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The Irish Association of Investment Managers (IAIM) welcomes the recent agreement between the European Union and the United States on a new tariff framework, announced following discussions between President von der Leyen and President Trump. This deal, reached ahead of the August 1st deadline, provides a much-needed measure of certainty for businesses operating within the world's most integrated trading relationship.
IAIM recognises the critical importance of avoiding a spiralling trade conflict with our largest trading partner and closest ally. A potential escalation to 30% tariffs and the imposition of EU countermeasures would have introduced significant instability and negative repercussions for Irish, European and American businesses, impacting jobs, growth and investment across the board.
"The investment management industry thrives on predictability and stable global markets," stated Michael D’Arcy, CEO of IAIM. "This agreement, while not without its challenges, delivers a vital framework that ensures the continued trading relationship between the EU and the US. It averts the disruption that a full-scale trade war would have inflicted on our economy."
Ireland plays a pivotal role in this transatlantic economic relationship. The certainty provided by this agreement allows investment management firms to plan with greater confidence. IAIM will continue to closely examine the details of the agreement as further information emerges.
IAIM commends the dedication of Commission President von der Leyen and the EU negotiating team for securing this framework deal. Our focus remains on fostering collaboration among our members and advocating for a fair and competitive environment that supports strong investor outcomes and contributes significantly to the global economy.