Mayo anxieties growing over planned Trump tariffs and their implications
Fears are growing in Mayo over US President Donald Trump’s planned announcement next Wednesday in respect of placing tariffs on European goods.
While the concerns relate to the economy in general, there is particular anxiety over the impact on workers employed by US companies based in Ireland, including a number in Mayo.
Former Taoiseach and Mayo TD Enda Kenny said "we are in an unpredictable and dangerous period globally."
Asked by the Sunday Independent about the potential threats facing Ireland, including threats to the tech and pharmaceutical sectors, he said: “I think Finance Minister Jack Chambers has been very clear about this, that complacency is always an enemy and we have to be vigilant.
"I think he’s taken the right line on this. Money doesn’t grow on trees and we have come a long way in 10 years and we have to protect that and mind it in the best way that we can.”
Asked if Ireland and Europe will have to concede some ground in transatlantic negotiations, he said: “You’re never going to get 100% of what you require.”
Mayo Deputy Paul Lawless Ireland is the most exposed country in the European Union to the US tariff war.
He elaborated: Ireland exports more than any other country in Europe to America. Last year, Ireland exported €72 billion worth of goods to the US. Some €58 billion worth of those were pharmaceutical products.
"President Trump has explicitly stated that he wants to see the pharma industry back in the US. It is very unclear what influence this government has in terms of negotiating through the European Union in this regard.
"FDI is a good thing. It has been really positive for this country, but successive governments have placed all our eggs in one FDI basket.
"We have forgotten about small indigenous businesses throughout the country. We need to focus on small- and medium-sized businesses and entrepreneurship within the country and support that sector.
"In my constituency, the centres of so many towns in Mayo have been left derelict as a result of businesses closing.
"We need to support businesses and ensure they can survive. There are significant costs involve in running a small business.
"Rates are very high and businesses get nothing in return for them. There are also insurance costs and many other costs."
Dublin Social Democrats TD Cian O'Callaghan said President Trump’s toxic love affair with Ireland could cost the nation dearly.
"Given that pharma comprises approximately €100 billion or 45% of our goods exports this is hugely concerning.
"The pharma industry and the people who work in it are a critically important part of our economy. We know tariffs will have a negative impact on Ireland.
"However, the ESRI warned that the impact could be much worse if pharmaceutical products are targeted.
"Are we now veering towards the worst-case scenario the government has modelled? That could mean the loss of up to 80,000 jobs and billions of euro in lost trade.
"Nobody wants to be alarmist or cause unnecessary worry but we must be prepared for whatever economic threat is coming. We must do whatever we can at home and through our engagement with the EU to cushion the blows."
However, Ryanair CEO Michael O’Leary believes that Trump’s views on tariffs — even if they go ahead — are ultimately doomed to fail.
“Trump is kind of mercurial — tariffs on, tariffs off — he changes his mind. There isn’t any great strategy there. Ultimately, tariffs are bad for consumers because tariffs are paid by consumers," he told the Sunday Independent.