Cork TD calls for cool heads to prevail in tariff negotiations

A Cork TD has stated that US president Donald Trump implementing 30% tariffs on European products would be “detrimental to trade”, and called for “cool heads” to prevail.

Mr Trump has threatened the EU and Mexico with a 30% tariff on imports to the US from August.

Speaking to The Echo, Cork East Social Democrats TD Liam Quaide said that “30% tariffs would be utterly devastating for businesses, but I would caution against catastrophising.

“We know that Donald Trump likes to make incendiary threats, which he then doesn’t follow through on.

“There are a number of weeks left to negotiate this trading arrangement between the US and the EU, and we need cool heads and rationality to prevail.

“High tariffs would be detrimental to trade, in both directions, and if Donald Trump were to continue with this folly, he would face an enormous and immediate backlash from his own voters, and the markets.”

Meanwhile, the European Union’s response to Mr Trump implementing 30% tariffs on European products will be “firm, quick, and robust”, commissioner Michael McGrath has said.

SOLUTION

European Commission president Ursula von der Leyen responded by saying the EU prefers a negotiated solution on trade with the United States, and that the bloc would extend its suspension of countermeasures to US tariffs until early August.

Mr McGrath, European commissioner for democracy, justice, the rule of law and consumer protection, said that negotiations have been “particularly intensive” in recent weeks and they are working to the revised deadline.

The Cork politician said that EU negotiators will leave “no stone unturned” in getting the best deal possible for the bloc.