logo
US President Donald Trump announces 30 per cent tariffs on imports from EU starting in weeks

US President Donald Trump announces 30 per cent tariffs on imports from EU starting in weeks

The Irish Sun3 days ago
DONALD Trump has imposed a 30 per cent tariff on imports from Mexico and the European Union - and it's due to come into effect NEXT MONTH.
The shock decision comes after weeks of negotiations with the prime trading allies failed to reach a more comprehensive trade agreement with the United States of America President
Advertisement
The fresh tariffs were announced in separate letters on his Truth Social platform, revealing that the tariffs will come into effect on August 1.
The EU tariff is also reported to be significantly higher than the 20 per cent that Donald Trump announced in April, while negotiations with the bloc are still ongoing.
1
US President Donald Trump has announced new tariffs on imports from the EU
Credit: Getty Images - Getty
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Moscow rejects ‘enormous' and ‘indecent' western pressure over Ukraine
Moscow rejects ‘enormous' and ‘indecent' western pressure over Ukraine

Irish Times

time34 minutes ago

  • Irish Times

Moscow rejects ‘enormous' and ‘indecent' western pressure over Ukraine

Moscow has rejected western 'ultimatums' and accused the European Union and Nato of putting 'indecent' pressure on US president Donald Trump, after he agreed a new deal on arms for Ukraine and gave Russia 50 days to reach peace with Kyiv or face 'severe' tariffs on trade. 'It is clear that he is under enormous – I would say indecent – pressure from the European Union and the current Nato leadership, which unceremoniously supports the demands of [Ukraine] and continues to pump [it] full of modern weapons, including offensive ones,' Russian foreign minister Sergei Lavrov said on Tuesday in China. He also noted that Mr Trump previously pledged to end Europe's biggest war since 1945 in one day, and that his administration aimed for a significant breakthrough in peace efforts by the time he marked 100 days in office in April. 'We want to understand what is behind this statement: 50 days. It used to be 24 hours. And 100 days. We have been through all this before and really want to understand what is motivating the US president,' Mr Lavrov said. READ MORE Mr Trump said on Monday he was 'very, very unhappy' with Russian president Vladimir Putin after several conservations that he thought had brought peace within reach. Later, he told the BBC he was 'disappointed in him, but I'm not done with him'. Russia and countries that buy its oil would face 100 per cent tariffs unless Mr Putin reached a peace deal with Ukraine in 50 days, Mr Trump said, while also announcing plans to sell 'billions' of dollars' worth of weaponry to Nato for subsequent delivery to Kyiv. 'Above all, we note that any attempts to make demands, especially ultimatums, are unacceptable to us,' said Russian deputy foreign minister Sergei Ryabkov. 'We need to focus on political and diplomatic work. The president of the Russian Federation has said repeatedly that we are ready to negotiate and the diplomatic path is preferable for us,' he added. 'However, if this is not met with a proper response, if we cannot reach our set goals through diplomacy, then the special military operation will continue ... We would like Washington and Nato in general to treat this with the utmost seriousness.' Russia calls its full-scale invasion of pro-western Ukraine a 'special military operation', and says it will go on until Kyiv and the West accept its occupation of five regions of Ukraine and the country abandons its ambition to join Nato. 'The US president's statements are very serious. Some of them are addressed personally to President Putin. We will certainly need time to analyse the rhetoric from Washington,' said Kremlin spokesman Dmitry Peskov. He also said the new US-Nato deal on arms for Kyiv was 'taken by the Ukrainian side not as a signal for peace but as a signal to prolong the war.' Dmitry Medvedev, a former president of Russia who is now deputy chairman of its security council, gave a typically blunt response to Mr Trump's announcement: 'Trump issued a theatrical ultimatum to the Kremlin. The world shuddered, expecting the consequences. Belligerent Europe was disappointed. Russia didn't care.' Some politicians and commentators in Ukraine questioned why Mr Trump gave Russia another 50 days to keep bombarding the country before imposing tariffs, but Ukrainian president Volodymyr Zelenskiy thanked him for his 'willingness to support Ukraine and to continue working together to stop the killings and establish a lasting and just peace.' Ukrainian prime minister Denys Shmyhal resigned on Tuesday as part of a government reshuffle. He is tipped to become defence minister and to be replaced as premier by the current economy minister, Yulia Svyrydenko.

