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EU states told not to expect stable trade relationship with US
EU member states have been warned not to expect a stable trade relationship with the United States, especially on the issue of European pharmaceutical exports, even if both sides reach an agreement in principle ahead of next Wednesday’s deadline, when a pause on the imposition of US tariffs expires. In Brussels yesterday, EU ambassadors were…
Read MoreCentral Bank chief warns Finance Minister of VAT ‘vulnerability’
Central Bank Governor Gabriel Makhlouf has warned Minister for Finance Paschal Donohoe about the vulnerability of VAT as a source of revenue, as the Government plans to cut the rate of the tax for the hospitality and retails sectors. The Coalition promised to change the tax for those sectors in the Programme for Government following…
Read MoreEU meeting with Trump administration to avoid 50% tariffs
The European Union’s Commissioner for Trade Maroš Šefčovič is flying to Washington today for talks with senior Trump administration officials ahead of next week’s deadline for a trade agreement that would be needed to avoid 50% tariffs placed on EU exports to the United States. On 2 April, US President Donald Trump imposed large, across-the-board…
Read MoreUnion leaders to debate four-day working week
A four-day working week, pay, remote working and artificial intelligence (AI) will be among the topics debated at the biennial conference of the Irish Congress of Trade Unions (ICTU) which begins in Belfast today. More than 600 union representatives from across the island of Ireland are participating in the three-day conference. A motion from the…
Read MoreDeal that reduced US tariffs on UK cars and aircraft parts comes into effect
The trade deal signed between US President Donald Trump and British Prime Minister Keir Starmer lowering some tariffs on imports from Britain has come into effect, the British government said today. British car manufacturers will now be able to export to the US under a reduced 10% tariff quota from an earlier 27.5%, while the…
Read MoreWorld economy faces ‘pivotal moment’, central bank body BIS says
Trade tensions and fractious geopolitics risk exposing deep fault lines in the global financial system, central bank umbrella body the Bank for International Settlements, said in its latest assessment of the state of the world economy. Outgoing head of the BIS, often dubbed the central bankers’ central bank, Agustín Carstens, said the US-driven trade war…
Read MoreUK economy grew at fastest pace in a year in Q1 – ONS
Britain’s economy expanded at its fastest pace in a year in the first three months of 2025 as homebuyers rushed to beat a deadline on property purchases and manufacturers sped up output ahead of US President Donald Trump’s higher import tariffs. UK gross domestic product grew by 0.7% in the first three months of 2025,…
Read MoreWhy Irish family businesses are a trump card in chaotic economic times
Analysis: A focus on Irish family businesses makes sense at a time when world economies are an election, tax change or trade dispute away from disruption What if Donald Trump lures the multinationals out of Ireland? With ongoing threats of tariffs on EU imports and a broader agenda focused on reshoring American industry, the risk…
Read MoreJuly deadline for higher tariffs may be extended – White House
US President Donald Trump could extend a July deadline for higher tariffs on imports, the White House has said. Mr Trump had set 9 July as the deadline after which punitive tariffs on a range of EU goods will take effect, with the EU promising some €95 billion in retaliatory countermeasures. Asked if there were…
Read MorePetrol and diesel prices rise in June, AA analysis shows
Fuel costs are continuing to rise, with both petrol and diesel recording increases in June. The latest analysis from the AA shows that petrol now costs an average of €1.77 per litre, up 1 cent since May. Diesel has risen to an average of €1.69 per litre, up 1 cent month-on-month. “While the changes are…
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