European Commissioner Michael McGrath has emphasized the EU’s commitment to stop a potential commercial conflict, yet urged for cooperation from the United States for establishing fresh and sustainable trade conditions. While addressing the Global Economic Summit in Killarney, Commissioner McGrath expressed his confidence that a resolution can be attained on tariffs if both parties show goodwill and readiness to seek a common ground.
He highlighted the monumental impact this issue holds for businesses, consumers, and particularly, employees, who might risk their employment if a full-fledged trade dispute arises. McGrath strongly stressed that such a scenario would be beneficial to no one and should be strictly avoided.
The Commissioner went on to assert that the European Union is prepared to make all necessary efforts to deter this from happening. However, he pointed out that they need a cooperative associate in the United States to decide upon new, secure trading terms that can bestow predictability and assurance for businesses.
An update from the European Commission revealed that both President Ursula Von der Leyen and President Trump of the United States have both verbally consented to expedite trade discussions. They also planned to maintain regular contact following their recent telephonic conversation.
President Trump has decided to provisionally suspend his ominous threat of imposing 50% tariffs on the European Union until 9th of July. This decision came one night after what Mr. Trump referred to as a ‘very nice call’ he had with Ms. von der Leyen.
This diplomatic exchange found favour with Taoiseach Micheál Martin, which he deemed as inherently vital for a feasible and equitable agreement between EU and the US. Mr. Martin extended his support for the dialogue between President Trump and von der Leyen, citing it as a return to the original timeline of July to accomplish a deal between both transatlantic powers.
Tánaiste Simon Harris has also expressed his approval of Trump’s decision to delay his threatened tariffs. The Tánaiste articulated his desire to witness significant and substantive negotiations in this regard.
Mr. Harris also made it clear that Ireland would continue offering active and positive contributions to these discussions. He ended his statement by emphasizing the pressing need to find a mutually beneficial agreement that spurs economic growth and safeguards jobs and investments.