Cork-based pharma consultancy plans to double headcount amid tariff uncertainty
• How one Irish consultancy is preparing to grow despite Donald Trump's latest tariff threats
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Irish Daily Mirror
41 minutes ago
- Irish Daily Mirror
Trump's deal with Europe sucks for Ireland and what the EU is importing
Europe is poised to embrace a surge of American vehicles and energy following Brussels securing an eleventh-hour trade agreement with Donald Trump, barely averting a transatlantic trade war. The pact, revealed on Sunday, means the European Union will now encounter a uniform 15 per cent levy on exports to the United States—cutting in half the 30 per cent rate previously threatened by the former president. In return, Mr Trump stated the EU had consented to eliminate tariffs completely on US goods entering the bloc. Nevertheless, in stark contrast to the EU's negotiations with the UK over Brexit, where complex matters such as implementing trade obstacles across the Irish Sea arose, this time Ireland's interests appear to have been relegated to the lower end of the bloc's priorities. How significant is Trump's agreement with Europe? Under the arrangement, the EU will purchase $750bn (£558bn) of energy from the United States and pledge an additional $600bn in investments into the world's largest economy. "We are agreeing that the tariff straight across for automobiles and everything else will be a tariff of 15pc," said Mr Trump, who has consistently advocated for Europe to purchase more American oil and gas. "We have the opening up of all the European countries, which were essentially closed. You were not exactly taking our autos, you weren't exactly taking our agriculture. Now it is open. "It is open for our companies to go in and do a good job." Europe is set to welcome a wave of American cars and energy after Brussels clinched a deal (Image: Getty) Mr Trump stated the agreement would provide Europeans with enhanced access to US pickup trucks and SUVs, with commerce between the two economies now poised to grow. "They [Europe] are going to make a lot of money with this," he said. "I think everybody is. And it is going to bring a lot of unity and friendship." Financial markets have been rattled in recent months by Mr Trump's fluctuating trade policies, with the tariff standoff generating uncertainty for global investors and governments. What does Trump hope to achieve with his Europe trade deal? Ms von der Leyen said the objective of the agreement was to "rebalance" trade flows between the two sides. "The starting point was an imbalance, a surplus on our side and a deficit on the US side, and we wanted to rebalance that," she said. "We wanted to do it in a way that trade goes on between the two of us, across the Atlantic. "The two biggest economies should have good trade flowing: rebalance, but enable trade on both sides, which means good jobs on both sides of the Atlantic, which means prosperity on both sides of the Atlantic. That was important to us." The agreement excludes steel and aluminium, which will still face higher tariffs of 50 per cent when exported to the US. British exports of the same materials face a reduced tariff of 25 per cent. Bad for Ireland: drugs firms left out of deal This exclusion could prove a major blow to Ireland, which depends heavily on its pharmaceutical exports. "We have to have them made in the US," Mr Trump declared. "We want them made in the US. Pharmaceuticals are very special. "We can't be in a position where we are relying on other countries. Europe is going to make pharmaceuticals, drugs and everything else for us too, a lot, but we are going to make our own." The Irish government has voiced concerns that looming US tariffs could deal a major blow to the country's pharmaceutical sector, which employs around 45,000 people. Ministers are particularly worried about the impact on multinational drug companies based in Ireland, following signals from Washington that the pharmaceutical industry may be the next target in a broader trade clampdown. While the EU's new trade agreement with Donald Trump excluded pharmaceuticals from immediate tariff hikes, the US has made clear that it still plans to address the sector in separate talks. Claus Vistesen, from Pantheon Macroeconomics, stated that the agreed 15 per cent tariff was less severe than many feared, and unlikely to alarm financial markets-but he warned it would still dent both the EU and US economies. "Trump is finding a middle ground," Mr Vistesen commented. "He is still shooting himself in the foot. US consumers will pay higher prices, and growth in trading partners will be lower than it would have otherwise been."