Taoiseach acknowledges prices are 'elevated' - and gets told to 'wake-up' to the cost of living
Taoiseach acknowledges prices are 'elevated' - and gets told to 'wake-up' to the cost of living

The Journal

time37 minutes ago

  • The Journal

Taoiseach acknowledges prices are 'elevated' - and gets told to 'wake-up' to the cost of living

PRICES 'ARE AT a relatively elevated level', Taoiseach Micheál Martin acknowledged today during Leaders' Questions which was dominated by a debate on the cost-of-living. Government ministers have repeatedly ruled out any repeat of one-off cost-of-living measures in October's budget, with Martin stating today that there has to be a 'degree of caution' with spending, given the US tariff threats. The Taoiseach also pointed out that inflation has fallen since its peak around the time of the outbreak of war in Ukraine. Sinn Féin leader Mary Lou McDonald criticised the Taoiseach telling him 'what you're entirely missing is the fact that prices have not followed suit, and anybody who goes into a supermarket or a shopper who opens up their bill can tell you that we are in a place where households are still struggling'. She said told the Taoiseach that the government's record in the last five months has seen home heating oil prices up by €25, with petrol and diesel prices also gone up in May and again in October. Advertisement The government has shown no sensitivity to the realities of struggling households and workers, said McDonald. 'I am simply asking you to please wake up and become aware of the realities of people's lives. People need these supports,' she said. October's budget Martin said there would be supports in the Budget dealing with cost-of-living and food inflation. 'This government did an awful lot. We did more than any other European Government, actually, in terms of cushioning and trying to reduce the impact on people, and we continue to do that.' In April, the Government decided to extend the VAT reduction to 9% on gas and electricity, he said. 'This measure will save households €70 for gas and €55 for electricity. 'From September onwards, there will be a significant increase in the number of people who qualify for the fuel allowance. Related Reads Opinion: Want to curb rising grocery prices? Force supermarket chains to publish their accounts More than one in six households can't afford a one-week holiday with their children Why has the cost of a block of butter risen so much since last year? 'And since the first of June, women can receive HRT free of charge. At the beginning of June, the Carers Support Grant increased to €2,000. That's the highest level ever, and that benefits some 138,000 carers,' said Martin. McDonald said 'people are being fleeced'. 'For one thing, households in Ireland are paying 30pc more on their electricity bills each year than the EU average. That's nearly €350 more. 'The ESRI says that it is difficult to explain why electricity prices here are so far above other countries. People are being taken for a ride,' she added. The ESRI told an Oireachtas committee today that it is 'challenging' to explain why electricity prices in Ireland are a lot higher than other EU countries. Readers like you are keeping these stories free for everyone... A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation. Learn More Support The Journal

Apple's €14bn escrow account wound down
Apple's €14bn escrow account wound down

Irish Times

timean hour ago

  • Irish Times

Apple's €14bn escrow account wound down

The Apple escrow account has been closed, resulting in the transfer of almost €14.25 billion to the exchequer, the Department of Finance has revealed. The value of the assets held in the account increased by €470 million in the 16 months in advance of its closure in May, having already grown by €400 million during the preceding year. This left the total value of the funds at €14.244 billion – slightly less than the €14.3 billion originally lodged by Apple in 2018 after the Court of Justice of the European Union (ECJ) found that the group had received illegal state aid from Ireland. The financial assets had depreciated in value for five successive years before recording their first gain in 2023 as a result of higher interest rates and investment in assets with higher yields. READ MORE The final accounts, just published by the Department of Finance, show that the Ireland Apple Escrow Fund increased in value by €475 million in the 16 months before its closure, resulting in a €470 million profit after operating expenses. Following the closure of the fund on May 16, €1.567 billion was transferred directly to State coffers, while €12.677 billion was paid to the Revenue Commissioners for onward transfer to the Exchequer. Apple had originally transferred €14.3 billion to the escrow account in 2018 pending its appeal against a European Commission decision, which found that the tech giant owed Ireland €13.1 billion plus interest of €1.2 billion. The figure amounted to the tax the multinational previously had not paid on profits, due to a favourable tax arrangement that existed for its Irish subsidiaries over several years. Last September, the ECJ delivered its final verdict in the long-running tax case, ruling against Apple's latest bid to overturn the Commission's decision. Its ruling 'set aside' a ruling by the EU's second-highest court, the General Court, four years ago, which had quashed the commission's decision that Apple owed the Republic the back taxes. The long-running dispute was the world's largest antitrust case to date.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store