ICC Ireland responds to proposed tariffs

Speaking after today’s announcement that the US administration may apply increased tariffs on EU exports, Secretary General of ICC Ireland Ian Talbot said:

“The proposed increase in tariffs on EU imports introduces uncertainty into a stable and integrated trade relationship. The immediate effect for businesses will be to delay investment decisions, disrupt supply chains, and undermine market confidence.  

“The EU/US relationship is not only of immense economic importance; it is the cornerstone of the rules-based global trading system. For decades, EU-US trade has been a model of openness, reliability, and shared prosperity. Increasing tariffs between these two major economies could disrupt global business at a time when stability is crucial.”

He said that de-escalation, rather than retaliation should be prioritised:

“In line with our colleagues at the International Chamber of Commerce, we call on the US and the EU to redouble ongoing efforts to renew their trade relationship. A swift and coordinated de-escalation is essential to preserve the trust and stability that underpin international commerce, business investment and job creation.”