EU-US Deal Imposes 15% Tariffs Challenging Irish Exports

The recent EU-US trade agreement, finalized between President Donald Trump and European Commission President Ursula Von der Leyen, establishes a 15% tariff rate on most EU goods entering the US, including key sectors like cars, semiconductors, and pharmaceuticals, avoiding a threatened 30% tariff that could have severely disrupted markets. Irish business leaders and officials have expressed concern that the 15% tariff places Irish exporters, particularly in whiskey and pharmaceuticals, at a competitive disadvantage compared to the UK and Northern Ireland, which secured lower tariffs around 10%. Ireland's Enterprise Minister Peter Burke acknowledged that while challenging, the agreement prevents a trade war and EU counter-measures but emphasized that details remain unclear, especially regarding energy investments tied to the deal. Business groups have criticized the deal as punishing for Europe, highlighting Ireland's economic vulnerability due to its significant pharmaceutical industry and global exposure through aircraft leasing. The agreement offers some carve-outs with zero tariffs on aviation, certain agricultural goods, chemicals, and substantial US energy purchases by the EU, providing limited relief amid overall trade tensions and economic concerns. Meanwhile, escalating tariff and trade war risks continue to worry global business leaders, underscoring the broader context of a volatile low-growth economic environment and supply chain disruptions.