Latest news with #GovernmentTradeForum
Irish Examiner
a day ago
- Business
- Irish Examiner
Whiskey, horses, and medtech key areas for tariff side deals in EU-US trade agreement, Cabinet to hear
Hammering out tariff side deals across key areas such as whiskey, thoroughbred horses, and the medtech sector will be the best Ireland can hope for in an EU-US trade agreement, the Tánaiste is expected to tell colleagues on Tuesday. With just a week to go until the negotiation deadline, Simon Harris will tell Cabinet that 10% baseline tariffs in some sectors will pose challenges for the Irish economy and businesses. The Tánaiste will update ministers of a growing belief at an EU level that an agreement can be reached within the narrow timeframe on an outline deal. He will say that any deal will have to be assessed against what exclusions from a baseline 10% tariff can be secured, including scope for zero-for-zero arrangements for key sectors, as well as clarity on the outcome of the Sector 232 investigations — including on pharmaceuticals, semiconductors, and aviation. Last month, Mr Harris wrote to the EU's chief negotiator Maroš Šefčovič, in a bid to have whiskey, thoroughbred horses, and the medtech sector removed from the list of counter-tariff items, as doing so would have a significant impact on Ireland. In a speech to be delivered later on Tuesday at an event marking exactly one year until Ireland takes up the EU presidency, the Tánaiste will say that the ongoing trade talks 'will fundamentally alter the union's relationship with the US'. We remain hopeful of a deal but, whatever the outcome, it is clear tariffs will remain a feature of the geopolitical trading arrangements "Europe has stood tall together, and this has been essential in ensuring we get the best possible outcome. "But there is nobody standing here today that can predict what will happen next week with certainty," he is expected to say. Social housing Mr Harris will chair a meeting of the Government Trade Forum on Wednesday, and will travel to Berlin on Friday to meet with his German counterpart where EU-US trade relations will feature high on the agenda. Meanwhile, housing minister James Browne is to bring a number of memos to Cabinet on Tuesday — including measures to cut red tape for local authorities to construct social housing by simplifying the current four-step approval process into one. Mr Browne will also bring forward the Planning and Development (Amendment) Bill 2025 that will give people, under certain circumstances, an extension of up to three years of their planning permission when facing a judicial review. There were more than 40,000 non-commenced residential units on inactive development sites in Dublin alone at the end of last year, and it is estimated that around 15,000 of these units are due to expire within the next two years. Mr Browne hopes to fast-track this legislation to enact it before the summer.
RTÉ News
19-05-2025
- Business
- RTÉ News
Taoiseach welcomes 'landmark moment' from EU-UK summit
Taoiseach Micheál Martin has welcomed the outcome of the EU-UK summit in London, calling it a "landmark moment". The EU and UK have reached an agreement to reset relations, which the British Prime Minister has claimed will add nearly £9 billion (€10.6bn) to the UK economy by 2040. As part of the agreement, there will be a new sanitary and phytosanitary (SPS) deal on plant and animal products, which will not be time-limited. According to the UK government, "some routine checks on animal and plant products will be removed completely", which will help reduce trade barriers between Northern Ireland and Britain. UK Prime Minister Keir Starmer is hosting European Union chiefs for a landmark summit designed to usher in a closer relationship between Britain and the bloc, five years after Brexit. Mr Martin said the outcomes from the talks deliver on the "shared commitment to reset relations between the EU and the UK". "The UK is an important like-minded partner for the EU, and for Ireland, sharing our values and commitment to multilateralism and the international rules-based system," he said. "It is essential that we work in partnership to address global challenges. "I therefore welcome the conclusion of the defence and security partnership between the EU and the UK at today's summit." He said the agreements "mark a new beginning in a positive and cooperative relationship between the EU and the UK which is essential for the pursuit of many areas of Ireland's national interest and is an important factor for stability in Northern Ireland". The UK's decision to extend fishing rights for the EU fishing sector by another 12 years, "also provides certainty to Ireland's fishermen and women", said Mr Martin. "Overall, a closer working relationship between the European Union and United Kingdom is good for Ireland, and for everyone," he said. Mr Starmer described the deal as a "win-win". "This deal is good for both sides," Mr Starmer told reporters at a joint press conference with EU chiefs Ursula von der Leyen and Antonio Costa following their summit. Meanwhile, Tánaiste Simon Harris said the summit "marks the beginning of an ambitious and productive new phase of EU-UK cooperation". Mr Harris said both parties commitment to enhancing their relationship will deliver "real benefits for people in the UK and the EU alike". The Tánaiste will chair the fifth meeting of the Government Trade Forum this afternoon which will consider the outcome of the EU-UK Summit. Mr Harris will update the forum on trade policy developments, including at the EU-US level, and on his meetings with European Trade Commissioner Maroš Šefčovič and EU trade ministers in Brussels last week. The new list of potential countermeasures in response to recent US tariff decisions will also be discussed.
