Taoiseach welcomes outcome to trade talks between European Commission and US

The agreement achieved this afternoon in Scotland between Presidents von der Leyen and Trump is very welcome.

It brings clarity and predictability to the trading relationship between the EU and the US – the biggest in the world.

That is good for businesses, investors and consumers. It will help protect many jobs in Ireland.

The negotiations to get us to this point have been long and complex, and I would like to thank both teams for their patient work.

We will now study the detail of what has been agreed, including its implications for businesses exporting from Ireland to the US, and for different sectors operating here.

The agreement is a framework and there will be more detail to be fleshed out in the weeks and months ahead.

It does mean that there will now be higher tariffs than there have been and this will have an impact on trade between the EU and the US, making it more expensive and more challenging.

However, it also creates a new era of stability that can hopefully contribute to a growing and deepening relationship between the EU and the US, which is important not just for the EU and the US, but for the global economy.

Given the very real risk that existed for escalation and for the imposition of punitively high tariffs, this news will be welcomed by many.