Tánaiste convenes Trade Forum for update on EU-US Trade Developments and market diversification plans

The Tánaiste and Minister for Foreign Affairs and Trade, Simon Harris TD chaired the fourth meeting of the Government Trade Forum today.

Attended by senior Government Ministers, business groups and other key stakeholders, the Forum heard how, since its last meeting on 4 April, there have been significant developments, including with respect to US tariff policy and the EU response.

The Tánaiste updated the Forum on his ongoing close contact with EU colleagues and his meeting with US Commerce Secretary Howard Lutnick in Washington DC on 9 April. Minister for Finance Paschal Donohoe and Minister for Agriculture, Food and Marine Martin Heydon updated the Forum on their visits to the US earlier this month. The Tánaiste also updated the Forum on latest EU-UK trade developments.

Speaking after the meeting at Government Buildings, the Tánaiste said: “Since the last meeting of this Forum there have been significant developments with regard to US tariffs.

“As we know the US announced the suspension of the higher tariffs signalled on 2 April for a period of 90 days. However, the global ‘baseline tariff’ of 10% and sector specific tariffs on steel and aluminium and the automotive sector would remain.

“The Government welcomes this move by the US. We equally welcome that Commission President von der Leyen has confirmed that EU counter measures would be put on hold for 90 days.

“Ireland’s consistent position remains that we need to get into a substantive, calm, measured and comprehensive dialogue with the United States. This is also position of the EU.”

With respect to EU-UK relations, the Forum presented the opportunity to look ahead to the upcoming EU-UK Summit.

The Tánaiste said: “I welcome the recent momentum in strengthening and developing the EU-UK relationship, including preparations for a summit on 19 May. This is a moment of opportunity to strengthen this important relationship with a vital likeminded partner. There are many details to work through, but we believe that there is scope for the EU and the UK to look at improving the trading relationship and removing barriers to trade.

“The Forum had an initial discussion on the Government’s Action Plan on Market Diversification. The Action Plan, which is being developed jointly by the Departments of Enterprise, Tourism and Employment and the Department of Foreign Affairs and Trade is a key part of the Government response to current market turbulence and is assessing the supports available for Irish businesses to diversify their market outlets and supply chains. It will be completed within the next six weeks.

With respect to market diversification activities, the Tánaiste welcomed the work underway on this: “The new Government Action Plan on Market Diversification is an important opportunity to recommit our efforts across Government, working with key stakeholders to develop new and existing markets for Irish-based companies.”

ENDS

Press Office

28 April 2024

This is the fourth meeting of the Government Trade Forum. This follows the meetings of the Forum chaired by the Tánaiste earlier this year on 26 February, 21 March and 4 April.

The members of the Government Trade Forum include relevant government departments and business/sectoral representatives, as follows:

• Department of the Taoiseach
• Department of Foreign Affairs and Trade
• Department of Enterprise, Tourism and Employment
• Department of Agriculture, Food, Fisheries and the Marine
• Department of Finance
• Department of Further and Higher Education, Research, Innovation and Science
• Department of Public Expenditure, NDP Delivery and Reform
• Enterprise Ireland
• IDA Ireland
• Bord Bia
• Tourism Ireland
• Research Ireland
• Ibec
• Irish Exporters Association
• ISME
• American Chamber of Commerce Ireland
• Chambers Ireland
• British Irish Chamber of Commerce
• Irish Congress of Trade Unions
• Irish Farmers’ Association

The Terms of Reference for the Government Trade Forum are:

• enhance multi-stakeholder policy dialogue to foster a broad understanding of Ireland’s trade opportunities and challenges
• discuss emerging trade policy developments and their implications for Irish sectors
• share expertise to inform Ireland’s trade policy and exchange views on country and regional specific developments; and
• update members on key developments in international trade and their impact on Ireland