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PLANS TO APPLY tariffs on trade with the European Union announced by US President Donald Trump last night will have rung alarm bells in Government Buildings, and in the offices of Irish-based pharmaceutical firms.
Yesterday, the US unveiled plans for “reciprocal” tariffs on goods from the EU – and other trading partners – in order to balance out the trade deficit between the two economies.
The Irish pharmaceutical sector contributes most to the Ireland-US deficit, and Trump’s suggestion that VAT, which is higher in the EU, may be taken into account could be particularly damaging.
EU tariffs on US goods are not very high as it stands, but Trump’s indication that he could take VAT into account could mean the proposed US tariffs are more than “reciprocal”.
Taoiseach Micheál Martin recently said that US “tariffs would hurt us”.
Ireland sells more goods to the US than to any other country, with a total value of €54bn in 2023.
Pharmaceuticals account for €36bn of that total, with much of those exports made by US companies.
Ireland’s current trade surplus in goods with the US is around €31bn.
Trump’s latest announcement is another dramatic move in the sweeping trade war policies aimed at both allies and adversaries that he has signalled since his election campaign.
Since taking office, Trump has announced a broad range of tariffs targeting some of America’s biggest trading partners, while saying the EU in particular has treated the US “very badly”.
However, Canada and Mexico have managed to appease the US president, at least temporarily, after offering him concessions on border policies.
Speaking in the Oval Office yesterday, Trump said he had decided to impose reciprocal duties, telling reporters that US allies were often “worse than our enemies” on trade.
“Whatever countries charge the United States of America, we will charge them,” Trump added.
In particular, he called the European Union “absolutely brutal” in trade ties with Washington.
The levies would be tailored to each US trading partner and consider the tariffs they impose on American goods, alongside taxes seen as “discriminatory,” such as VAT, a White House official said on condition of anonymity.
With Trump’s memo, officials including the US trade representative and commerce secretary will propose policies on a country-by-country basis.
Trump’s commerce secretary nominee Howard Lutnick said that studies should be completed by 1 April, and the president could start tariffs as early as 2 April.
Washington will begin by examining economies with which the United States has its biggest deficits or “most egregious issues,” the White House official added.
“This should be a matter of weeks, in a few months,” the official said.
With reporting from AFP
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The title says it all. No need for a comment:-)
As said best by Thoreau, “The mass of men lead lives of quiet desperation.” And this, they consign themselves to for fear of what others might think.
Being there to listen without judgement is a great gift to somebody in despair.
Yes it does, Leslie Alan Rock.
If this country had more men of the character of John McCarthy we wouldn’t be where we are.
john, i met you at the launch of “Vision for Change” i am still facing massive stigma every time i go into A&E and i do so now often due to crohns and other serious physical health issues. Yes, John, many survive the original trauma of life events, but we consider this history when others dont allow us do just that! i feel a heavy albatross around my neck, that is stigma, ignorance and consultants!
Reading and listening to how he coped with motor neuron was inspirational. He believed in the medicinal use of cannabis to relieve the debilitating the effects of motor neuron.
The approach to mental distress in use today, with too much emphasis on medication and the medical model and not enough emphasis on a Psychosocial approach, is inadequate. He wanted forced Electric Shock treactment (ECT) banned. Very good article by John McCarthy in the health supplement of the Irish Times last October. http://www.irishtimes.com/newspaper/health/2011/1011/1224305573629.html
That has made me so sad to hear about john. Heard him on an interview on today fm only last month. Amazing even with his illness he kept fighting the stigma. Really sad.
Really good to see all the articles being published on the journal lately raising awareness of mental health issues. Great work but I still think the coverage of Kate Fitzgerald’s treatment at the hands of the Irish Times was really disappointing.
John, good article.
We’re also working to change attitudes and end stigma – here’s our video – feel free to share it
http://www.youtube.com/depressionhurtsvideo
You may have seen a little about #depressionhurts in The journal.ie
Fell free to get in touch
Norah Bohan @Talentcoop on Twitter e: talentcooperative@hotmail.com
In my experience the greatest ‘stigma’ around mental illness in this country is not so much the fear of being placed in the loony bin, but the sense that many behaviours are ‘normal’ and people just need to ‘pull themselves together’. The more likely response to mentioning depression is not so much ‘you should be locked away’ but ‘ah sure stop moaning and get on with it’. Not to mention the amount of self-medicating with alcohol that goes on, and is viewed as ‘normal’ in this country.
(Great post and not meaning to argue against it, just want to add my two cents to the reasons-for-stigma side of things!)
I have to agree Claire. I have had huge figts with friends re. my depression because they would rather tell me that I was “childish”, “making it all up” and to just “deal with it” instead of them trying to appreciate that I have a problem
Kevin Myers has a very questioning article in The Independent on the invisibility of suicide on the government agenda. Well worth a read http://www.independent.ie/opinion/columnists/kevin-myers/kevin-myers-as-a-society-we-seem-paralysed-by-suicide-2984955.html
He did what hundreds of thousands of people wished to do. Speak open and honestly from the heart and from the mind, which salmon this country takes a hell of alot to do, people are running away everyday in towns and villages, from all age categories and depression and the people running away i believe are linked, it is the elephant in the room that some will voice their opinion on but for the majority myself included for whatever reasons why, we keep our mouths shut and let the pressure build
No harm but that is a load of crap about stigma. There is no evidence that stigma affects peoples perception of the mentally ill. It is behaviour that is the prevelent discrimination. I agree though that we must acccept mental illness and not discriminate. But please write accurate information. Evidence at Kirk (1974) and Phillips (1964).
Then why do children throw stones at the Mad Woman of Cork?
@Blaine….is this not what stigma actu
ally is….????
Seamus its a reaction against her persumably abnormal behaviour and could some people learn to spell a name right especially when it is printed in front of them #rude
@Blane: There definitely is a stigma. Anything which tries to address this is very welcome. Calm down.
yeah Blaine
‘Madness’ is a healthy reaction to a sick society.
if someone told me they had a mental health problem I would; listen, then remind them that they are human and MUST be kind to themselves and question negative ideas they have about themselves and others. Not easy but I believe it works with practice.
Honestly Mary, that’s a very simplistic way of looking at it. If it was that easy we would all be fine.
Siomha, just offering benefit of my experience with my depression. cognitive therapy would urge us to challenge our perceptions. perhaps what I am saying is simple . I didnt say it was easy. got to stop waiting for
others to understand. that might be too late.
i would also like to see more discussion around the subject of ‘sefl injury’ a very mis-understood behavioural response to trauma, i feel because itr is lasting, that is the effects remain and cannot be erased leaves a person open to stigma long after the issues around it have been resolved.
any more thinking on this one please.
Re: the selective mentioning of studies above leading to a slightly-bigger-conclusion-jump-than-is-warranted, an overview of several studies on mental health and stigma can be found here for anyone interested – http://orthomolecular.org/library/jom/1982/pdf/1982-v11n02-p087.pdf
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