UK Prime Minister Keir Starmer is joining an important meeting amid market declines resulting from new US tariffs on Canada, Mexico, and China. Taoiseach Micheál Martin emphasized the need for the EU to act cohesively to address the threats posed by President Trump's tariffs on European goods, highlighting that protectionism negatively impacts trade-dependent economies like Ireland. Stock markets across Europe fell significantly following Trump's comments about likely EU tariffs, prompting urgent discussions among EU leaders to strategize a unified response.
In our view, protectionism will harm citizens no matter where they reside, and that tariffs are a negative. We're a small, open economy. We depend on trade.
First of all, European Union has to act as one. We have to see what happens and assess it and measure it, calibrate the impacts, and then develop a response.
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