McEntee warns of major economic fallout as Trump threatens tariffs

Minister for Foreign Affairs Helen McEntee has condemned US President Donald Trump's threat of tariffs on eight European countries, warning that it could unravel a key trade deal between the EU and the US, struck last year.

Speaking ahead of the Cabinet meeting today, McEntee labelled the move "deeply regrettable" and highlighted the potential economic chaos it could create.

Trump has warned that starting February 1st, he will impose 10% tariffs unless European allies agree to his proposal to buy Greenland, a semi-autonomous Danish territory. He has also threatened military action if his demands are not met.

McEntee stressed that the EU’s support for Greenland and Denmark remains steadfast, and if tariffs are imposed, the EU could introduce €93 billion in countermeasures. "This would not only damage the EU economy but risk destroying the trade agreement between the EU and US," she said.

Taoiseach Micheál Martin also expressed hope that "common sense will prevail" and warned that a trade war would be catastrophic for workers on both sides of the Atlantic.

Tánaiste Simon Harris, currently in Brussels for a Eurogroup meeting, added that the coming days will be "crucial" for de-escalating tensions and avoiding "dire consequences" for the global economy.