Tanaiste calls for 'calm dialogue' as Donald Trump dealt huge tariff blow
Tánaiste Simon Harris has called for calm dialogue on trade after a US court blocked President Donald Trump from imposing sweeping tariffs.
The ruling from the New York-based Court of International Trade came after several lawsuits arguing the US president had exceeded his authority, left American trade policy dependent on his whims and unleashed economic chaos. The Trump administration is expected to appeal.
It comes following another embarrassment for the US leader, as a new phrase, 'TACO', or 'Trump Always Chickens Out', has been coined to describe Mr Trump's approach to implementing tariffs.
Tariffs are typically approved by the US Congress, but Mr Trump says he has the power to act because the country's trade deficits amount to a national emergency.
A federal court in New York handed US President Donald Trump a big setback on Wednesday, blocking his plan to impose massive taxes on imports from almost every country in the world.
A three-judge panel of the US Court of International Trade ruled that Mr Trump overstepped his authority when he invoked the 1977 International Emergency Economic Powers Act (IEEPA) to declare a national emergency and justify the sweeping tariffs.
Mr Harris said 'calm and measured dialogue' represents the 'best way forward' to resolving trade differences between the EU and the US.
He said: 'We note the ruling of the US Court of International Trade in relation to tariffs and also the fact that this ruling is being appealed.
'I want to stress the position once again today that what is required now is for both sides, the EU and the US, to engage in calm and measured dialogue, and to do so in good faith.
'The continuing uncertainty over tariffs is the source of serious concern for businesses, here in Ireland but also across the EU and the US.
'Businesses that are concerned about their cost base, their workers, and their plans to invest.
'We will continue to monitor the implications of the court decision in the US while keeping our main focus on the negotiations at hand.'
It comes after Mr Trump said he will pause his threatened 50 per cent tariffs on the EU until July 9, following a 'very nice call' with European Commission president Ursula von der Leyen.
In April, Mr Trump announced a 20 per cent tariff on EU goods being sold into the US. He later reduced that to 10 per cent until July 9 to allow for time for talks with Brussels on a potential agreement.
Last Friday, the president claimed the talks were 'going nowhere' and recommended that the 50 per cent tariff rate come into effect on June 1.
He rowed back on the decision on Monday, claiming Ms von der Leyen called him asking for an extension to the date.
In another blow to Mr Trump, reports have suggested that the term 'TACO' is being used by Wall Street traders to describe the US President's constant U-turns on tariffs.
In addition to changing tack on the EU tariffs, Mr Trump has rowed back on tariffs on China, Canada and the UK.
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