Archibald – Tariff announcements deeply regrettable and businesses need support to respond
Date published:
Speaking this morning at a NI Chamber conference in Ballymena, Economy Minister Dr Caoimhe Archibald highlighted the uncertainty and indeed apprehension around the world at the tariffs being imposed by the Trump Administration.
She said:
“The announcements made last night are deeply regrettable. A trade war will only fuel inflation and risk recession.”
Having already engaged with the Irish Tánaiste and the British Trade Secretary to discuss this issue, the Minister outlined five key asks of the British and Irish Governments.
She explained:
"First, to keep the north’s unique circumstances in mind in trade negotiations and in terms of any counter-measures.“Second, to act in concert, and to minimise divergence between Britain and the EU.
“Third, to provide a properly resourced advice service for businesses so that they can understand how tariffs affect them.
“Fourth, to improve existing trading initiatives such as HMRC’s duty reimbursement and waiver schemes.
“Finally, to bring forward an economic package that protects our international competitiveness.”
The Minister continued:
“My Department will closely monitor the impact of US tariffs and any counter-measures. On Monday morning I will meet with businesses and trade unions to assess the unfolding situation, and the next steps. Our task is to maintain the positive economic momentum that has built up over the last few years.”
Notes to editors:
- The Minister’s speech at the NI Chamber’s Momentum Economic Conference ‘Delivering Momentum in an Uncertain World’ can be accessed on the DfE website.
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