THE Irish Government has begun developing a “detailed action plan for trade diversification” due to the economic uncertainty brought by impending US tariffs.
Tánaiste Simon Harris confirmed this morning that the government is seeking out alternative options for those Irish traders who will be hit hardest by the new US levies.
Last month President Donald Trump confirmed import taxes of 20 per cent would be imposed on all good entering the US from the EU.
Those tariffs were due to take effect on April 9, although President Trump issued a 90-day delay to the plan.
“If the last few months have shown us anything, it is that diversification of our markets has never been more important,” Mr Harris said as he addressed the Global Ireland Summit at Dublin Castle this morning.
Global Ireland Summit at Dublin Castle this morning (Pic: Gov.ie)Outlining the nation’s position in terms of global trade and the economy, Mr Harris said “Ireland’s story is one of openness – openness to the world, to trade, to new ideas and partnerships".
“Our prosperity is enhanced by our ability to produce high-quality goods and services and bring them to global markets,” he explained, before confirming that the Irish economy “performed strongly” in 2024.
“However, the economic backdrop has become increasingly uncertain,” he added.
“The most pressing risks are external in nature and include risks related to increased trade protectionism and weaker than expected demand in our main trading partners,” Mr Harris explained.
“This has been a tumultuous period for those engaged in international trade arising from the actions of the US administration.”
Mr Harris further confirmed that despite Ireland’s “remarkably close economic, diplomatic and political links” with the US, they “see no justification for tariffs imposed by the US administration on its trading partners, including EU exports”.
“The Government’s views on this have been consistent throughout,” Mr Harris explained.
“Tariffs are counter-productive; they drive inflation and hurt consumers on all sides.
"We want trade issues to be resolved through substantive, calm, measured dialogue with the United States,” he added.
“All sides need to engage in good faith because uncertainty and turmoil is not the way forward.”
Outlining Ireland’s response to the planned tariffs, Mr Harris said "EU unity is crucial".
“The Irish Government strongly supports the approach being pursued by European Commission President von der Leyen and the Trade Commissioner Maros Sefcovic," he confirmed.
Mr Harris added: “The Government has begun developing a detailed action plan for trade diversification, which will seek to identify new opportunities and alternative markets for Irish goods, working closely with our embassies and state bodies abroad.
“This will be accompanied by a sustained focus on competitiveness, supporting efforts at EU level, and also driving competitiveness domestically in support of Irish businesses, investment in Ireland, jobs and our continued prosperity.”
