Ireland's Tánaiste Simon Harris and Taoiseach Micheál Martin have both welcomed the publication of the US-EU Framework on an Agreement on Reciprocal, Fair, and Balanced Trade today, Thursday, August 21.
The US and EU issued a joint statement on Thursday regarding the Framework Agreement, which commenced on August 7.
"This Framework Agreement will put our trade and investment relationship – one of the largest in the world – on a solid footing and will reinvigorate our economies’ reindustrialisation," today's joint US-EU statement said.
The statement notes that the Framework Agreement is "a first step in a process that can be further expanded over time to cover additional areas and continue to improve market access and increase their trade and investment relationship."
Predictability for our companies & consumers.
Stability in the largest trading partnership in the world.
And security for European jobs & economic growth in the long-term.
This EU-US trade deal delivers for our citizens & companies, and strengthens transatlantic relations.
— Ursula von der Leyen (@vonderleyen) August 21, 2025
Speaking upon the publication of the EU-US Joint Statement, the Tánaiste said: “We welcome clarity that the deal includes a single, all-inclusive 15% tariff on EU goods. We also now have assurance that this rate will extend to pharmaceuticals and semiconductors.
"This provides an important shield to Irish exporters that could have been subject to much larger tariffs pending the outcomes of Section 232 US investigations into these sectors.”
Ireland's Department of Foreign Affairs and Trade highlighted that the Joint Statement also includes ‘zero for zero’ tariff rate carve-outs for aircraft and aircraft parts, with further carve-outs to be determined for certain products in generic pharmaceuticals and chemicals.
"Importantly, the Joint Statement leaves the door open for negotiation of further tariff reductions in the future on products of strategic common interest," the Department noted.
The Tánaiste continued: “As the Statement makes clear, this is a framework agreement which gives us a first step to negotiate a more comprehensive and formal agreement with the US in the future. Our intention now is to see what other carve-outs can be made in areas of interest for Irish exporters.”
He added: “While the deal finally provides certainty we also are acutely aware of the impact of higher tariffs and the existing difficulties that many Irish exporters have already faced this year. In that regard, we also must continue to control what we can control and continue to make our country, and our European Union, as competitive as possible, as good a location as possible to invest in and create jobs.
“We must also look for other opportunities to diversify markets for Irish business. While we want to continue to do business with the US and indeed want to grow business. It is important that we take every opportunity to identify new markets.
"On Monday, we will publish Ireland’s new Market Diversification Action Plan."
The EU-US Joint Statement on trade has now issued.
It provide some further clarity. We will continue to seek to maximise opportunities for zero for zero in as many areas as possible. Much more work to do in time ahead.
My full statement below ⬇️ pic.twitter.com/EQC9tZY0WN
— Simon Harris TD (@SimonHarrisTD) August 21, 2025
The Taoiseach also welcomed the Joint Statement on Thursday.
“It brings greater clarity and certainty to what the agreement between the EU and the US will mean in practice," he said in a statement.
"This is especially important for enterprises that either import from or export to the US.
“Given the scale of the pharmaceutical and semiconductor sectors in Ireland, it is important that the Joint Statement confirms that 15% is a ceiling that will apply to EU exports in these areas in all circumstances, including when the current US Section 232 investigations are concluded.
“While I have been clear all along that I do not support tariffs, this is a significant win for the EU.
“Given the significance of the airline sector to Ireland, a specific carve-out for aircraft and aircraft parts is also welcome.
“There are areas where further work remains to be done, including a potential carve-out for med-tech products and spirits. I hope this will be advanced as quickly as possible. We will continue to advocate for these sectors given their significant importance to our domestic economy.
“As I have consistently said, tariffs are bad, bad for business and bad for consumers. There is no doubt that the tariffs now imposed by the US on EU products will have a negative impact on many businesses and on consumers both in the EU and the US.
“But the publication of the Joint Statement does provide a degree of certainty and predictability that is so important for business and investment decisions."
He concluded: "The Government will continue to work closely with the European Commission, our fellow EU Member States, and with the US to build on the Joint Statement and pursue an ambitious trade and investment agenda between the EU and the US, the two largest economies in the world.”
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