US tariff policy causing significant concern and uncertainty – ICOS

ICOS in a formal submission to the European Commission has stated that “As a matter of principle, food products should not be used as leverage as part of international trade disputes”.
The EU has developed a draft list of countermeasures in response to the imposition of US tariffs on steel and aluminium exports from the EU although the US President Donald Trump has put a temporary 90-day freeze on full implementation of the tariffs. However, in early April following a
request for feedback on the products included in the EU list of countermeasures, ICOS has called on the European Commission to de-escalate trade tensions with the US.
ICOS President Edward Carr said, “ICOS understands that the EU is placed in a very difficult situation. However, the European Commission must seek to avoid unnecessary escalation in trade tensions with the US. Fundamentally, we strongly oppose the inclusion of all food including dairy products, as part of the suite of EU countermeasures as a matter of principle. The inclusion of food products as trade countermeasures will have negative consequences for both the EU and US, leading to higher food prices and reduced availability for consumers.”
Mr. Carr continued, “The United States is an extremely important market for Irish dairy farmers and the co-operative sector. The value of Irish dairy exports to the US was over €830 million in 2024. High value butter and cheese exports are the key drivers of Irish dairy exports to the US, as well as
dairy powder ingredients and other products. It is vital that countermeasures introduced by the EU should be targeted, proportionate and avoid unintended consequences for farmers and their co-
operatives.”
Mr. Carr concluded “The trade policies of the US administration are creating significant uncertainty for global trade, and we are deeply concerned with the possibility of additional US tariffs, as indicated by the Trump Presidency. However, protectionist trade policies will ultimately prove to be counterproductive. Therefore, we urge the EU in its engagement with the US administration to prioritise constructive dialogue and to avoid unnecessary escalation.”