Dear Chamber Member,
In Cork, we are fortunate to have an agile and resilient business community, defined by its culture of collaboration, innovation and ambition. It is this culture that will ensure the continued strength and resilience of Cork’s business community in the face of evolving global trade dynamics.
Following the announcement of a trade deal between the EU and US this week, we have been analysing the detail as it emerges, representing members’ interests in our advocacy efforts and engaging with the media.
While the outcome of negotiations has provided some clarity for business, the agreement falls short on competitiveness. The imposition of a 15% tariff on EU goods across the majority of sectors will place an additional burden on businesses that are already navigating complex global supply chains, inflationary pressures and evolving regulatory environments.
When compared to the 10% tariff rate secured by the UK, the EU’s agreement risks putting Irish exporting businesses at a real disadvantage in the context of an all-island economy. In addition, uncertainties around certain key sectors of the economy, such as spirits, dairy and pharmaceuticals, remain.
Tariffs are not a constructive tool for trade. They represent a step backwards at a time when global cooperation is needed. What is critical for businesses is certainty, disruption should be avoided wherever possible. Government strategy must now focus on safeguarding jobs, supporting innovation, exploring new markets and preserving Ireland’s reputation as a trusted global trading partner.
At Cork Chamber, we will continue to actively engage with government, state agencies and EU stakeholders to ensure that the interests of Cork’s business community are strongly represented in ongoing trade matters, and we will continue to keep members informed as further details emerge.
Regards,
Conor Healy
CEO
