Tabitha Monahan: Enya, Guinness and Wagyu beef – Taoiseach on a mission to deepen ties as he visits Japan
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Irish Post
2 days ago
- Irish Post
US-Japan trade deal signals risk for Ireland and the EU
THE United States' recent trade deal with Japan may be seen as a political success in Washington, but for Ireland and the EU, it's a major shift in global trade dynamics. The agreement introduces a 15% tariff on Japanese exports to the US, replacing a previously threatened 25% tariff on cars. While that appears to offer Japan temporary relief, it still marks a harsh rollback of more than a decade of progress on global trade cooperation. For Ireland, a small, open economy heavily dependent on international trade, especially with America, the implications are serious. The food and drink sectors are especially at risk. Exports like butter and whiskey could become less competitive if slapped with steep US tariffs, especially when compared to similar products from Northern Ireland or Britain, which already secured a more lenient 10% tariff arrangement in an earlier deal. Though far from perfect, that deal now appears favourable compared to what the EU may soon face. The European Commission is currently in negotiations with Washington, aiming to avoid a looming 30% tariff the U.S. has threatened to impose from August 1. In response, the EU has approved a list of countermeasures worth €93 billion in tariffs on US goods, set to take effect on August 7 if no deal is reached. Ireland's exposure is particularly high. The Irish government initially flagged €12 billion of imports at risk from inclusion in the EU's countermeasure list. Following negotiations, this has been trimmed by €2.4 billion, with nearly €1 billion worth of sensitive Irish imports, like pharmaceutical components, being removed. Thirty specific agri-food products valued at €33 million, including purebred horses, sugar, molasses and some chocolate products, were successfully excluded following intensive lobbying. Still, this relief is partial at best. Ireland's pharmaceutical sector, one of its most critical exports to the US, remains vulnerable. President Trump's vocal focus on drug pricing seems to suggest that pharmaceuticals will become tariff targets. Additionally, Japan's concession to accept US vehicle safety standards sets a worrying precedent. It hands regulatory influence to Washington and pressures Europe to follow suit, potentially undermining EU regulatory sovereignty. The investment dimension of the US-Japan deal adds to EU concern. The $550 billion in Japanese capital earmarked for US infrastructure represents a massive diversion of resources. If similar terms were demanded of the EU, Ireland could be forced to channel investment into projects that prioritise US interests. The EU's previous lack of a unified response to US tariffs has only emboldened the current American administration. When the US imposed a blanket 10% tariff on numerous countries earlier this year, the EU's limited and fragmented reaction did little to deter further measures. As a result, the US continues to apply pressure on major economies individually, knowing few are willing to risk short-term economic pain in defence of long-term principles. Simon Harris, Ireland's Tánaiste and Minister for Foreign Affairs and Trade, emphasised that while Ireland supports reaching a negotiated deal, it is also crucial to prepare credible countermeasures to protect EU interests. 'This is not escalatory,' Harris noted. 'It's a continuation of our calm, measured preparation.' However, the risks remain severe. Seamus Coffey, chairperson of the Irish Fiscal Advisory Council, has warned of major uncertainty in the lead-up to the tariff deadline. He noted that Irish companies, especially pharmaceuticals, are pausing investments, in anticipation of potential disruption. While some diversification of supply chains is underway, the short timeframe limits effective risk mitigation. Ireland's limited leverage in global trade negotiations, coupled with its deep reliance on US trade, makes it particularly susceptible to shifting tides.
Irish Times
3 days ago
- Irish Times
No obligation on Israel to remedy starvation in Gaza Strip, says minister
Amid rising starvation in the Gaza Strip , an Israeli government minister said on Thursday that Israel had no duty to alleviate hunger in the territory and was seeking to expel its population. Far-right politician Amichay Eliyahu, who leads Israel's heritage ministry, said in a radio interview that 'there is no nation that feeds its enemies,' adding that 'the British didn't feed the Nazis, nor did the Americans feed the Japanese, nor do the Russians feed the Ukrainians now'. He concluded that the government was 'rushing toward Gaza being wiped out,' while also 'driving out the population that educated its people on the ideas of 'Mein Kampf'', an anti-Semitic text written by Adolf Hitler. Life in the West Bank Listen | 26:12 The office of Israeli prime minister Binyamin Netanyahu declined to comment on whether Mr Eliyahu's remarks had represented the government's position. An Israeli military official, speaking on the condition of anonymity, said Mr Eliyahu's comments did not reflect military policy. Mr Eliyahu oversees historical and archaeological sites and institutions in Israel and has no authority over the military. He does not participate in meetings of a small group of ministers who oversee security decisions. His office did not reply to requests for clarification. Mr Eliyahu's comments were swiftly condemned by Israeli opposition politicians, who said the minister did not represent the Israeli mainstream. Polling suggests a majority of Israelis favour reaching a ceasefire to release hostages held by Islamist group Hamas. The interview came amid increasing cases of starvation in Gaza. Israel has blocked all food deliveries to the enclave between early March and late May. While Israel allows some food into Gaza, it has drastically reduced the number of places from which food is distributed, forcing Palestinians to receive food aid from a handful of sites that are hard to access. The UN's Palestinian refugee agency (Unrwa) said that one in five children in Gaza City is malnourished and cases are increasing daily. Unrwa commissioner-general Philippe Lazzarini cited a colleague telling him: 'People in Gaza are neither dead nor alive, they are walking corpses.' More than 100 international aid organisations and human rights groups have also warned of mass starvation and pressed for governments to take action. Israel says there is no siege and blames Hamas for the widespread malnutrition. Israel and the United States, meanwhile, have recalled their delegations from ceasefire talks for consultations. US envoy Steve Witkoff accused Hamas of failing to act in good faith in the talks. 