Taoiseach plays down fears on economic impact of Trump presidency

Simon Harris sought to calm growing concern surrounding Ireland's trade relationship with the US
Taoiseach plays down fears on economic impact of Trump presidency

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Taoiseach Simon Harris has sought a call with US president-elect Donald Trump to offer his congratulations on his "decisive" win in this week's election.

Mr Harris said while Ireland would seek to work with Mr Trump and his administration, just as during his first presidential term, it was important we remain "actively engaged" in major issues of global concern.

Speaking in Budapest, Mr Harris sought to calm growing concern surrounding Ireland's trade relationship with the US in light of Mr Trump's repeated promise to introduce tariffs on goods imported into the US from the EU, citing Mr Trump's business background.

"President Trump is a businessman, he is somewhat transactional, and I think he will understand that the relationship in terms of trade is a two-way relationship and a two-way relationship in terms of jobs," he said.

Whilst there are many, many jobs in Ireland as a result of US foreign direct investment, there are also now Irish jobs from Irish-owned companies in every single state in the United States of America.

Mr Harris is attending a meeting with fellow leaders from across Europe where he said they would begin to discuss the outcome of the US election and see how best to deal with the incoming administration.

He reiterated the warning the potential threat of transatlantic trade shocks had increased in the wake of Mr Trump's victory.

However, Mr Harris said the large multinational US companies that are currently based in Ireland would not necessarily withdraw if Mr Trump follows through with his promise to cut corporation tax to 15%.

"Companies locate in countries for many reasons, not just tax and at the end of the day, and I think President Trump will understand this as a businessman too. The European Union is a major market and a major opportunity for the US to do business with the EU and for the EU to do business with the United States," said Mr Harris.

"Ireland has always offered, not just a competitive tax offering, and not just worked at a global level in terms of settling those tax issues in terms of rates, but we have also offered talent, we have also offered access to the European Union, we have also offered being a country that can bridge the Atlantic in terms of the US and the EU and a country that has been a gateway into the massive market that is the European Union."

Looking beyond trade, the Taoiseach said the world cannot press pause or go backwards on climate over the coming years.

"The climate emergency is real, the science is real and no political ideology can trump that reality in relation to the science," Mr Harris said.

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