ICBA Statement on Tariffs

The uncertainty surrounding the introduction of trade tariffs on Canada by the US is a significant challenge for our members. While these tariffs primarily target Canada-U.S. trade, Canadian companies operating in Ireland are not immune, and they are closely watching how things will unfold.

This situation brings back into focus what has come up previously with both Brexit and the previous Trump presidency. Namely, that both Ireland and Canada are similar in having a larger neighbour as the closest accessible export market. However, it is vital to also develop trading relationships with other markets, and avoid being overly reliant on just one.

There is a significant opportunity now to further deepen the Ireland-Canada trade relationship, which will in turn diversify and strengthen our economies, and ensure resilience in the face of evolving trade dynamics. The ratification of CETA by the Irish government has now become even more important and we urge the new government to sign on the dotted line, and give the Ireland Canada relationship the bedrock it deserves.