IEA Responds to US Tariff Announcement
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“The announcement marks a pivotal moment for Irish exporters and the broader economy. Despite weeks of meticulous preparation and thorough supply chain analysis by many exporters, the introduction of 20% tariffs will bring a business-defining challenge for all exporters. Whilst we welcome that pharmaceuticals are for the moment not subject to this tariff, there are many Irish owned and Irish based exporting companies who are now faced with an unprecedented challenge.
With a baseline tariff of 10% it remains to be seen if this is a first step negotiating tactic, however we must recognise that the USA has fundamentally changed its economic relationship with the rest of the world and acknowledge that the landscape of global trade has essentially shifted, and the reality of long-lasting tariffs is here to stay. The tariff gap between the UK and EU further complicates the situation particularly in the case of Northern Ireland.
We urgently need government to press for Ireland’s interests with our partners in the EU as it considers its response and that it focuses on addressing competitiveness at home whilst supporting exporters with seeking out new market opportunities.”
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