Statement by the Tánaiste on latest EU-US trade developments

This evening, I have been briefed on the latest in the EU-US trade negotiations ahead of the expected end of the US ‘pause’ on higher tariff rates on Wednesday.

My understanding is that we can now expect an extension of the current status quo until August 1 to give further time for the EU and the US to reach an agreement in principle on a mutually beneficial agreement that works for both sides.

However, it remains the position of the EU and the Irish government that we would like to conclude discussions on a trade agreement before August 1. I remain cautiously optimistic about reaching agreement in principle on a Framework Agreement.

I want to be clear that while it is likely there will be some form of tariffs going forward, their imposition even at a lower rate is bad for consumers, jobs, economic growth and investment.

As I have been saying for some time, the uncertainty is also bad for economic confidence and Irish businesses seeking clarity on the trading environment in which they operate.

We have consistently called for zero-for-zero tariffs in as many areas as possible and I know the EU has advocated this course of action.

Uncertainty continues around the outcomes of the existing 232 investigations including on Pharma. This is obviously an area of significant concern to Ireland.

However, my hope is that in the coming days and weeks both sides can work intensively and constructively to bring about an agreement.

ENDS

Press Office

7 July 2025