European Commission must safeguard against potential job losses arising out of Trump tariffs – Lynch

The European Commission must increase funding available under the European Globalisation Adjustment Fund (EGF), to mitigate against tariffs likely to be imposed on Ireland and the European Union this week, a Fine Gael Senator has said.

Senator Eileen Lynch said: “The European Globalisation Adjustment Fund aims to support EU industries and workers impacted by economic disruptions and has been utilised by Ireland on 10 previous occasions. 

“With job losses one of a number of potential consequences of these tariffs, I am calling on the European Commission to increase the funding available and have raised this matter with my Fine Gael MEP colleagues.

“Ireland is likely to be the EU country most severely affected by the imposition of these tariffs, particularly our pharmaceutical industry and potentially our food and beverage industries. It is vital that we are fully prepared for the fallout of the tariffs imposed by the U.S. administration, and that includes supporting and protecting workers who may be affected.

“The EGF, established to assist workers who have lost their jobs due to changes in global trade patterns, has been an invaluable resource in mitigating the social and economic effects of globalisation. However, with the heightened uncertainty in global trade relations exacerbated by the Trump-era tariffs, it is now more urgent than ever to strengthen the fund to ensure comprehensive support.

“Considering that the full fallout from these tariffs may not be felt for a number of years yet, I am also calling on the Commission to bolster the EGF in their proposal for the Multiannual Financial Framework post-2027, so that Europe is well prepared for whatever volatility may come in this area in the coming years,” Senator Lynch concluded.