Trade forum to prepare for threat of further US tariffs

The Government’s trade forum will meet this week ahead of the potential imposition of broader US tariffs.

At Cabinet on Wednesday, Tanaiste Simon Harris is expected to update the Government on the implications of the tariffs proposed by the United States as well as countermeasures announced by the EU in recent days.

US tariffs of 25% on all imports of steel and aluminium products and derivatives came into effect worldwide on March 12.

On the same day, the EU announced its proposed countermeasures including re-imposition of suspended tariff measures from April 1 and proposed new measures to come into effect later that month.

The Trump administration is expected to announce further measures on April 2.

Mr Harris has discussed the economic outlook during multiple meetings with business representatives in the US.

He is understood to have emphasised the stability of the Irish economy as well as the two-way trade relationship between Ireland and the US.

More than 200,000 Americans are employed in more than 770 Irish-owned companies.

A meeting of the Government Trade Forum, chaired by Mr Harris will take place on Friday.

It is seen as an important engagement with domestic stakeholders ahead of the potential imposition of broader tariffs on April 2.

Mr Harris has stressed the need for Ireland to work closely with the European Commission and other EU partners in framing a response.