NORTHERN Ireland's Economy Minister Caoimhe Archibald has said that the tariffs announced by US President Donald Trump are ‘deeply regrettable’.
While counterparts in the Republic of Ireland and within the EU could face tariffs of up to 20% on exports, Northern Ireland goods entering the United States will face a 10% tariff, as part of a measure implemented on the UK as a whole.
Archibald said that ‘a trade war will only fuel inflation and risk recession’ and vowed to ‘meet with businesses and trade unions to assess the unfolding situation’. Meanwhile, Northern Ireland First Minister Michelle O’Neill said she will ‘continue to speak with political and business leaders throughout this period of uncertainty’.
DUP party leader Gavin Robinson said that the move would cause ‘an economic shock’, which has been surprising to some given his party’s quiet support for the President of the United States on other issues of policy.
Speaking on BBC Radio Ulster’s The Nolan Show, Mr Robinson said that local businesses ‘must not become collateral damage’ in a trade war between the US and the EU.
“For those businesses, particularly in Northern Ireland who are drawing product from the EU, where they’re buying their product from is going to be impacted by tariffs,” he said.
He said that Westminster played a crucial role in ensuring that Northern Ireland was not unfairly disadvantaged by retaliatory tariffs.
UK Prime Minister Sir Keir Starmer said that his government will respond with ‘cool and calm heads’, a marked contrast from An Taoiseach Micheál Martin’s statement that he could see ‘no justification’ for the tariffs.
Businesses across the island of Ireland have been spending the last 24 hours trying to assess the full impact of tariffs, according to Roger Pollen, head of the Federation of Small Businesses NI. He said that they were likely to cause ‘a lot of uncertainty, which is unwelcome’.
Speaking on Wednesday, US President Donald Trump appeared to take aim at some of Ireland’s most valuable industries, telling reporters: “Pharmaceutical companies are going to be coming roaring back, they’re all coming back to our country because if they don’t they’ve got a big tax to pay.”
