On Sunday, shortly after playing a round of golf at his luxury Turnberry resort in Scotland, US president Donald Trump agreed to a trade deal with the EU commission president.
The agreement, which Mr Trump described as “a partnership in a sense”, finally brings some clarity to the future of EU-US trade following months of uncertainty, shifting deadlines and fears of a direct trade war across the Atlantic.
Mr Trump and Ursula von der Leyen agreed on a deal which locks in tariffs of 15 per cent on most EU imports to the US, just four days before Trump’s 30 per cent levy came into effect.
While the Irish Government will be glad to have avoided a worst-case scenario, 15 per cent tariffs still represent a serious economic blow to the State given its large volume of trade with the US.
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How will these tariffs affect Irish businesses and what are the longer term implications of this deal?
Was Ms von der Leyen correct in accepting this deal or should the EU have followed French president Emmanuel Macron’s call to hit back hard against US trade threats with a more aggressive response?
And, are business leaders, like IBEC chief executive Danny McCoy, correct in saying “Europe has capitulated” by accepting the 15 per cent deal?
Today, on In The News, what does Trump’s EU trade deal mean for Ireland, and could a better one have been secured?
Irish Times acting Europe Correspondent Jack Power and economics and finance writer Cliff Taylor join the podcast.
Presented by Sorcha Pollak. Produced by Declan Conlon, Aideen Finnegan and Andrew McNair.
