Ireland is actively preparing for the possibility of enduring tariffs, particularly focusing on the essential sectors of pharmaceuticals and semiconductors. Minister Simon Harris underscored the need for readiness in light of ongoing negotiations with the US, especially following President Trump's announcement of a temporary suspension of certain tariffs. EU and Irish officials express hope for a favorable outcome while acknowledging the challenges posed by the previous unilateral tariff impositions. The significance of US-EU trade, valued at â¬1.6 trillion, reinforces the urgency of achieving a solid trade agreement before the deadline.
Earlier, the Taoiseach said he hoped pharma and semiconductors formed part of the tariff negotiations. The Tánaiste said that Ireland and the EU were 'preparing for the worst,' but continuing to try to bring about the best.
Simon Harris, Minister for Foreign Affairs and Trade, said in Luxembourg: 'We'd be foolish not to prepare for an environment in which tariffs persist - and certainly the Government is preparing for that and all various eventualities and outcomes.'
Pharmaceuticals are currently exempt from the 20pc tariffs but the US administration has previously said it would consider taxing such imports.
Stressing that trade between the EU and the US is worth about â¬1.6 trillion a year, Mr Harris added: 'No one can sniff at that reality. It's now time to get serious... It's time to get down to business.'
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