Latest news with #ThomasByrne
Irish Independent
2 days ago
- Business
- Irish Independent
The week ahead in business: Gabriel Makhlouf before Oireachtas committee, Central Bank report on financial stability, and CSO Live Register figures
It's far more likely, of course, that politicians will pursue him on the Central Bank's role in authorising the sale of Israeli bonds. There may also be questions about his recent remark that the Government should 'take stock' before making any further interventions in the housing market, as he wondered if they were all 'mutually supportive'. Also on Wednesday, the Central Bank will publish its latest Financial Stability Review, a twice-yearly report that evaluates the main risks facing the financial system, and assesses our resilience in the face of those risks. Tomorrow, the Fiscal Advisory Council will publish its assessment of the economic situation, looking at the impact of on-off tariffs as well as the state of the public finances. The independent watchdog will no doubt run its rule over the Government's annual progress report, published at the start of last month. Staying with tariffs, and tomorrow marks the end of the European Commission's public consultation on what products should be hit by counter-measures to US president Donald Trump's levies if negotiations between the EU and US fail to agree on terms. On Wednesday, the Institute of International and European Affairs is hosting an event on European security, and specifically the EU White Paper on Defence. The keynote address will be given by Thomas Byrne, junior minister for European affairs. A panel discussion on the issue will feature Professor Brigid Laffan, and it will be moderated by Catherine Day, a former secretary-general of the European Commission. The Central Statistics Office will have Live Register figures today, but its most interesting release this week comes tomorrow, when it will have an update on how much electricity is being used by data centres. They currently consume one-fifth of Ireland's power supply, but that proportion is projected to rise to one-third in the next few years.
BreakingNews.ie
25-05-2025
- Business
- BreakingNews.ie
A 50% tariff on EU goods would halt trade between the bloc and US, says minister
US president Donald Trump's threatened 50 per cent tariff on EU imports would effectively halt trade between the United States and European Union, a Government minister has warned. Minister of State for European Affairs Thomas Byrne said it was really important for EU member states and the European Commission to remain calm and measured in response to president Trump's warning and not react to 'every single utterance of provocation'. Advertisement In April, Mr Trump announced a 20 per cent tariff on EU goods being sold into the US. He later reduced that to 10 per cent until July 8th to allow for time for talks with Brussels on a potential agreement. Taoiseach Micheál Martin holding a bilateral meeting with US president Donald Trump at the White House in March (Niall Carson/PA) However, on Friday Mr Trump claimed the talks were 'going nowhere' and said he was recommending that the 50 per cent tariff rate comes into effect on June 1st. The US president also announced he would be imposing a 25 per cent tariff on all Apple iPhones manufactured outside the US. He warned that tariffs were also coming for other foreign manufactured smartphones. Mr Byrne said the EU was in a 'position of strength' in the negotiations with the US as he urged the European Commission to 'stand firm' and secure a good deal with the US on trade. Advertisement The Fianna Fáil minister said the president's threat was 'clearly very concerning'. 'I think it would be very damaging for everybody,' he told RTÉ Radio One's This Week programme. 'I think it wouldn't just be a 50 per cent tariff, I think it would effectively stop trade if that were the case, because I don't think people would be willing to buy goods at a 50 per cent tariff and, of course, there would be EU retaliatory measures. 'But, in the meantime, I think it's really important to note that president Trump hasn't actually implemented this, and there are talks going on between the European Union and the US. 'I think it's really, really important that we stay calm, we stay measured, we don't react to every single utterance of provocation. Advertisement 'And I think that that has served us well up to now and, in fact, has served other countries well, who have also got in the crosshairs (of President Trump). 'It's just so important for us, and it's important for the entire European Union as well. I think we are there with a really united approach – we're bigger in population than the US, we're a very important trading partner to the US, their systems could not work, their supply of goods could not work without what's coming in from the European Union, and vice versa, to some extent as well. 'So I think we have a position of strength. We have to use that in the negotiations but ultimately know that trade at low or no tariffs benefits everybody.' Mr Byrne rejects claims from the US administration that EU proposals on a trade deal were not of the quality of measures suggested by other international trading partners. Advertisement 'The European Commission, which acts on behalf of all of us, is engaged on trade issues all the time, they're experts at trade,' he said. 'They're dealing obviously with changes in the temperature, to say the least, in the US administration's approach, based on what president Trump has tweeted. That presents a difficulty, I think, for anybody. 'But I think that the Commission is doing a good job. They have to stand firm for us. But they know the importance of free traded goods, and they also know that this is critical for America. 'We saw the whole issue with China in recent weeks, where crippling tariffs were put in, which basically was stopping trading in total between the two countries, and they were reduced. Advertisement 'So I think that we need a bit of strategic patience.' The minister added: 'We just have to deal with what we're faced with, and this is what we're faced with. There is an unpredictability in the relationship. There's no question about that. 'It's in all our interests to make that as predictable as possible. So, we don't want to add fuel to the fire. We want to have low or no tariffs. 'And I think, ultimately, America would want that too, because they know how dependent they are for semiconductors, for pharma, and they can't change that overnight simply with a tariff instrument. It's not possible to do that.'
