With the announcement of potential tariffs by the US government, particularly affecting imports, Irish officials express concerns over economic repercussions, especially for the local US pharma sector. Experts predict that Ireland will face severe challenges as they brace for an inevitable economic shock. The EU, under the guidance of leaders like Ursula von der Leyen, is preparing retaliatory measures. Taoiseach Micheál Martin notes that it's premature to predict job losses. The situation is fluid, with Trump's impending announcements set to redefine international trade dynamics.
The old order is essentially gone,' warns Taoiseach Micheál Martin, highlighting the expected tariffs and the uncertain economic impact on Ireland.
There is acceptance that an economic shock is now inevitable, albeit over a period of time rather than in one swift blow, indicating a strategic yet cautious response.
European Commission president Ursula von der Leyen assured that there is a 'strong plan' to retaliate against the looming trade changes announced by the US.
Mr Trump has signaled a dramatic overhaul in trade policy, which could significantly disrupt the current economic landscape and impact global trade relations.
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