A trade war between the US and the EU could cost Ireland more than €18bn (£15bn), trigger waves of job losses and cause US multinationals to relocate, according to a report co-authored by the Irish government.
Ireland’s GDP could shrink by 3.7% over the next five to seven years under the worst-case scenario, in which Donald Trump imposed 25% tariffs on all exports on the EU and the EU retaliated with counter-tariffs, the study carried by the Economic and Social Research Institute (ESRI) found.
