The Government is taking necessary steps to prevent a recession, focusing on a new fund for Irish businesses adversely affected by impending US tariffs. President Donald Trump's push for a 15pc minimum tariff rate on all EU goods has raised concerns about stark economic impacts on Ireland. Despite the new proposed rate being lower than a feared 30pc tariff, the anticipated repercussions for jobs and the economy remain significant, prompting urgent action from the Government to mitigate these effects.
The Government is planning to do "everything it possibly can" to avoid a recession, as the Sunday Independent can reveal details of a new fund for those Irish businesses worst affected by US tariffs.
With US president Donald Trump pushing to impose a 15pc minimum tariff rate on all EU goods, the Government is now bracing for "quite stark" impacts on the Irish economy.
Even if the new rate is lower than the "devastating" 30pc tariffs Trump previously floated, the effects are still expected to be significant.
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