Trump’s trade war could affect Irish consumers
The war of words and threat of a trade war between the US and, well, everybody, is threatening to damage imports and drive prices up of basic items here in Ireland, according to a report by the Irish Times.
29 June 2018 | 0
You may have seen the news about US president Donald Trump’s trade war, which saw high-profile US brands like Harley Davidson and Jack Daniels opt to move production outside the USA. Experts have warned, however, that while the squabbling is currently over big-ticket imports and exports such as steel and oil, further action is expected that could have a much more direct effect on consumers here in Ireland.
The Irish Times reports that tariffs placed on a wide range of US goods are likely to affect Irish consumers in unexpected ways. Progressive Distribution, a sports equpiment distributor based in Dublin, was forced to cancel two large shipments from the USA due to the tariffs “eliminating the commercial viability” of the shipment. Shane Cronin, Progressive Distribution’s MD, said that the shipments could had an estimated retail value of €160,000.
Meanwhile, food products for import from the US may be driven up too. Corn or maize imports, intended for use in the supply chain for sandwiches, for example, might be hit, resulting in them being classed as premium items. As if a sandwich in Dublin wasn’t expensive enough already!
The report states that the Top 10 items by broad category affected by trade sanctions will be:
- Alcoholic beverages
- Non-alcoholic beverages
- Motorbikes and boats
- Playing cards