"No upside for Ireland" in US-EU tariff agreement - Mullooly

Ciaran Mullooly MEP has sharply criticised the US-EU tariff agreement announced this week, warning that it imposes permanent tariffs on Irish exports to the United States and deals a major blow to Ireland’s agri-food and beverage sectors.

Claiming that the EU leadership has "simply capitulated to the US" he said he is unclear as to how the Irish government can refer to the agreement as a good deal for the country amid ongoing uncertainty.

“The nightmare of instability continues for distillery companies such as Drumshanbo Gin, Tullamore Dew, and dozens of others and, as the most export-dependent economy in the European Union, Ireland stands to lose more than any other Member State under the terms of the new deal" said the local MEP.

He added that the tariffs will affect approximately €1.9 billion worth of Irish agri-food and beverage exports, with an estimated annual impact of €285 million - a 15% loss across key sectors:

- Prepared Foods: €60 million loss (15% of €400 million)

- Dairy Products: €75 million loss (15% of €500 million)

- Additional losses across beef and seafood exports

The Midlands North-West MEP has written to the Irish government and the European Commission to demand urgent support, including:

1. A financial rescue package for industries most affected by the new tariffs

2. Increased promotional budgets, both at national and EU level, to help Irish producers retain market share in the US

“We cannot allow key Irish industries, dairy, prepared foods, beef, and seafood-to absorb this shock unaided.” Mullooly said, “ They need a safety net and a strategy. The Government and the EU must step up without delay.”

Meanwhile, Chambers Ireland has welcomed the agreement on trade tariffs between the European Union and the United States.

While acknowledging that tariffs are "never welcome news" for businesses on either side of the Atlantic, Chief Executive Ian Talbot said reaching an agreement "however imperfect" is preferable to no deal.

“Certainty is critical for businesses and we’ve seen the impact of uncertainty over the past couple of months in terms of investment" he said.

Chambers Ireland has called on the Irish government to create a fund to support viable businesses to adapt new tariffs and to ensures that "potential arbitrage issues with Northern Ireland are clearly understood and addressed.”