Irish Examiner
3 hours ago
- Irish Examiner
From boycotts to barcodes: How supermarket choices still shape the world
Collective action in the supermarket can influence world events. Dunnes Stores workers boycotted South African oranges in the 1970s. The strike made international headlines and led the Irish government to ban fruit and vegetables from South Africa. Prior to the strike the workers had known little about South Africa, but were persuaded by Nimrod Sejake, a trade unionist from South Africa exiled in Ireland, that South Africa was like a pint of Guinness: A small number of whites at the top and all the black people underneath. People can now take collective action by using apps. Scan a barcode and the app may tell you whether the product you want to buy has been ethically produced. I was recently made aware of a missed scan or misinformation on one of these boycott apps. That gave rise to a question about the country of origin of a citrus fruit and the information contained on the label. It's remarkable how much information can be derived from a small tag or label attached to a net of oranges, and I'm going to use oranges as an example. The shopper had scanned the label on a net of oranges in to an app, which read the label and reported that it was an unrelated product, a bar of chocolate. Because the bar code didn't match the product that had been scanned, the shopper felt there was something nefarious about the oranges, which were labelled as Egyptian. There are two questions: Do the boycott apps work, and can we rely upon the labels in the supermarket? Boycott apps scan a product's bar code and identify the brand, manufacturer, or parent company. Based on this, they tell you whether the product aligns with or violates ethical, political, or environmental criteria. Most of these apps do not have access to a full bar code registry, so they rely on crowdsourcing databases, open-product databases, and public company information. Larger organisations and companies are easier to track than others, particularly when the bar codes are common internationally. For example, a can of popular cola has the same bar code no matter the country. Products that are produced and manufactured specifically for a supermarket are more difficult to track. Some retailers use brand-specific bar codes that only work in their own shop environments and do not transfer elsewhere. I visited five supermarkets belonging to the pillar retail brands in Ireland and examined each individual bar code on citrus fruit. That shopper was right: One specific net of oranges scans as a bar of chocolate from a competitor. However, of all the citrus fruit labels that I examined more than 50% are not contained within the boycott app that the consumer used. Remember, the apps rely on shoppers to upload this data to inform others. What about those labels that say that the product has come from Egypt? I visited many Irish supermarkets and examined more labels on oranges, lemons, and limes than I care to count, and one thing became apparent: All citruses sold in Ireland are clearly labelled with the country of origin. It's actually unsurprising that some of the oranges on our shelves come from Egypt, the fifth-largest producer of citrus fruit in the world and the largest in proximity to Europe — it produces more than Spain. Under EU regulations (No 1169/2011) the country of origin must be placed clearly on the product label. All the labels I examined stated where these citrus fruits had originated, whether it was Egypt or Spain, or beyond Europe and her neighbours, or as far afield as Argentina and Costa Rica. Also, did you know that any treatments applied to your fruit before it makes it to the supermarket shelves are now clearly disclosed on the labels? If you have looked closely at the labels on fruit lately you may have noticed some terms that may not be familiar to you. Thiabendazole, Pyrimethanil, and Imazalil are all fungicides and applied as a dip or a spray after harvest to reduce the growth of mould. You'd be familiar with this mould if you picked up an orange that may have sat in the fruit basket for too long and saw it had developed a green or blue mould and was exceedingly squishy. These fungicides are designed to keep your fruit fresher for longer and are highly regulated by the EU. The final treatment that you may see listed on the label is E904 — commonly known as shellac. Shellac is often used to glaze apples and citrus fruits to give them a shiny appearance and can extend shelf life. Any fruits that have been treated with this glaze are unsuitable for vegans, as shellac is a natural resin secreted by the lac insect. Vegan or not, we should all be washing our fruits before eating or even juicing them. BOYCOTT APPS Boycat and 'No Thanks' [ are the names of two ethical trading apps which many Irish consumers are using to check food producers to see if they are on a boycott list. An organisation may be placed onto a boycott list for being based in a particular country, but also having dubious equality or sustainability credentials. These apps enable consumers to make an informed choice when doing the shopping. Always read the label — and approach the retailer if you have any queries on provenance. If you believe that a retailer or trader has breached consumer law, you can always report your concerns to the CCPC by phoning their National Consumer Helpline on 01 402 5555 or emailing ask@ Read More Remember when a minister held Guinness 'hostage'? And other Irish food stories
RTÉ News
4 hours ago
- RTÉ News
Tariffs aren't good news but it could have been much worse
While the crucial US EU trade deal announced this weekend does bring certainty for businesses, there are significant drawbacks. Fundamentally, tariffs are negative for trade. The US is a significant export market for Ireland, and many sectors now face duties of 15% which did not exist last year. The biggest issue is pharmaceuticals, which are the largest Irish export to the US, valued at €44bn in 2024. In recent months US President Donald Trump had threatened enormous duties on drugs imported by America. He had ordered a national security investigation of the pharmaceutical sector. Last night, Tánaiste Simon Harris said his understanding was that after the investigation concludes the maximum tariff which could be imposed would be 15%. So, while the threat of more damaging duties is averted, pharmaceuticals made in Ireland may well face 15% tariffs in future, up from zero at present. Another key sector for Ireland is the manufacture of computer chips. Like pharmaceuticals it has been subject to a separate investigation by the Trump administration and faced the possibility of punitive tariffs, but it too could face a 15% tariff after the investigation ends. Last night, European Commission President Ursula Von Der Leyen said there was no decision yet regarding spirits exported to the US. This is critically important to Ireland's whiskey industry which has already seen several recent closures. There had been speculation that sector could have been part of a zero-for-zero tariff arrangement, but that is not yet agreed. Another important area for Ireland is aircraft leasing. Ms Von Der Leyen said last night that aviation would be part of a tariff-free arrangement. For other EU countries the massive duty of 27.5% which was imposed on European cars now falls to 15%. Some existing tariffs will be folded into that baseline 15%, meaning it would be an all-in tariff. For example, it is expected to include the existing "most favoured nation" duties of 4.8% which exist currently under World Trade Organization rules. The fact there is a deal at all avoids the threat of a prolonged tit-for-tat trade war. It means businesses can plan, investments can be made, and job-creating projects can proceed. But exporters are already seeking Government support as they navigate the new reality of the Trump administration's tariffs. The EU-US agreement is not a trade deal in the usual sense. Normally these pacts are negotiated over years and culminate in a document running to hundreds of pages. What was announced yesterday was the framework of a deal with much detail yet to be finalised. Yesterday wasn't the end of the negotiations, but it was a milestone.