Irish Times
06-05-2025
- Business
- Irish Times
Cutting red-tape and making business simpler is critical, says Minister
Cutting red-tape, making business simpler, and addressing the regulatory burdens faced by small and medium businesses, will be critical to delivering prosperity for citizens, Minister of State Thomas Byrne has sasid. Speaking at the Global Ireland conference in Dublin on Tuesday he said Ireland expected to make a substantial contribution to the competitiveness agenda during its presidency of the Council of the European Union next year. Mr Byrne, who is Minister of State for European Affairs and Defence, said enhancing European competitiveness would be 'a major focus of work at EU level in the time ahead'. 'With our European partners, we will work to close the innovation gap.' READ MORE 'We have been engaging intensively on the new commission's proposals, which build on the analysis, in the Letta and Draghi reports.' 'We also consider a properly functioning single market, particularly for services, to be fundamental to Europe's long-term competitiveness.' Mr Byrne said a central aspect of Ireland's work, during it European Union (EU) presidency from July 2026 would relate to the negotiation of the next multiannual financial framework. 'In preparing that budgetary framework, the EU will be setting out an ambitious collective agenda, for how we want to develop Europe for the next decade.' 'We know that EU member states want a multiannual financial framework that reflects the needs of citizens, maintains continuity and predictability, and delivers on the overall ambition of fostering a competitive and secure Europe.' 'Ireland will play our role in steering negotiations towards that objective.' 100 days of Trump: 'It's like The Karate Kid, tax on, tax off, tariffs on, tariffs off' Listen | 42:49 Tánaiste and Minister for Foreign Affairs and Trade Simon Harris told the same conference that the Government had started developing a detailed action plan for trade diversification in light of current challenges. He said this would 'seek to identify new opportunities and alternative markets for Irish goods, working closely with our embassies and state bodies abroad'. 'This will be accompanied by a sustained focus on competitiveness, supporting efforts at EU level, and also driving competitiveness domestically in support of Irish businesses, investment in Ireland, jobs and our continued prosperity.' Mr Harris said the most pressing risks to the Irish economy were 'external in nature'. He said these included risks related to increased trade protectionism and weaker than expected demand in our main trading partners. 'This has been a tumultuous period for those engaged in international trade arising from the actions of the US administration.' Mr Harris said the US-Ireland economic relationship benefited people, on both sides of the Atlantic, creating good jobs, strong communities, and stability and prosperity more generally. He said there was 'no justification for tariffs imposed by the US administration on its trading partners, including EU exports'. 'Tariffs are counterproductive; they drive inflation and hurt consumers on all sides.' 'We want trade issues to be resolved through substantive, calm, measured dialogue with the United States.' 'All sides need to engage in good faith because uncertainty and turmoil is not the way forward.' He said EU unity was crucial on this issue but people had underestimated the capability of European Union member states to stand together in previous crises such as in relation to Brexit, Covid and Ukraine. 'The Irish Government strongly supports the approach being pursued by European Commission President von der Leyen and the Trade Commissioner Maroš Šefčovič', he said.
