Central Bank governor: US-EU trade deal will 'dampen' growth
Gabriel Makhlouf said there was insufficient detail to provide a considered analysis of the deal but these tariffs will require a mix of absorption by firms, which means reducing their profits, or increasing the cost of these goods for US consumers. File photo: Eamonn Farrell, ©RollingNews.ie
The US imposition of 15% tariffs on EU goods will “dampen economic growth” although it will be partially offset by “reducing uncertainty” and the likelihood of a more damaging trade war that has dominated the economic environment since the start of the year, Central Bank of Ireland governor Gabriel Makhlouf has said.
On Sunday, the EU and US agreed the framework of a trade deal which will see tariffs of 15% placed on imports from the bloc to the US.
