Urgent talks needed to avoid escalating EU-US trade dispute
Ibec, the group that represents Irish business, today called for immediate talks to avoid an escalating EU-US trade dispute. The call follows a WTO decision to authorise nearly $7.5 billion in annual levies, by the US on EU products, in a ruling on Airbus state aid. A ruling on US aid to Boeing is expected in the New Year, which could see major retaliatory action on the part of the EU.
Ibec Director of EU and International Affairs Pat Ivory said: “Business links between Ireland, the EU and the US are vitally important to global supply chains and have been overwhelmingly positive for our workers and consumers. There is an urgent need for the European Commission and US administration to negotiate a speedy resolution to this dispute. Any new tariff barriers will have significant economic and employment implications on both sides of the Atlantic, potentially hitting Irish businesses when they are coping with Brexit.”