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Businesses across the country are sighing in relief after a 15 per cent
import tariff deal was struck on most European Union goods between the US
and EU.

While this is over three times higher than tariff imports before Donald
Trump's presidency, it is half of the 30 per cent that he originally threatened.

Although it will take time for officials to work out the full impact of
the deal, it is being widely welcomed as a bigger trade war has been
averted.

However, many experts have warned that it will be a challenge for the
country, with IBEC chief Danny McCoy saying it's "fairly punishing for
Europe".

European Commission President Ursula von der Leyen said 15 per cent is
“not to be underestimated” but insisted “it’s the best we could get”.

Taoiseach Micheál Martin has insisted the deal is good for businesses, investors and consumers and will protect many jobs in Ireland.

He said: “The agreement achieved in Scotland between Presidents von der
Leyen and Trump is very welcome. It brings clarity and predictability to
the trading relationship between the EU and the US – the biggest in the
world."

The biggest worry is for the pharmaceutical sector, which isn’t included
in the deal struck between President Trump and European Commission
President Ursula von der Leyen on Sunday.

Enterprise Minister Peter Burke says future tariffs on the sector “would
not increase beyond 15 per cent”. The rates on pharma are still being negotiated and will remain at a zero tariff rate while talks continue.

https://www.irishmirror.ie/news/world-news/eu-us-tariffs-live-updates-
35629362

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