From Kerrygold butter to tech: What will US tariffs mean for Ireland?
During his last presidency Donald Trump slapped a tariff on Kerrygold butter; costing its parent company, Ornua, €50m in one year. A fortnight into his second presidency and it’s clear sweeping tariffs are now a core part of the agenda for his second stint in the White House. He's hit China with a 10% tax, while Canada and Mexico have been given a month before their US exports are levied with 25% duties. And the 78 year-old has been explicit about his plans to impose tariffs on goods coming from the European Union, saying the EU bloc’s approach to trade is an “atrocity”. So, what exactly is a tariff and why is Donald Trump so focused on imposing them? And what does this all mean for Ireland’s main exports and our country’s foreign direct investment? Irish Times economics correspondent Eoin Burke Kennedy outlines how the 'Americanisation' of our economy has left us vulnerable to Trump's tariffs and tax plans, and what may be offered by Brussels to appease Washington's whims.Presented by Sorcha Pollak, produced by Aideen Finnegan. Hosted on Acast. See acast.com/privacy for more information.