Irish Examiner
08-05-2025
- Business
- Irish Examiner
EU launches consultation on potential €95bn tariffs on US goods if trade deal falters
Pharmaceutical imports and exports will largely not be included in the proposed €95bn worth of goods to be hit with tariffs by the EU if a deal with the US is not reached. The European Commission has today launched a "public consultation" on a list of US imports which could become subject to EU countermeasures if ongoing EU-US negotiations do not result in "a mutually beneficial outcome and the removal of the US tariffs." The €95bn list does not broadly include pharmaceuticals but does cover a broad range of industrial and agricultural products, including aircraft, which could be damaging to Ryanair, which has ordered a large number of Boeing planes. The list also includes bourbon whiskey, wine, cider, cars, bicycles, boats, smartphones, cattle, soy, olives, and a very limited number of pharmaceuticals. The Commission is also consulting on possible restrictions on certain EU exports of steel scrap and chemical products to the US, worth €4.4bn. A European Commission statement said: "Since the US imposed its unjustified and harmful tariffs, the EU has prioritised finding a mutually beneficial and balanced solution through negotiations, including within the framework of the 90-day partial suspension of tariffs announced by the US. These negotiations are ongoing both at the political and technical level. The EU continues to prepare potential countermeasures to defend its consumers and industry, in parallel with the negotiations and in case these fail to deliver a satisfactory outcome. While the public consultation is a necessary step in this process, it does not automatically result in the adoption of countermeasures. "In parallel, the EU will also launch a WTO dispute against the US on its universal so-called 'reciprocal' tariffs and tariffs on cars and car parts, by formally lodging a request for consultations. It is the unequivocal view of the EU that these tariffs blatantly violate fundamental WTO rules. The EU's objective is thus to reaffirm that internationally agreed rules matter, and that these cannot be unilaterally disregarded by any WTO member, including the US." Commission President Ursula von der Leyen, who is meeting Taoiseach Micheál Martin today, said: 'Tariffs are already having a negative impact on the global economy. The EU remains fully committed to finding negotiated outcomes with the US. We believe there are good deals to be made for the benefit of consumers and businesses on both sides of the Atlantic. At the same time, we continue preparing for all possibilities, and the consultation launched today will help guide us in this necessary work.' EU states will now have four weeks to prepare a response. In a statement, Tánaiste Simon Harris said that the Government "will be analysing the list over the coming days and is committed to engaging with stakeholders, including through the Government Trade Forum". Mr Harris added: 'The Government supported the suspension of the EU's previous package of countermeasures in relation to steel and aluminium. This has helped create important space for negotiations. 'These negotiations remain the main focus for both the EU and Ireland. The Commission is fully engaged in discussions with the US. A negotiated solution remains very clearly the goal and the preferred outcome. I strongly support this position. This is also the message I have been delivering in all my bilateral contacts with both the US and EU partners. 'At the same time, I understand the need for the EU to undertake further internal preparations in case negotiations are unsuccessful. This is a sensible and measured approach. It is really important to stress that these measures will not be implemented immediately. There will be a four week consultation period during which the Commission will be seeking the views of Member States as well as of business and other stakeholders in Europe." Speaking to RTÉ Radio, Public Expenditure Minister Jack Chambers said "the current tariffs are raising costs, are stifling growth, they're fuelling inflation, and they're heightening uncertainty". He said that while Ireland will engage with sectors across the economy if there was an escalation "Ireland and every other EU member state will not be immune to the significant impacts of that". Read More Keir Starmer and Donald Trump to announce UK-US trade deal
Irish Independent
08-05-2025
- Business
- Irish Independent
Pharma to escape EU tariffs worth €95bn as US aircraft and whiskey will potentially be hit
But there could still be a sting in the tail for Ireland, as whiskey and thoroughbred horses are on the proposed list, which might lead to further US retaliation, should they be imposed. There is a further potential problem for major employers Ryanair, with tariffs proposed against Boeing, with whom the airline has a pipeline of orders worth €30 billion through to 2034. EU officials stressed at the Berlaymont in Brussels today that this is a "proportionate" response to US President Donald Trump's so-called Liberation Day tariffs against the EU, which total nearly €380 billion – and is in fact barely more than a quarter of that burden. But they stress that all options remain on the table, including impositions on services, which could hit big tech, social media and streaming platforms. Tánaiste Simon Harris said in response to the announcement: 'The Government supported the suspension of the EU's previous package of countermeasures in relation to steel and aluminium. This has helped create important space for negotiations. 'These negotiations remain the main focus for both the EU and Ireland. The Commission is fully engaged in discussions with the US. A negotiated solution remains very clearly the goal and the preferred outcome. 'I strongly support this position. This is also the message I have been delivering in all my bilateral contacts with both the US and EU partners.' At the same time, he added: 'I understand the need for the EU to undertake further internal preparations in case negotiations are unsuccessful. This is a sensible and measured approach. 'It is really important to stress that these measures will not be implemented immediately. There will be a four week consultation period during which the Commission will be seeking the views of Member States as well as of business and other stakeholders in Europe. 