European countries are not all equally exposed to the US market and so will not suffer the same consequences should President Donald Trump go ahead with his threats to impose 30-percent tariffs on the European Union.

BRUSSELS, July 15 (Reuters) - The 30% tariff on European goods threatened by U.S. President Donald Trump would, if implemented, be a game-changer for Europe, wiping out whole chunks of transatlantic commerce and forcing a rethink of its export-led economic model.

After European Union leaders said they would keep negotiating instead of immediately retaliating against President Trump’s latest threat, businesses remain unable to develop long-term plans.

Ireland's finances are in "good condition", according to the Minister for Finance, who said he is confident the country can rise to the challenge of US tariffs.

President Donald Trump announced new tariffs on imports from the European Union (EU) and Mexico, aiming to improve trade deals and national security, while economists warn of potential price increases.

European officials are increasingly resigned to a 10% rate on "reciprocal" tariffs being the baseline in any trade deal between the United States and the European Union, five sources familiar with the negotiations said.

The European Union is pushing back against US tariff threats, signaling potential retaliatory measures if negotiations fail. The impending tariffs, set by President Trump, could significantly impact transatlantic trade,

The US Bureau of Labor Statistics (BLS) reported that the Consumer Price Index (CPI) climbed 2.7 per cent year-over-year in June, up from May’s 2.4 per cent rise