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RTÉ News
10 hours ago
- Business
- RTÉ News
EU-US deal will stabilise transatlantic trade, says Gill
The tariff deal between the EU and the US will secure, stabilise and grow transatlantic trade and investment relations, the European Commission's Spokesperson on Trade has said. Olof Gill said both sides are "working very hard" to get the details of the agreement signed. Speaking on RTÉ's Morning Ireland, he said the 15% tariffs was not the outcome either the EU or the US wanted, but said "what we have now is something that gives us stability. It gives us clarity. It gives us predictability, which is what businesses want above all". Mr Gill said tariff "should kick in fairly soon," but could not give a precise date. "That is the intention of the US, the 15%. So that does provide a degree of stability immediately and predictability for businesses." Mr Gill said that in relation to agriculture and that Northern Ireland and the Republic have two different tariffs applied to their goods, details "can be worked out. "We're at the we're not at the end of the process here at the start of the process", he said. Meanwhile, Minister for Enterprise, Tourism and Employment Peter Burke is to update the Cabinet on details of the EU-US trade deal. Mr Burke will outline some of the carve-outs or exclusions Ireland had campaigned for as part of the negotiations, including a zero-for zero-arrangement on aviation. He will also set out the supports that are available from Enterprise Ireland for businesses impacted by the 15% tariff on most goods exported to the US. The supports include a new market research grant of up to €35,000 available from next month. It will be available to companies to assess the impact of tariffs and other trade measures and to develop measures which will address pricing, supply chain and cost challenges. The minister is also set to update his colleagues on the views and concerns of the IDA and key business voices as a result of the trade deal, as the work continues on working out the finer details of the framework deal. Tánaiste to convene Trade Forum meeting on EU-US deal Tánaiste and Minister for Foreign Affairs and Trade Simon Harris is to convene a meeting of the Government Trade Forum on Friday to provide an update on the trade deal between the EU and US. The group is comprised of State agencies, business groups, unions and senior ministers. Mr Harris will use the forum to give an update on the latest analysis of the agreement and its implications. The meeting will also provide an opportunity for the Tánaiste to hear from stakeholders. Mr Harris said: "As we continue to analyse the full implications of the deal over the coming days, the Trade Forum meeting on Friday will be a timely opportunity to share and gain insights on what this deal will mean for the future of Irish businesses, jobs, and the economy." "Whilst the agreement between the EU and the US is welcome, we know that the imposition of any tariffs will have implications and that now is the time to intensify efforts to find and secure more markets for Irish businesses and Irish jobs," he added. The Tánaiste is also set to update the forum on other issues including plans to accelerate the passage of the Arbitration (Amendment) Bill 2025, which will allow for the ratification of the EU-Canada trade deal, known as CETA. It follows the Oireachtas Committee on Foreign Affairs and Trade's decision to waive pre-legislative scrutiny of the bill following a request from Mr Harris. An update will also be provided on the decision to defer the implementation of alcohol labelling following concerns raised at the trade forum around the potential of the labelling to impact competitiveness.
RTÉ News
21 hours ago
- Business
- RTÉ News
Tánaiste to convene Trade Forum meeting on EU-US deal
The Tánaiste and Minister for Foreign Affairs and Trade Simon Harris is to convene a meeting of the Government Trade Forum on Friday to provide an update on the trade deal between the EU and US. The group is comprised of State agencies, business groups, unions and senior ministers. Mr Harris will use the forum to give an update on the latest analysis of the agreement and its implications. The meeting will also provide an opportunity for the Tánaiste to hear from stakeholders. Mr Harris said: "As we continue to analyse the full implications of the deal over the coming days, the Trade Forum meeting on Friday will be a timely opportunity to share and gain insights on what this deal will mean for the future of Irish businesses, jobs, and the economy." "Whilst the agreement between the EU and the US is welcome, we know that the imposition of any tariffs will have implications and that now is the time to intensify efforts to find and secure more markets for Irish businesses and Irish jobs," he added. The Tánaiste is also set to update the forum on other issues including plans to accelerate the passage of the Arbitration (Amendment) Bill 2025, which will allow for the ratification of the EU-Canada trade deal, known as CETA. It follows the Oireachtas Foreign Affairs and Trade Committee's decision to waive pre-legislative scrutiny of the bill following a request from the Tánaiste. An update will also be provided on the decision to defer the implementation of alcohol labelling following concerns raised at the trade forum around the potential of the labelling to impact competitiveness.
