The Government aims to prevent a recession by introducing a new fund to support Irish businesses impacted by potential US tariffs. With US President Donald Trump considering a 15% minimum tariff on all EU products, officials are preparing for substantial economic challenges. The anticipated impact on the Irish economy is described as "quite stark," even though the proposed tariff is an improvement over previous suggestions of a devastating 30% rate.
The Government is planning to do "everything it possibly can" to avoid a recession, as details of a new fund for Irish businesses affected by US tariffs emerge.
US President Donald Trump is pushing to impose a 15pc minimum tariff rate on all EU goods, raising concerns about significant impacts on the Irish economy.
The Government expects "quite stark" impacts on the economy as the new tariff rate, although lower than the previously suggested 30pc, will still be damaging.
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