A Clare financial expert claims US consumers are likely to feel the brunt of the new trade deal struck with the EU.
Ursula Von Der Leyen and Donald Trump’s agreement of a 15% baseline tariff continues to divide opinion in this country.
The Enterprise Minister is updating cabinet colleagues today on the European Union’s Deal with the United States, as uncertainty remains about the impact on the pharma sector.
It’s the understood goods imported from the EU will face a minimum levy of 15%, but clarity is still being sought as to whether some goods will face additional penalties and what charges will apply to agri-food and spirits.
Minister Peter Burke says they’ll have to see the detail before taking their next steps.
As part of the deal, the EU will also purchase €640bn in US energy over the next three years, €515bn in military equipment and has also committed to buying more American beef.
A Clare financial expert, meanwhile, says it’s too early to call if the tariffs will lead to a surge in US industry, manpower difficulties, affect employment opportunities here or cause market uncertainty.
However, Tommy Corbett of Carey Corbett Financial Solutions believes US consumers will feel the pinch.
