No breakthrough on EU trade, as US prepares to inform countries of tariff rates
There has been no immediate breakthrough in the EU-US trade negotiations, according to the EU’s trade commissioner Maroš Šefčovič, while Donald Trump plans to start sending letters informing trading partners of their tariff rates as soon as today. In a message posted on social media, Mr Šefčovič said he was returning to Brussels after talks […]
US multinationals to increase employee numbers in Ireland over next year
60% of US multinationals that are members of the American Chamber of Commerce Ireland plan to increase employee numbers here over the next year. The findings of a new survey carried out by the American Chamber also show that a further 32.5% of US companies say they will maintain their current workforce levels. Ahead of […]
Tax collected in first half of year up 7% to nearly €48bn
The amount of money collected in tax in the first half of the year rose almost 7% to €47.7bn compare to the same period last year reflecting strong economic growth despite concerns about the impact of US tariffs. Most major categories of taxation are performing ahead of or in line with expectations so far in […]
New ‘likely scam’ tag for texts comes into effect
A new ‘likely scam’ label will from today be added to text messages that users receive from companies or organisations that have not yet registered with the Commission for Communications Regulation (ComReg), in a bid to protect mobile users from falling victim to scams. Any organisations that fail to register with ComReg will have any […]
Further closures, jobs losses if VAT not reduced for food-led hospitality – RAI
The Restaurants Association of Ireland is warning of further closures and job losses if the VAT rate for food-led hospitality businesses is not reduced. The RAI said it is “essential” that the Government reinstates the 9% VAT rate, which is currently at 13.5%. The Government has pledged to reduce the rate. In its pre-budget submission, […]
Weaker US dollar creates additional hurdle for exporters
The US dollar has continued to weaken against the euro this week, presenting extra challenges for exporting firms. Having strengthened in the immediate aftermath of Donald Trump’s election victory last year, the dollar has steadily slipped against the euro since the start of 2025. Compared to mid-January, the euro is currently up almost 15% against […]
EU states told not to expect stable trade relationship with US
EU member states have been warned not to expect a stable trade relationship with the United States, especially on the issue of European pharmaceutical exports, even if both sides reach an agreement in principle ahead of next Wednesday’s deadline, when a pause on the imposition of US tariffs expires. In Brussels yesterday, EU ambassadors were […]
Euro zone inflation picks up to ECB target of 2%
Euro zone inflation edged up last month to the European Central Bank’s 2% target, confirming that the era of runaway prices is over and shifting policymaker focus to trade war-induced economic volatility. Inflation in the 20 nations sharing the euro currency crept up to 2% in June from 1.9% a month earlier, in line with […]
Water and electricity infrastructure need investment “at pace” to meet Government housing plans
Uisce Éireann and ESB Networks have told politicians on the Oireachtas Housing Committee that the electricity and water infrastructure needs investment “at pace” if it is to keep up with the Government’s plans to build 300,000 homes between now and 2029. The Uisce Éireann’s Asset Strategy Manager Angela Ryan said that it was “utterly critical” […]
EU meeting with Trump administration to avoid 50% tariffs
The European Union’s Commissioner for Trade Maroš Šefčovič is flying to Washington today for talks with senior Trump administration officials ahead of next week’s deadline for a trade agreement that would be needed to avoid 50% tariffs placed on EU exports to the United States. On 2 April, US President Donald Trump imposed large, across-the-board […]
Union leaders to debate four-day working week
A four-day working week, pay, remote working and artificial intelligence (AI) will be among the topics debated at the biennial conference of the Irish Congress of Trade Unions (ICTU) which begins in Belfast today. More than 600 union representatives from across the island of Ireland are participating in the three-day conference. A motion from the […]
Central Bank chief warns Finance Minister of VAT ‘vulnerability’
Central Bank Governor Gabriel Makhlouf has warned Minister for Finance Paschal Donohoe about the vulnerability of VAT as a source of revenue, as the Government plans to cut the rate of the tax for the hospitality and retails sectors. The Coalition promised to change the tax for those sectors in the Programme for Government following […]
World economy faces ‘pivotal moment’, central bank body BIS says
Trade tensions and fractious geopolitics risk exposing deep fault lines in the global financial system, central bank umbrella body the Bank for International Settlements, said in its latest assessment of the state of the world economy. Outgoing head of the BIS, often dubbed the central bankers’ central bank, Agustín Carstens, said the US-driven trade war […]
UK economy grew at fastest pace in a year in Q1 – ONS
Britain’s economy expanded at its fastest pace in a year in the first three months of 2025 as homebuyers rushed to beat a deadline on property purchases and manufacturers sped up output ahead of US President Donald Trump’s higher import tariffs. UK gross domestic product grew by 0.7% in the first three months of 2025, […]
Deal that reduced US tariffs on UK cars and aircraft parts comes into effect
The trade deal signed between US President Donald Trump and British Prime Minister Keir Starmer lowering some tariffs on imports from Britain has come into effect, the British government said today. British car manufacturers will now be able to export to the US under a reduced 10% tariff quota from an earlier 27.5%, while the […]
Petrol and diesel prices rise in June, AA analysis shows
Fuel costs are continuing to rise, with both petrol and diesel recording increases in June. The latest analysis from the AA shows that petrol now costs an average of €1.77 per litre, up 1 cent since May. Diesel has risen to an average of €1.69 per litre, up 1 cent month-on-month. “While the changes are […]
Why Irish family businesses are a trump card in chaotic economic times
Analysis: A focus on Irish family businesses makes sense at a time when world economies are an election, tax change or trade dispute away from disruption What if Donald Trump lures the multinationals out of Ireland? With ongoing threats of tariffs on EU imports and a broader agenda focused on reshoring American industry, the risk […]
July deadline for higher tariffs may be extended – White House
US President Donald Trump could extend a July deadline for higher tariffs on imports, the White House has said. Mr Trump had set 9 July as the deadline after which punitive tariffs on a range of EU goods will take effect, with the EU promising some €95 billion in retaliatory countermeasures. Asked if there were […]