Ireland fears a looming recession following President Trump's announcement of tariffs on EU exports to the US, with specific implications for Irish trade and relations. The new tariffs include a 20% tax on EU goods and a 25% tax on car imports, while current major Irish exports like pharmaceuticals remain exempt. However, further tariffs may be introduced. The UK also faces export challenges post-Brexit. Taoiseach Micheál Martin criticized the tariffs, emphasizing their lack of justification.
"A watershed moment for global trade, Mr Trump showed a willingness to dismantle a global economic system that the United States has helped to build since World War II."
"Taxpayers have been ripped off for more than 50 years," Mr Trump added in remarks at the White House Rose Garden. "But it is not going to happen any more."
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