The government must ensure that Ireland\u2019s interests are protected in any EU response to President Trump\u2019s trade tariffs, according to Social Democrats acting leader Cian O\u2019Callaghan.<\/p>\n
Deputy O\u2019Callaghan said:<\/p>\n
\u201cPresident Trump has now fired the starting gun on an unprecedented global trade war, with punitive 20 per cent tariffs slapped on EU exports to the US.<\/p>\n
\u201cIreland, as a small open economy with huge trade with the US, is more exposed than most by yesterday\u2019s events. The implications of a lower 10 per cent rate being applied to UK exports \u2013 which effectively creates a two-tier trading arrangement with America on the island of Ireland \u2013 will require particular focus.<\/p>\n
\u201cThe 20 per cent tariff will badly hit Irish exports, particularly in the agri-food and drink sectors. The government must look at ways of best supporting the businesses that will be most impacted by Trump taking a wrecking ball to the world economy.<\/p>\n
\u201cThe only positive from Trump\u2019s announcement is the stay of execution for Ireland\u2019s pharma sector. However, this may only turn out to be a temporary reprieve.<\/p>\n
\u201cIt is clear from the US President\u2019s previous comments that he has our pharma sector in his sights. Given that pharma comprises around \u20ac100 billion \u2013 or 45 per cent of our goods exports \u2013 this is deeply concerning.<\/p>\n
\u201cThe pharma industry, and the people who work in it, are a critically important part of our economy. It is crucial that it does not get caught in the crossfire of a tit-for-tat trade war of attrition between the EU and the US.<\/p>\n
\u201cHow the EU decides to retaliate to Mr Trump\u2019s tariffs will have a huge impact on Ireland. The government must ensure that Ireland\u2019s voice is loudly heard in any trade negotiations between Europe and the United States.<\/p>\n
\u201cIt is important there is no kneejerk reaction from the EU to Trump\u2019s tariffs and that cool heads prevail. Any escalation could risk Ireland’s pharma and tech sectors being dragged into a cross-Atlantic trade war \u2013 with devastating economic consequences.\u201d<\/p>\n
April 3, 2025<\/em><\/p>\n","protected":false},"excerpt":{"rendered":" The government must ensure that Ireland\u2019s interests are protected in any EU response to President Trump\u2019s trade tariffs, according to Social Democrats acting leader Cian O\u2019Callaghan. Deputy O\u2019Callaghan said: \u201cPresident Trump has now fired the starting gun on an unprecedented global trade war, with punitive 20 per cent tariffs slapped on EU exports to the […]<\/p>\n","protected":false},"author":3,"featured_media":11216,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[278,88,408,7,681,680],"tags":[],"class_list":["post-12036","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cian-ocallaghan","category-finance","category-foreign-affairs","category-press-release","category-tariffs","category-trump"],"acf":[],"yoast_head":"\n