Uncertainty over tariff reprieve effects as Cork TDs warn Ireland left ‘vulnerable’

Although Cork TDs have welcomed the news that US president Donald Trump is to put a pause on much of his tariff plans, there is still a feeling of uncertainty about what happens next for Ireland.

The US president announced on Wednesday that he would be delaying tariffs on most nations for 90 days, while raising his tax rate on Chinese imports to 125%.

Speaking to The Echo, Cork South Central Sinn Féin TD Donnchadh Ó Laoghaire said that the Government must take action to protect the Irish economy.

“The announcement by President Trump underlines how unpredictable this entire area is,” he said.

“While a deferral is welcome, it is somewhat unclear the actual implications of this, and furthermore it does not mean that further tariffs are off the table, and the threat [of] pharmaceutical tariffs remains.

“Lots of people across Cork and Ireland will remain very concerned.

“In our view, the Government needs to maintain a cool head and a clear eye. Not to panic, but to be clear-sighted.

“Government has left Ireland uniquely vulnerable due to an excessive reliance on tax incentives and a failure to diversify and to invest in infrastructure.”

DIPLOMATIC EFFORTS

Cork South Central Social Democrats TD Pádraig Rice said it is important that the Government and the European Union continue diplomatic efforts with the US.

“I welcome the fact that Donald Trump has paused the implementation of his severe tariffs, particularly given he had indicated... that a punitive tariff on the pharmaceutical industry [was] imminent,” said Mr Rice.

“Pharma is crucial to the economy in Cork, and thousands of workers depend on the industry.

“This reprieve from the economic chaos is especially welcome for them.

“This news is positive, but Trump is highly volatile, and his policy platform could change at any moment.

“The EU and the Irish Government will have to continue diplomatic efforts and try to remove the current 10% tariff rate.”

Fine Gael Cork North Central TD Colm Burke said: “I was on the joint committee of the European Parliament and US Congress back in 2009.

“It was amazing the co-operation that was there between the US and Brussels at the time.

“The big problem that we have now is the uncertainty that is in the markets. Anything could happen now, because it is changing from day to day.”