Ministers discuss potential US tariffs ahead of Trump's 'Liberation Day'

James Cox

Government ministers will hear today how chemical and pharmaceutical exports from Ireland to the US could halve in the coming years.

That's in the event of US tariffs being reciprocated by the EU.

Donald Trump is hoping a 25 per cent tariff on foreign goods arriving into America will lead to a US manufacturing boom.

The White House says the charges will be applied from tomorrow, to any country which has "treated the US unfairly". Mr Trump has dubbed April 2nd 'Liberation Day'.

Minister for Public Expenditure Jack Chambers is to give an update on the National Development Plan and will stress the importance of investment in capital projects in this year's budget.

Last night, Enterprise Minister Peter Burke briefed party leaders on Ireland's competitiveness, ahead of the tariff announcements.

In an interview with BreakingNews.ie, Fianna Fáil MEP Barry Cowen said the EU's decision to delay counter-tariffs was a positive move.

"The US administration's proposed 200 per cent tariff on EU alcohol imports poses a severe threat to European business, particularly Ireland's whiskey industry.

"And the proposed 50 per cent counter-tariff on US bourbon does not help our case for the US to never implement it. The EU has agreed to delay any counter-tariffs until mid-April. In the meantime, it'll consult with member states and MEPs on what form they should take in relation to the counter proposal.

"I've written to the trade commissioner and our own commissioner Michael McGrath, calling on them and the Commission to remove bourbon from the EU countermeasures.

"Maintaining a a zero for zero tariff status between the EU and US on alcohol is essential I think for industry stability, especially when you consider Irish whiskey exports."