Spending slash planned for Budget 2026 over looming 30% US tariffs threat amid ‘significant job losses in Ireland' fears
The
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The Government will cut spending in Budget 2026 due to Trump's tariffs
Credit: Getty Images - Getty
But on Saturday, Trump
Tanaiste
The EU plans retaliatory tariffs that will be imposed on American goods if the taxes do go ahead.
An all-out EU-US trade war
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And the Public Expenditure Minister, Jack Chambers, warned a 30 per cent tariff could result in significant
He said the Government will have to cut back on spending in the
The
"It would have a severe impact on growth, it could result in significant job losses and would really disrupt the international trading environment upon which the Irish economy is built.
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'That is a significant risk in the context of budgetary planning, and that's why fiscal restraint will be really important, particularly as we plan for Budget 2026.
'Within that, we need to see a moderation of current expenditure and also, we need to significantly address the infrastructure deficit.'
President Trump previously claimed there is a major trade imbalance between the States and the EU and he wants more
'Trump's new tariffs are outrageous', slams EU lawmaker after Don slaps 30% on Brussels & it readies to fight back
In a letter to European Commission President Ursula von der Leyen, Trump warned Europe not to respond with tariffs of their own or he would hit back once again by jacking up his taxes.
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He said: 'The European Union will allow complete, open market access to the United States, with no tariffs being charged to us, in an attempt to reduce the large trade deficit.
'If for any reason you decide to raise your tariffs and retaliate, then, whatever the number you chose to raise them by, will be added onto the 30 per cent that we charge."
PREFERENCE IS CLEAR
Taoiseach
He said last week: 'While it has been clear that all options remain on the table, the EU has also been clear that our preference is for a negotiated solution that avoids escalation. That remains the case.
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'I hope that negotiations will continue in the weeks ahead and that they will be successful.
'The EU and the US should be partners, not rivals. In a true partnership, everyone wins.
'The EU negotiators continue to have my full support in this important work."
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Jack Chambers warned a 30 per cent tariff could result in significant job losses
Credit: Brian Lawless/PA Wire
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