US President Donald Trump at a commencement ceremony at West Point Military Academy in New York yesterday. Photo: Reuters
US President Donald Trump’s threat to tear up transatlantic trade with massive tariffs on European goods could halt most commerce between the EU and America, with “very damaging” consequences for Ireland, experts have warned.
Last Friday, Trump took to his social media site, Truth Social, and fired off a furious post threatening the EU with a “straight 50pc tariff” on goods imported from the bloc to America. Such a move would devastate the highly lucrative levels of trade between the parties, a relationship once worth €4.4bn every day.
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