Chinese President Xi Jinping has implemented retaliatory tariffs that have escalated tensions with the US, prompting a serious response from Irish employers and unions. In a recent meeting, Tanaiste Simon Harris emphasized the necessity of negotiations over tariffs and acknowledged the potential for further tariffs from the Trump administration. The Irish Business and Employers Confederation (Ibec) voiced concerns over a lack of immediate supports and anticipated workforce reductions due to expected downturns in demand for consumer products. The government remains committed to supporting businesses amid these uncertainties, monitoring the situation closely.
If demand is likely to dry up, then you have an excess supply of both product and workers. The impact on demand for products... will be immediate.
We continue to monitor the situation in terms of the impact on the Irish economy on a very regular basis. I think we have to take the Trump administration at its word.
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