President Donald Trump has temporarily paused tariffs for 90 days but is considering tariffs on pharmaceutical imports soon. Ireland, reliant on US pharmaceutical companies, must prepare for ongoing tariffs. The Tánaiste plans to prioritize free trade agreements and propose short-term measures to combat competitiveness challenges, including the acceleration of CETA. The government will assess international trade missions and strengthen competition policy, aiming for a comprehensive action plan ready for discussion by July to address industrial policies and business costs.
Although the US president has paused tariffs on most imports, the anticipation of tariffs on pharmaceuticals raises significant concerns for Ireland's economy, indicating a need for preparedness.
The Tánaiste emphasized the importance of preparing for potential long-term tariffs and outlined a series of measures to enhance Ireland's global competitiveness and trade relations.
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