Shay Brennan (Dublin Rathdown, Fianna Fail) | Oireachtas source

To sum it up, essentially, he is saying that the state or bloc imposing the tariff will be hit and, to a lesser extent, the recipient of the tariff will be hit. This would suggest that a policy of not retaliating in that regard would make a bit of sense. In addition, what is also contributing to short-term volatility and a pause on investment and decisions is the fact that we are in a state of uncertainty. As deadlines keep being extended and as the US Administration keeps throwing out random numbers, there is no end to that uncertainty. Coming to some sort of agreement would certainly bring an end to that uncertainty and allow us to draw a line under the matter at a level we do not know yet. Dr. McDonnell highlighted research on what a 10% tariff would imply. What percentage of a general tariff would be acceptable if we were to choose not to retaliate? Could we pick a figure today and move on from this with a reasonable amount of confidence that it would bring about a best-case outcome?