Businesses are facing “complete uncertainty” as US President Donald Trump’s tariff deadline approaches in just one week.
A Government trade forum meeting was described as being “more heat than light,” with the Tánaiste and Minister for Finance seeking input from State agencies, business and farming groups, and trade unions.
There was a general agreement among the groups on Wednesday that policies and plans cannot be built on the unpredictable nature of the Trump administration.
Instead, the focus should be on areas within Ireland’s control, such as diversifying markets.
Several stakeholders expressed concerns about relying solely on civil servants in the US and Brussels to represent Ireland’s interests in trade negotiations.
Given the complexities of the trade landscape, it was suggested that individuals with business experience be seconded to these roles.
The sentiment was that these roles should not be filled by diplomats. Instead, individuals with commercial knowledge and experience should bring their expertise to the discussions.
New York and Washington were highlighted as key locations where the Government could benefit from having better-placed personnel working on trade matters.
Paschal Donohoe informed the meeting that Ireland’s economy is projected to continue growing over the next two years, though at a slower pace than originally anticipated due to the threat of tariffs.
Mr. Donohoe’s assessment assumed a uniform 10% tariff application without any sectoral exemptions.
Simon Harris stated that Ireland and the EU will strive to maximize the number of areas where trade can flow freely and without tariffs.
