David McNamara: Irish economy shows strength in adversity
EU foreign policy chief Kaja Kallas with finance minister and president of the Eurogroup Paschal Donohoe. Ireland’s economy has proven robust to global uncertainty and an escalation in trade tariffs, leading to a stronger than previously expected outlook for the domestic economy in AIB’s latest Economic Outlook. Picture: AP Photo/Francois Walschaerts
Ireland’s economy has proven robust to global uncertainty and an escalation in trade tariffs, leading to a stronger than previously expected outlook for the domestic economy in AIB’s latest Economic Outlook.
In recent months, the uncertainty created by the imposition of US tariffs has begun to dissipate. The US has agreed to a succession of trade deals, including the 15% baseline on EU exports. Amidst these tentative moves towards trade settlements, international forecasters such as the IMF have been revising up expectations for global GDP growth, following downgrades to forecasts in the immediate aftermath of US president Donald Trump's ‘Liberation Day’ in April.
