LAST UPDATE | 5 Feb

TÁNAISTE SIMON HARRIS is fast-tracking plans to set up a US-based trade advisory body over fears the US may slap tariffs on Irish exports.

Harris, who is also Minister for Foreign Affairs and Trade,will today bring two proposals to Cabinet which seek to safeguard against any potential trade threats to Ireland from the United States.

He will ask Cabinet to sign off on a proposal to create a new US-based body to advise the government how to deal with potential policy changes introduced by US President Donald Trump.

The body will also advise on economic risks and opportunities, it is understood.

Earlier this week, Trump hinted that the EU could be next to be hit with tariffs by the US after he slapped them on Mexico, Canada and China last week.

Given that the US is Ireland’s largest trade and investment partner, the possibility of the EU being targeted has set off alarm bells in the Irish government and in exporting businesses across the country. 

It is understood Harris’s proposed new body would be known as SEAP – the Strategic Economic Advisory Panel.  

The body will be made up of “influential professionals” drawn from a range of business sectors operating in the US. 

In addition to this, Harris is also seeking Cabinet approval to set up a separate consultative group on international trade policy, likely made up of business representative groups, state agencies and relevant government departments.

This group, which will meet every two months, will facilitate dialogue with key stakeholders engaged in international trade.