Tánaiste Simon Harris has warned that Ireland will face a “significant period of turbulence” as the trade war between the US and EU escalates.
The Fine Gael leader said the imposition of tariffs on goods by both the US and EU will lead to higher costs for consumers across the board.
As the Irish Examiner reports, Mr Harris said the EU was engaging intensively with the US to resolve the matter but warned of the impact of levies on exports in Philadelphia.
"I’ve got to be very honest with the Irish people, I think we are heading for a significant period of turbulence about trade and tariffs.
“Tariffs are bad for consumers in Ireland, they’re bad for consumers in Europe, and they’re bad for consumers in the United States of America.
“They will push up the price of goods for everybody.”
The Tánaiste said that US president Donald Trump was entitled to his views on tariffs, but that there needs to be an agreement reached between the EU and US.
“Ultimately we need to find an agreement here that is good for the European Union, good for Ireland, and good for the United States,” Mr Harris said.
He added that while there will be a period of turbulence, the country would “get through it together”.
“Every disagreement has to be solved by agreement, and what I would hope would happen is that we can try and keep the period of disagreement as short as possible, so we can get to the point of trying to cut a deal.
“President Trump is a politician of course, but he’s also fundamentally a businessman. He knows and prides himself on the importance of a deal."
The Tánaiste added that there should not be a “tit-for-tat” running commentary on the matter.
“We need to find a way through. We need to be calm, we need to be reasonable, and we need to be willing to engage intensively.”
Mr Harris said that he would be updating Cabinet on Wednesday on the latest developments on trade, while also convening the Government’s trade forum on Friday.
