EU-US Trade Agreement Brings Some Clarity, but Irish Competitiveness at Risk, says Cork Chamber
Cork Chamber, the voice of business in Cork, has responded to the new EU-US trade deal as a step towards greater certainty for transatlantic trade. However, Cork Chamber emphasised that it does not deliver what is needed for a competitive international economic environment and poses particular risks to the Irish economy.
Cork Chamber CEO, Conor Healy, said, “The negotiations have provided some clarity, however this deal falls short on competitiveness. The imposition of tariffs at this level is a clear setback. It places an additional burden on businesses that are already navigating complex global supply chains, inflationary pressures, and evolving regulatory environments. While we are still waiting on the details of the agreement, it is difficult to see many positives for the EU.
“EU goods will face a 15% tariff entering the US, compared to a 10% rate secured by the UK, which will put Irish exporting businesses at a real disadvantage in the context of an all-island economy.
“Additionally, we remain concerned that critical sectors such as spirits and pharmaceuticals, vital to the Cork and national economy, are still not adequately addressed within the agreement. Irish businesses in these industries continue to face uncertainty around tariff thresholds and future treatment and, without a clear roadmap, they are at risk of delayed investment, disrupted planning and weakened global competitiveness.
“The impact of these tariffs will be felt unevenly across sectors, but SMEs and our large exporters are vulnerable. They will require targeted support measures to manage the increased cost of doing business, to explore alternative markets, and to sustain employment. The role of our state agencies and diplomatic network will be crucial in assisting companies to adapt and reposition. At an EU level, the European Commission must move forward with new trade agreements to provide improved access to key international markets.”
Rob Horgan, Cork Chamber President, said, “Our exporters depend on a predictable and equitable trading environment and it is vital that the Irish Government and the European Commission continue to work towards reducing the tariff gap between the EU and UK deals to safeguard Irish competitiveness. At the same time, urgent clarification is needed on the treatment of high-value Irish exports still in limbo, such as spirits and pharmaceuticals.
“Tariffs are not a constructive tool for trade. They represent a step backwards at a time when global cooperation is needed. Businesses need certainty, not disruption. Strategic engagement at both European and national levels must now focus on safeguarding jobs, supporting innovation, and preserving Ireland’s reputation as a trusted global trading partner. At Cork Chamber, we will continue to actively engage with government and EU stakeholders to ensure that the interests of Cork’s business community are strongly represented in ongoing trade matters.”
