Negotiations between the US and EU have been ongoing, with President Trump delaying higher tariffs until August 1. He warned of 30% tariffs on the EU if a deal fails, a move that could ruin trade relations, according to the EU trade commissioner. Countermeasures worth €72 billion from the EU would adversely affect both US and EU economies. The Irish Tánaiste expressed concerns over potential tariffs, citing their ability to halt trade. Despite challenges, he believes a negotiated agreement remains possible.
"There is a very significant difference between baseline 10pc tariffs and an extraordinary level of tariffs of 30pc on the European Union," Mr Harris said.
"If negotiations on a deal fail and the EU imposes countermeasures worth €72bn, this would hurt both the US and the EU," Mr Harris will tell ministers today.
"I believe it's still possible to have a negotiated agreement, because the trade relationship between Ireland and the US - and the US and the EU - matters."
"I think in his heart of hearts, [president Donald Trump] knows, as a businessman, that tariffs of that level would not just disrupt trade, but in many ways stop trade as we know it from functioning between Europe and the US."
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