Tánaiste supports EU rebalancing measures and says it is long past time for a deal

The Tánaiste and Minister for Foreign Affairs and Trade, Simon Harris, has said the EU remains focused on reaching a negotiated deal with the US after member states agreed on a €93 billion package of countermeasures on Thursday morning.

The countermeasures will not come into effect until 7 August and only in the event of no deal being reached with the US by the deadline of 1 August.

Speaking after the measures were adopted, the Tánaiste said: “The government continues to strongly support Commissioner Šefčovič in his efforts to strike a deal in the coming days.

“However, throughout the negotiations we have been clear that while we would engage in good faith with the US, it was also necessary to prepare rebalancing measures should negotiations not be successful.

“This morning the 27 EU Member States have continued with that approach. This is not escalatory – it’s a continuation of our calm, measured preparation. Our objective remains a mutually beneficial deal by 1 August.

“While we were successful in removing some key Irish sensitivities following intensive consultation with the European Commission, this package of rebalancing measures if implemented would have an adverse effect on European and Irish business.

“However let me be clear, while we do not wish to see this list ever come into effect, the EU must prepare for all eventualities and must be enabled to negotiate with the United States from a position of strength.

“That is why it is now long past time for a deal.”

The €93 billion package of rebalancing measures adopted comprises the consolidated list of products that were included in the €21 billion package agreed in response to the US tariffs on steel and aluminium and currently suspended, along with those on a list that was revised following the extensive consultation with Member States and stakeholders earlier this summer and now valued at €72 billion.

The government’s initial analysis of Ireland’s exposure to the additional €72 billion of imports included on the new consolidated EU list has been reduced by approximately €2.4 billion from €12.6 billion to €10.2 billion (reduction of one-fifth or 19% from the original list of €95 billion).

Importantly, nearly €1 billion of the products that have been removed are products that Ireland has a high trade dependency on the US, or where Ireland accounts for a high share of total EU imports from the US. This represents almost half of the value of sensitive import dependent products, which Ireland specifically requested to be removed.

Furthermore, 30 agri-food products have been removed with a value of €33 million. These include some sensitive products such as pure-bred horses, sugar and molasses and some chocolate products.

ENDS

Press Office

24 July 2025