Government trade forum examines measures to mitigate global economic uncertainty
The Government trade forum will be briefed on the necessity to prioritise energy, water, transport, and housing projects to counter global economic uncertainty.Public expenditure minister Jack Chambers is currently putting together a revised National Development Plan (NDP), which will allocate billions of euro from the Apple funds into capital projects that can be delivered to promote economic growth.It is expected Mr Chambers will tell the forum, which includes representatives across business, agriculture, tourism, and trade unions, that it is more important than ever to "control the controllables" through strategic allocation of funds to departments where work on projects can commence almost immediately.However, the final funding allocations will not be made until the days before the NDP announcement later this month, as negotiations continue.Finance minister Paschal Donohoe will update the forum on the wider economic impact of tariffs and progress being made ahead of the July 9 deadline for negotiation talks with the US.There is "positive momentum" towards an outline deal with the new normal becoming a baseline tariff of 10% and it is understood the analysis will have a focus on this.Speaking ahead of the forum, Tánaiste Simon Harris said there is no doubt that the days and weeks ahead will see uncertainties and difficult decisions.Ireland will have to be nimble in its responses, Mr Harris said as he emphasised the importance of reaching an agreement that has zero-for-zero "or as near as possible in as many areas as possible".It is important for businesses that have had to contend with months of turbulence that an agreement, or at the very least a framework agreement, can be reached, he said.There needs to be a solution "that can bring certainty for businesses operating in Ireland, in Europe, in the US, that can protect jobs here in this country, investment, and can also avoid a high level of tariffs that are bad for people in terms of the price of goods and services," said Mr Harris.