'While the mediators have made a great effort, Hamas does not appear to be co-ordinated or acting in good faith. We will now consider alternative options to bring the hostages home and try to create a more stable environment for the people of Gaza,' said Mr Witkoff on X. . — Department of State (@StateDept) An Israeli official with knowledge of the talks said the answer presented by Hamas to the most recent ceasefire proposal 'does not allow for progress without a concession' by the group, but that Israel intended to continue discussions. Mediators have been seeking to clinch an agreement that would secure a ceasefire and the release of hostages still held in the Gaza Strip. Israel and Hamas are facing pressure at home and abroad to reach a deal after almost two years of war. The humanitarian situation inside the war-torn enclave is deteriorating sharply and Israelis are worried about the conditions in which remaining hostages are being held. Elsewhere, a senior German government official said Israel was violating the law of war in Gaza , but insisted that Berlin will not be the 29th signatory to a letter demanding Israel 'end now' its military action. [ Germany says Israel 'violating law of war' in Gaza but refuses to sign ceasefire letter Opens in new window ] Jürgen Hardt , foreign policy spokesman for the ruling Christian Democratic Union (CDU), argued the letter was already being used by Hamas and other parts of the Arab world for propaganda purposes. 'That doesn't need to happen with German assistance,' he said. However, Mr Hardt admitted German officials no longer believe Israel is doing everything it can to allow enough humanitarian aid into Gaza. – New York Times/Reuters
Irish Independent
4 days ago
- Irish Independent
EU and US move toward trade deal that could include a 15pc baseline tariff on EU goods with possible exemptions
European negotiators were hoping to reach an agreement to dodge the 30pc tariff rate Trump has said he would impose on imports from the 27-nation bloc on August 1. The rate, which could also extend to cars, would mirror the framework agreement the U.S. has struck with Japan, which Trump announced late on Tuesday. There could be concessions for sectors like aircraft and lumber as well as some medicines and agricultural products, which would not face tariffs, the diplomats said. Washington does not, however, appear willing to lower its current 50pc tariff on steel, they said. The White House did not immediately respond to a request for comment. Trump trade adviser Peter Navarro told Bloomberg News the report from the EU should be taken with "a grain of salt." As talks continued, the European Commission said it would press on with potential counter-measures in case a deal was not reached. EU member states were set to vote on 93 billion euros of counter-tariffs on U.S. goods on Thursday, European diplomats said. A broad majority of members support using anti-coercion instruments if there is no deal, they said. Trump was aiming to secure an agreement on the heels of a complicated deal reached with Japan, the largest foreign investor in the U.S. That deal included a $550 investment and loan pledges from Japan and its commitment to buy 100 Boeing airplanes and boost purchases of U.S. agricultural products. That investment - to be spent at Trump's discretion - would focus on key industries like energy, semiconductors, critical minerals, pharmaceuticals and shipbuilding, the White House said on Wednesday. Tariffs on Japan's auto sector will drop from 27.5pc to 15pc as part of the agreement, reviving hopes for similar treatment for European cars. Asian and European stock markets rallied as investors cheered the U.S.-Japan agreement, but U.S. stocks showed a more modest rise and earnings reports were gloomy. American businesses making everything from chips to steel reported downbeat results on Wednesday, revealing how the Trump administration's chaotic trade policy has hurt profits, added to costs, upended supply chains and weighed on consumer confidence. U.S. automakers signaled their unhappiness with the Japan deal, raising concerns about a trade regime that cuts tariffs on Japanese auto imports while leaving 25pc tariffs on imports from their plants and suppliers in Canada and Mexico. "Any deal that charges a lower tariff for Japanese imports with virtually no U.S. content than the tariff imposed on North American-built vehicles with high U.S. content is a bad deal for U.S. industry and U.S. auto workers," said Matt Blunt, the president of the American Automotive Policy Council, which represents General Motors, Ford and Chrysler parent Stellantis. Automobile stocks led the climb of European shares after the Japan deal spurred hopes that the U.S. was budging over tariffs on EU cars. EU officials have previously said Washington has shown little sign of doing so. U.S. Treasury Secretary Scott Bessent said in an interview with Bloomberg Television that Japan received the 15pc rate on auto tariffs "because they were willing to provide this innovative financing mechanism" that he did not think other countries could replicate. Trump, however, has appeared open to a range of options as the U.S. negotiates trade deals. "I will only lower tariffs if a country agrees to open its market," Trump wrote in a social media post on Wednesday. The Republican president said late on Tuesday that other countries would be coming to Washington for talks this week. Governments were scrambling to close trade deals before next week's deadline that the White House has repeatedly pushed back under pressure from markets and intense lobbying by industry. U.S. and Chinese officials plan to meet in Stockholm next week to discuss extending an August 12 deadline for negotiating a trade deal. White House spokesperson Karoline Leavitt on Wednesday would not discuss expectations for the meeting, but said Bessent "looks forward to continuing discussions with his Chinese counterparts."