The Independent
25-03-2025
- Business
- The Independent
Harris holds call with ‘tax scam' critic in US administration
Ireland's deputy premier has held a phone call with the US Secretary of Commerce, a major critic of the trade imbalance between the two countries. Simon Harris described the call with Secretary Howard Lutnick as a 'useful opportunity to exchange views'. Mr Lutnick has previously described Ireland as his favourite 'tax scam'. He has also said on social media that it is 'nonsense that Ireland of all places runs a trade surplus at our expense'. The call came amid heightened anxiety about the impact of an escalating tariff dispute between the EU and US. There is concern in Ireland that the new US administration's protectionist approach could pose a risk to an Irish economy which is significantly sustained by long-standing investment from US multinationals. Speaking on the All-In Podcast last week, Mr Lutnick said: 'We're going to try and fix a whole bunch of these tax scams. 'Ireland is my favourite.' He added: 'What do they do? 'Oh, they have all of our (intellectual property) for all our great tech companies and great pharma companies. 'They all put it there because its low tax. 'They don't pay us, they pay them. 'So that is going to end. ' In a statement after Monday's late-night call, Mr Harris said: 'I look forward to further conversations in the time ahead.' The Irish Minister for Foreign Affairs and Trade added: 'We greatly value the economic links between Ireland and the US and the EU and the US.' The Irish Government believes it is highly likely that US President Donald Trump will proceed with further tariffs on the EU on April 2. The EU has delayed until mid-April its countermeasures to the Trump administration's increase in tariffs on all steel and aluminium imports to 25% – which was introduced earlier this month. Europe had intended to implement measures on goods from the US worth some 26 billion euro (£21.5 billion) in two phases, on April 1 and April 13. The tariffs, now delayed until mid-April, were to include steel and aluminium, as well as goods such as bourbon. Mr Trump had announced plans to impose further reciprocal tariffs on April 2. In the Irish context, Mr Harris had previously said that it would 'make sense' for the EU to review the rationale behind which items it had chosen on its countermeasures list. Ireland's Government regards the threat of the US responding by imposing a tariff on alcoholic drinks from the EU as a 'very serious issue', as the Irish drinks sector could be massively impacted by such an escalation. Mr Harris convened a sitting of the Irish Government's Trade Forum on Friday which was focused on the potential impact of the tariffs. He welcomed the delay in implementation of EU countermeasures until the middle of April, adding: 'I hope that that time can be used for intensive, sensible, calm negotiation to find a way forward, because at the end of the day tariffs are bad for consumers and the US-EU relationship economically is so interdependent.' However, he said Mr Trump seems determined to introduce further tariffs 'I think that's really regrettable. 'We'd much rather have talks before tariffs, it seems the United States wants to have tariffs before talks. 'We think that approach is wrong but we have to control what we can control. 'So we continue to make the case for engagement now.'
Yahoo
25-03-2025
- Business
- Yahoo
Harris holds call with ‘tax scam' critic in US administration
Ireland's deputy premier has held a phone call with the US Secretary of Commerce, a major critic of the trade imbalance between the two countries. Simon Harris described the call with Secretary Howard Lutnick as a 'useful opportunity to exchange views'. Mr Lutnick has previously described Ireland as his favourite 'tax scam'. He has also said on social media that it is 'nonsense that Ireland of all places runs a trade surplus at our expense'. The call came amid heightened anxiety about the impact of an escalating tariff dispute between the EU and US. There is concern in Ireland that the new US administration's protectionist approach could pose a risk to an Irish economy which is significantly sustained by long-standing investment from US multinationals. Speaking on the All-In Podcast last week, Mr Lutnick said: 'We're going to try and fix a whole bunch of these tax scams. 'Ireland is my favourite.' He added: 'What do they do? 'Oh, they have all of our (intellectual property) for all our great tech companies and great pharma companies. 'They all put it there because its low tax. 'They don't pay us, they pay them. 'So that is going to end. ' In a statement after Monday's late-night call, Mr Harris said: 'I look forward to further conversations in the time ahead.' The Irish Minister for Foreign Affairs and Trade added: 'We greatly value the economic links between Ireland and the US and the EU and the US.' The Irish Government believes it is highly likely that US President Donald Trump will proceed with further tariffs on the EU on April 2. The EU has delayed until mid-April its countermeasures to the Trump administration's increase in tariffs on all steel and aluminium imports to 25% – which was introduced earlier this month. Europe had intended to implement measures on goods from the US worth some 26 billion euro (£21.5 billion) in two phases, on April 1 and April 13. The tariffs, now delayed until mid-April, were to include steel and aluminium, as well as goods such as bourbon. Mr Trump had announced plans to impose further reciprocal tariffs on April 2. In the Irish context, Mr Harris had previously said that it would 'make sense' for the EU to review the rationale behind which items it had chosen on its countermeasures list. Ireland's Government regards the threat of the US responding by imposing a tariff on alcoholic drinks from the EU as a 'very serious issue', as the Irish drinks sector could be massively impacted by such an escalation. Mr Harris convened a sitting of the Irish Government's Trade Forum on Friday which was focused on the potential impact of the tariffs. He welcomed the delay in implementation of EU countermeasures until the middle of April, adding: 'I hope that that time can be used for intensive, sensible, calm negotiation to find a way forward, because at the end of the day tariffs are bad for consumers and the US-EU relationship economically is so interdependent.' However, he said Mr Trump seems determined to introduce further tariffs 'I think that's really regrettable. 'We'd much rather have talks before tariffs, it seems the United States wants to have tariffs before talks. 'We think that approach is wrong but we have to control what we can control. 'So we continue to make the case for engagement now.'
