Overview

• The White House announced that President Trump has postponed the baseline 10% tariff increase to August 1 to allow more time for negotiations
• Taoiseach Micheál Martin said both sides are working on the fine details and remain optimistic about securing an outline framework agreement this week
• Tanaiste Simon Harris described the extension as an opportunity to agree a mutually beneficial deal and emphasised the need to provide certainty to consumers, businesses and industry
• EU negotiators are pressing for zero-for-zero tariff swaps and are particularly focused on obtaining carve-outs for the pharmaceuticals sector
• With daily transatlantic trade worth billions of euros, Brussels and Washington are racing to avoid disruptive rate hikes and stabilise market confidence before the new deadline