Irish Exporters add voice to EU/US trade dispute
The Irish Exporters Association has warned of the potential damage to Ireland’s trade with the US if the full impact of the EU sanctions on imports are fully implemented
The dispute centres on the imposition on tariffs in the US of European produced goods – particularly steel – and the EU’s retaliation by imposing tariffs on US exports.
IEA Chief Executive John Whelan said today: “Additional tariffs of 8 to 30% on a further range of US products as part of the World Trade Organisation settlement of the Steel Tariff dispute is very bad news indeed.
“This will have the effect of adding a further $40m (€35m) to $150m (€130m) to Ireland’s trading costs with the US ,” he added.
The Steel Tariff dispute saw the Bush administration impose a 30% tariff on all steel imports in March 2002. The WTO ruled against the US in this matter.
Yesterday, the European Commission released their decision to impose import tariffs of 8 to 30% on a range of US products with effect from December 15 this year, with the intention of collecting $1.9bn (€1.6bn) in counter tariffs.
Latest figures to September 2003 for Irish trade with the US saw exports running at €12.7bn or 22% of total exports, while imports were €5bn or 17% of total imports.
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