'The proposed package is valued at around €95-€100 billion and covers a range of sectors. The list has just been published and we will be analysing it over the coming days. 'I am committed to working with stakeholder, including through the Government Trade Forum to understand the potential impact of these countermeasures on Ireland. As we have done in the past, we will communicate Irish specific concerns to the Commission.' Mr Harris said: 'I remain in close contact with Commissioner Sefcovic. I will also be continuing my outreach both with the US and with EU colleagues and I am planning to speak with key partners in the days ahead." Today's tariffs may not be imposed at all - the aim is for a "mutually advantageous negotiated settlement," officials stressed, even as the UK looks set to announce a tariff deal with the United States today. The EU is "not pursuing a dollar for dollar approach," yet the countermeasures -- which will now go out to EU members and stakeholders for consultations – hit a wide range of industries and products. There are €10.5 billion tariffs on US aircraft, with processed food, vegetables and fish products hit, which could have implications for Irish Agrifood later, although the application from the EU side here is limited. The bulk of impositions will go on industrials – including chemicals, automotive (cars and car parts), engines, electrical equipment, machinery and appliances. Taoiseach Micheál Martin, who met European Commission President Ursula von der Leyen, will be happy that most of Ireland's wish-list has been met, although there are hits to Kentucky bourbon in response to US 25pc tariffs on EU wines and spirits, currently suspended for 90 days. The €7.2bn tariffs on electrical equipment will hit many devices, screens and monitors, radar, satellite navigation systems and even jukeboxes. "We want to protect the very important pharmaceutical sector," said an EU official in a press briefing, adding however, that some US healthcare products were on the list, such as syringes. In all, €1.3 billion of US alcohol is targeted, but this is a tiny proportion of the overall €95 billion, amounting to less than 2pc – and limiting American scope for response, given its attack on EU alcohol already. There will also be some export restrictions introduced, if member states agree and there is no transatlantic trade deal, which would stifle some areas of the US economy. The EU said it was concerned to achieve rebalancing of trade, and there was currently "asymmetry" because of the extent of US impositions, paused for now. It was not a matter of retaliation, they said, but of "being prepared for all scenarios". Litigation against the United States at World Trade Organisation (WTO) level is simultaneously taking place, but this is expected to wither on the vine if trade talks produce a disengagement from Trump's tariff wars and an equitable trading environment. EU Trade Commissioner Maros Sefcovic is already in touch with US colleagues and both sides probe for an understanding. On April 2 last, President Trump announced tariffs for EU goods set at 20pc. The US also imposed a tariff of 25pc on all imports of vehicles and car parts. These were announced in addition to 25pc tariffs on imports of steel, aluminium, and derivative products the US previously put forward in February. President von der Leyen responded by announcing the preparation of EU countermeasures against the US, if negotiations to remove these tariffs should fail. On April 9, the US announced a 90-day pause of the EU-specific 20pc tariff, leaving in force a 10pc tariff. In response to this pause, on April 14, the EU responded by putting on hold planned countermeasures against US tariffs on EU steel and aluminium imports, "to allow space for negotiations'. Currently, €379 billion of EU exports to the US (or 70pc of EU exports to the US) are subject to new tariffs (including tariffs put on pause) since the second Trump administration took office. "Already, the US tariffs are raising costs for business, stifling growth, fuelling inflation and heightening economic uncertainty," the EU Commission said as it announced its potential countermeasures today.
Agriland
28-04-2025
- Business
- Agriland
Heydon updates Government Trade Forum on US visit
The Minister for Agriculture, Food and the Marine Martin Heydon has today (Monday, April 28) updated the Government Trade Forum about his recent trade mission to the United States. During the trade mission, the minister met with a number of key US political representatives, including Brooke Rollins, secretary of the US Department of Agriculture (USDA). The Tánaiste, Simon Harris chaired the fourth meeting of the Government Trade Forum today. The Irish Farmers' Association (IFA), Bord Bia, and other key industry stakeholders attended the meeting. According to the Tánaiste, there has been 'significant developments' with US tariff policy and the EU's response since the forum last met on April 4. The Tánaiste also updated the forum on his ongoing 'close' contact with EU colleagues, and his meeting with the US commerce secretary, Howard Lutnick in Washington DC on April 9. Speaking after the meeting, the Tánaiste said: 'As we know the US announced the suspension of the higher tariffs signalled on April 2 for a period of 90 days. However, the global 'baseline tariff' of 10% and sector specific tariffs on steel and aluminium and the automotive sector would remain. 'The government welcomes this move by the US. We equally welcome that European Commission president von der Leyen has confirmed that EU counter measures would be put on hold for 90 days. 'Ireland's consistent position remains that we need to get into a substantive, calm, measured and comprehensive dialogue with the United States. This is also position of the EU,' he added. Government Trade Forum The government forum also presented an opportunity to look ahead to the upcoming EU-UK summit on May 19. Harris said he believes that there 'is scope' for the EU and the UK to look at improving the trade relationship, and removing barriers to trade. He said: 'The forum had an initial discussion on the Government's Action Plan on Market Diversification. 'The plan is a key part of the government response to current market turbulence, and is assessing the supports available for Irish businesses to diversify their market outlets and supply chains. It will be completed within the next six weeks.'
