As EU-US trade tensions rise, Irish government officials warn that impending tariffs could elevate prices for households and businesses. Finance Minister Paschal Donohoe and Tánaiste Simon Harris emphasize the potential volatility of trade relations. Despite ongoing inflation and previous cost-of-living supports, the Taoiseach confirmed that Budget 2026 will not incorporate new support measures, focusing instead on sustaining existing provisions. Concerns about tariffs on pharmaceuticals have arisen, with officials advocating for consultation with businesses as Europe prepares for collective action against US tariff proposals.
As trade tensions between the EU and US escalate, Cabinet members warn that tariffs could lead to increased costs for households and businesses in Ireland.
Taoiseach stated there will be no new cost-of-living support in Budget 2026 despite ongoing inflation, emphasizing a focus on existing provisions.
Taoiseach expressed caution over pre-empting EU's response to US tariffs but acknowledged a collective European response is necessary, urging companies to participate in consultation.
Concerns were raised over potential tariffs on pharmaceutical goods, with Taoiseach questioning the rationale behind imposing tariffs on life-saving medicines.
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