A trans-atlantic trade war has been averted, with a new tariffs deal struck by Europe and America.
US President Donald Trump and European Commission President Ursula von der Leyen have agreed a 15% rate on EU exports to the US.
However, a zero-for-zero arrangement has been agreed for aviation, while Mr. Trump has suggested the pharma sector which employs over 20,000 people in Cork will be dealt with separately.
He says the deal will see the EU dramatically increase its trade with America:
"So we have a tariff of 15%. We have the opening up of all of the European countries, which I think I can say were essentially closed. I mean, you weren't exactly taking our autos and you were not taking our agriculture. For the most part it was closed and now it's open and it's open for our companies to do a good job and I think you'll like them."
