The sixth meeting of the Government Trade Forum will take place today (Wednesday, July 2), exactly one week from the July 9 tariff "deadline" set by US President Donald Trump.

In early April, Trump announced a raft of tariff increases on US trading partners around the world. This included a blanket tariff increase of 10% across all trading partners, but higher rates on some exporters to the US, including a 20% tariff increase on the EU.

Later in April Trump paused all but the blanket 10% tariff, but has said that July 9 is the "deadline" by which that pause will end, meaning the higher tariffs will come into effect from that point.

Over the last three months, the EU and US have been in negotiations to get a new trade deal in place before the onset of the full tariff rate.

Ahead of the deadline, Tánaiste and Minister for Foreign Affairs and Trade Simon Harris will chair the meeting of the Government Trade Forum today, which will have a strong focus on protecting Irish jobs and the economy, according to the Department of Foreign Affairs and Trade.

The Government Trade Forum has several members, including a number agri-sector stakeholders, namely the Department of Agriculture, Food and the Marine, Bord Bia, Ibec (which includes food processors) and the Irish Farmers' Association (IFA).

The Tánaiste will tell the meeting that there is "now positive momentum towards an outline deal".

However, he will also say that the baseline tariff of 10% will be "the new normal".

Notwithstanding this, work is ongoing at an EU level to secure "zero-for-zero" tariffs (i.e. no tariffs placed by either trading partner) in a number of areas, according to Minister Harris.

The Tánaiste will brief the forum on his recent conversation with US trade representative ambassador Jamieson Greer, and his discussions with European Trade Commissioner Maroš Šefčovič and with his EU and other counterparts. 

The Minister for Finance, Paschal Donohoe, will provide the forum meeting with an analysis on the impact of tariffs and trade disruption to date. The meeting will be an important opportunity to hear from key stakeholders on the tariff landscape, Minister Harris' department said.

Speaking ahead the meeting, the Tánaiste said: “I think the most important thing we need to see in the next few days is certainty.  All of this uncertainty and talk of extension of deadlines is bad for economic confidence.

"We cannot ignore the fact that every single day the trading relationship between the EU and the US is worth more than €4 billion. We are interdependent," Minister Harris added.

He called for a "concerted effort" by both the US and EU to reach a negotiated solution, an agreement, or "at the very least" a framework agreement that can bring certainty for businesses in Ireland, the EU and US and that can "protect jobs here in this country, investment, and can also avoid a high level of tariffs".

"There is no doubt there are uncertainties and there may be difficult decisions ahead. We will have to be nimble in our responses. For this reason, I appreciate the opportunity to get forum members’ input and views today," the Tánaiste said.

Today's meeting will also consider a "work plan" for the forum, which will outline how the forum will continue to focus on ongoing trade issues while also taking a longer-term strategic view.

The forum meeting will receive an update from Minister of State for trade promotion Niamh Smyth, on the development of the government’s new Action Plan on Market Diversification.

Minister Harris said this action plan "is an opportunity for new ambition in our approach to market diversification by enhancing Ireland’s economic and trading relationships with new and emerging markets, and also working in established markets where there is value to be maintained and potentially more value available".

The Tánaiste said this action plan will be brought before cabinet in the coming weeks.