Taoiseach Micheal Martin has pushed back against Donald Trump’s proposed tariffs, warning they are "not conducive" to economic growth.
Trump has announced plans to impose a 25% tariff on all steel imports to the US, with additional duties on aluminium.
Martin acknowledged that if Trump proceeds with these tariffs, Ireland could experience "some secondary effects."
Acknowledging political shifts in both the US and Europe, Martin noted that adapting to changes in trade policy is essential.
"After elections, change is inevitable. The key question is how we respond and adjust to this evolving environment," he said.
However, he remained optimistic that core economic principles—such as trade, supply, and demand—will endure.
According to UN Comtrade data, Ireland exported $61.54m (€59.6m) worth of iron and steel products to the US in 2023.
Addressing concerns over the impact on Irish exports, Martin emphasised Ireland’s commitment to free trade.
"We believe tariffs do not support economic growth. Ireland is a small, open economy that thrives in a free trade environment, which has contributed to the greatest rise in global prosperity in recent decades," he said.
While Ireland may not be directly affected, Martin noted that "some secondary effects" could emerge.
He highlighted that the European Commission would engage with the US administration on trade matters, adding that further developments remain to be seen.
Martin also underscored Ireland’s participation in the Organisation for Economic Co-operation and Development (OECD) process, advocating for a global approach to taxation.
Speaking from Brussels, where he held bilateral meetings with European Parliament President Roberta Metsola and European Council President António Costa, the Fianna Fail leader stressed the importance of maintaining a "positive" trading relationship with the US.
"The US has essentially stepped back from parts of the OECD agreement, but ultimately, global consensus is the only viable path forward," he said.
"The US-EU trading relationship is one of the largest in the world. Preserving this partnership is crucial, as it creates jobs on both sides of the Atlantic, including in Ireland."
Expressing confidence in the European Commission’s handling of trade negotiations, Martin cautioned against premature reactions.
"The Commission is engaging with the US administration, and it’s important not to respond before any concrete actions are taken," he said.
He also highlighted the complexities of global trade, emphasising the high level of interdependence in modern supply chains.
"Many products are assembled from components made in multiple countries. The Covid-19 pandemic and vaccine production showed how deeply interconnected supply chains are—one vaccine alone involved contributions from up to 50 countries."
Photo: Micheal Martin is welcomed by the President of the EU Council Antonio Luis Santos da Costa. (Photo by Thierry Monasse/Getty Images)
