this time, baseline tariffs of 10 percent will still apply to imports from the EU into the US.
Following the initial announcement of the 20 percent tariffs, calls were made for the US to engage in meaningful negotiation. The Institute’s Director of Members and Advocacy, Cróna Clohisey previously urged the Irish Government to work with the EU Commission to engage with the US administration in constructive dialogue prioritising solutions over a cycle of retaliatory measures.
In his address to the Dail Eireann, Minister for Finance, Paschal Donohoe outlined that the Government’s priority was to de-escalate the current situation and avoid increased trade disputes, noting that this is something the Government, or even the EU, can fully control.
In relation to the Government’s policy response to the tariffs, Minister Donohue also said:
“We must now focus on how we can best insulate ourselves against current uncertainty, exploring how we could potentially diversify our trading portfolio. We must also continue to support the largest employers in the State - the small and medium-sized indigenous enterprises up and down the country. We must focus on the factors that are within our control and influence.”
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