Irish premier Micheal Martin has expressed strong support for a new trade agreement between the European Union and the United States, which establishes a 15% tariff on most EU imports to the US.

While the new tariffs will complicate trade, Martin believes the deal creates stability that could enhance the US-EU relationship, which is crucial for the global economy.

Martin stated that the deal provides clarity and predictability to the US-EU trading relationship, benefiting businesses, investors, and consumers while protecting jobs in Ireland.

Deputy Irish premier Simon Harris welcomed the agreement, emphasizing the need for clarity and certainty for businesses in the context of the integrated trading relationship valued at over one trillion euros between Ireland and the US.

The agreement will require further details to be fleshed out in various sectors, including pharmaceuticals and aviation, as the impact on Irish businesses is assessed.

Harris expressed regret over the baseline tariff of 15%, noting that while concerning, the deal brings much-needed certainty for jobs, growth, and investment.

EU Commissioner Michael McGrath described the meeting that finalized the agreement as a 'significant and decisive moment' following extensive negotiations aimed at securing a beneficial deal for European businesses.

The meeting was characterized by a commitment to substantive discussions aimed at reaching a comprehensive agreement that would mitigate the uncertainties affecting trade and investment.

Martin acknowledged the complexity of the negotiations leading to the deal and thanked both teams involved, emphasizing the need to study the agreement's implications for Irish businesses.

He noted that while the tariffs will increase trade costs, the agreement marks a new era of stability in EU-US relations, vital for the global economy.

Harris acknowledged the importance of having clarity on the EU-US trade relationship for jobs and growth despite the concerns over the baseline tariff.

McGrath indicated that the agreement requires further discussions to address specific sectors such as pharmaceuticals and aviation, illustrating the ongoing complexities of the negotiations.