Taoiseach Invites Trump’s Decision to Pause Greater 50% Tariffs on the EU
Taoiseach MicheĢal Martin has welcomed the decision by US President Donald Trump to pause 50% tariffs on the European Union until July 9.
A weekend phone call between Trump and EU chief Ursula von der Leyen provided ‘new motivation’ to trade talks, as Trump withdrew his threat of imposing 50% tariffs on EU imports next month.
Mr. Martin stated, ‘I wish to welcome President Trump’s confirmation that the threatened higher tariffs are paused until July 9.’
Positive Outlook on Trade Talks
Mr. Martin emphasized the importance of high-level contacts between the EU and the US for progressing negotiations, aiming for meaningful and substantive discussions to benefit both economies.
He highlighted the significance of the EU-US economic relationship, expressing confidence in finding a way forward despite current challenges.
Resumed Negotiations
Trump reinstated a July 9 deadline for talks between Washington and the 27-nation bloc after a productive phone call with von der Leyen, triggering a positive market response with the euro rising against the dollar and European shares surging.
Both parties agreed to expedite trade negotiations and maintain close communication, fostering hopes for a mutually beneficial deal.
Continued Efforts for Mutual Agreement
Despite previous tariff threats, ongoing discussions aim to reach a consensus by July 9, reflecting a temporary reprieve in trade tensions between the US and the EU.
German officials and industry leaders emphasize the need for calm negotiations to address trade challenges effectively and maintain stability in transatlantic relations.
