Tánaiste to warn of impact of further tariffs
Tánaiste Simon Harris will today warn that the threat of further tariffs represents "the most serious challenge to transatlantic economic relations in generations."
In a speech at the National Economic Dialogue at Dublin Castle, Mr Harris will insist that the EU must remain steadfast in pursuing "substantive, calm, measured, and comprehensive dialogue" with the US in order to avoid the imposition of further tariffs.
The National Economic Dialogue is an annual event that brings together various stakeholders for consultation and discussion on the upcoming budget.
It will be attended by trade unions, business groups, charities, and environmental organisations.
The event will be addressed by the Taoiseach, Tánaiste, Minister for Finance, Minister for Public Expenditure, and other members of the Cabinet.
In his address to the conference, Minister for Finance Paschal Donohoe will tell delegates that the near-term economic outlook is clouded in uncertainty and that positive headline economic figures so far this year mask considerable vulnerabilities.
"Much of the headline balance arises from a handful of large multinationals and, as I mentioned, the mood-music is changing. It is not appropriate – indeed it could be dangerous – to plan on the basis of these receipts being permanent," Mr Donohoe will say.
The theme of this year's National Economic Dialogue is 'Medium-term budgetary planning against a rapidly changing global backdrop'.
The conference is not intended to produce specific budget proposals or recommendations but rather to assist participants in preparing their own pre-budget submissions.
Ahead of the event, the Irish Congress of Trade Unions (ICTU) has warned that Ireland's economic model is unsustainable and has urged the Government to use Budget 2026 to put the economy on a firmer footing.
ICTU General Secretary Owen Reidy said the country has been left dangerously exposed to global shocks.
"In this era of uncertainty, Government needs to end its reliance on the sugar rush of corporation tax windfalls, and start serious planning for the longer term," Mr Reidy said.
"We have an over-reliance on a handful of firms for corporation tax, significant wage inequality, and major infrastructure deficits across housing, healthcare and transport," he added.
Speaking ahead of the event, Social Justice Ireland said the country's overall level of taxation will have to rise significantly in the years to come to address current service and infrastructure deficits, and meet the changing needs of a growing and ageing population
"Work must begin now on planning for a sustainable tax-take and wise investment of available funds into infrastructure and services to embed resilience," said John McGeady, CEO, Social Justice Ireland.
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