Cork Chamber boss says tariffs deal still raises concerns for Ireland

The chief executive of Cork Chamber has said that, while the publication of a new EU-US joint statement yesterday has provided welcome clarity for many in the business community, concerns regarding the impact on Ireland’s competitiveness remain.

Conor Healy said that the inclusion of pharmaceuticals and semiconductors in the agreement is important given their key role in the Irish economy.

The Taoiseach and Tánaiste both welcomed clarity on the EU-US trade deal, which sees the US commit to capping tariffs on pharma goods at 15%. Yesterday afternoon, Mr Healy said that a stable international trading environment was critical for economic growth and development, and the agreement provides that.

“The fact remains, however, that there will be a negative impact on the Irish economy, Irish business, and Irish consumers as a result of this new trading landscape.

“It is vital that the Irish Government, alongside EU partners, continues to advocate for more favourable trading conditions, as well as providing support for businesses and sectors most affected by the new trading reality,” Mr Healy added. 

Taoiseach Micheál Martin said the trade agreement represented a “significant win” for the EU, while Tánaiste Simon Harris said it offered an “important shield” for Irish exporters. The deal sees 15% tariffs on most EU goods including cars, semiconductors and pharmaceuticals entering the US.

There are “zero-for-zero” tariffs on a number of products including aircrafts, some agricultural goods, and certain chemicals.