‘No upside for Ireland' in US-EU trade deal
US President Donald Trump met with European Commission President Ursula von der Leyen for announced the agreement following talks yesterday (Sunday, July 27) during Trump's visit to Scotland.
The agreeement will see a baseline tariff applied of 15% applied to EU goods entering the US.
Trade
MEP Mullooly said that the trade deal imposes permanent tariffs on Irish exports to the US and deals a major blow to Ireland's agri-food and beverage sectors.
'By any stretch of the imagination, this is not a good deal for Ireland.
'It's a damaging agreement for our exporters, and it appears EU leadership has simply capitulated to the US on this issue, ' he said.
The Midlands North-West MEP was also critical of the Irish government's response to the agreement.
'I'm not sure how the Irish government could call this a good deal: it's certainly not for Irish companies – now facing 15% tariff hikes.
'We are still facing ongoing uncertainty. The nightmare of instability continues for distillers. [President] Von der Leyen has admitted that there is still no deal, at least not until the next round of negotiations.
'This means the uncertainty is far from over for companies like Drumshanbo Gin, Tullamore Dew, and dozens of others. When will it end?,' he added.
Ireland
The MEP claimed that Ireland, as the most export-dependent economy in the EU, stands to lose more than any other member state under the terms of the new deal.
He said the tariffs will affect approximately €1.9 billion worth of Irish agri-food and beverage exports, with an estimated annual impact of €285 million.
'This agreement leaves our producers less competitive in the US market. These are not theoretical numbers – this is real money lost from Irish businesses, rural communities, and jobs,' Mullooly said.
The MEP said he will be writing to both the Irish government and the EU Commission to demand urgent support, including:
A financial rescue package for industries most affected by the new tariffs
Increased promotional budgets, both at national and EU level, to help Irish producers retain market share in the US
'We cannot allow key Irish industries, dairy, prepared foods, beef, and seafood-to absorb this shock unaided. They need a safety net and a strategy.
'The government and the EU must step up without delay,' Mullooly said.
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