Irish Post
01-05-2025
- Politics
- Irish Post
Ireland helps fund underground school shelter in Ukraine
THE Irish Government has helped fund a new underground school shelter for children in Ukraine. Opened this week, the state-of-the-art facility will provide a safe learning environment for 700 students. Constructed in less than a year, the bomb shelter will serve as an underground school, cultural centre, and youth hub. The €2.4m project is a collaboration between the European Union (EU) and the Republic of Lithuania, which has been co-financed by the Irish Government. The underground school shelter is now in. use in Odesa, Ukraine Ireland's EU Affairs Minister Thomas Byrne was on hand to help open the new shelter in Odesa, which he explained has become 'a necessity' in the embattled region in its ongoing conflict with Russia. 'The right to an education is something which we in Ireland, very much cherish,' Minister Byrne said. 'Our progress as a nation stems from our want for education and its enjoyment. 'But it is only when a child feels safe, that their mind is free to learn and absorb, the teachings on offer to them,' he added. 'That is why Ireland is proud to join, with Lithuania and the European Commission, in supporting the people of this region with this new school underground shelter. 'Of course, it is an outrage that we even need to build underground shelters for school children, in Ukraine.' Minister Thomas Byrne was in Ukraine for the opening of the shelter He explained: 'Underground shelters have become a necessity, as a direct result of the illegal and unjustified full-scale invasion, launched by Russia. 'Russia's appalling aggression has had a particularly severe impact on Ukrainian children. 'It is paramount that children are kept protected and safe. 'Ireland's support in the construction of this impressive structure is designed to ensure that children in Odesa can be kept safe, and like any Irish child, enjoy the right to an education, despite the conflict.' Since February 2022, Ireland has welcomed more than 115,000 Ukrainians, who were forced to flee their homes due to the war. Minister Byrne reiterated the nation's ongoing support for Ukraine while in Odesa. 'Ukraine does not stand alone in this conflict,' he said. 'Ireland, along with our European partners, remain steadfast in our support for the Ukrainian people, for the sovereignty and territorial integrity of Ukraine, and for Ukraine's EU path,' he added. 'We are committed to standing with Ukraine, and we will continue to support you, for as long as it takes.' See More: Conflict, Ireland, Russia, School Shelter, Ukraine
Irish Post
29-04-2025
- Business
- Irish Post
Ireland's EU Affairs Minister welcomed in London for talks on ‘deepening collaboration' between islands
IRELAND'S Minister for EU Affairs Thomas Byrne has met with his British counterparts in London to discuss 'shared priorities' between the two islands. Mr Byrne was in the city to meet with Minister for the Cabinet Office, Nick Thomas-Symonds, and Minister of State for Europe, North America and Overseas Territories Stephen Doughty. He said the meetings, which took place at the Foreign, Commonwealth & Development Office, were 'vital'. Minister Byrne met with Minister for the Cabinet Office, Nick Thomas-Symonds 'I consider the UK to be a vital partner for Ireland in addressing many of our key priorities,' he said. 'My meetings with Minister Thomas-Symonds and Minister Doughty provided a welcome opportunity to address our shared priorities and discuss ways in which we can deepen our cooperation.' Following their meeting, Minister Doughty confirmed that the 'unique partnership' between Britain and Ireland remains a priority for the British Government. Mr Thomas Byrne was in London to meet with Minister of State for Europe, North America and Overseas Territories Stephen Doughty 'The UK and Ireland are the closest of neighbours with a unique partnership,' he said adding that it was 'a huge pleasure to welcome our friend Minister Byrne to London'. Mr Doughty confirmed they discussed 'deepening our work together, unlocking growth opportunities across our islands and strengthening European security'. Mr Thomas-Symonds reiterated that sentiment, stating: 'It was great to meet Ireland's Minister for European Affairs Thomas Byrne. "We discussed the upcoming UK-EU Summit and what more we can do to maintain the strong ties between our countries."
