The Irish government has spent a lot of time trying to reassure voters that they have little to fear from any economic realignment with America. Now it is openly acknowledging the uncomfortable truth: that more than any other EU member state, Ireland is in a remarkably precarious position following Donald Trump’s imposition of tariffs.
Internal government economic models have indicated that the Irish economy could lose 60,000 jobs in the next 12 months as a direct result of Trump’s trade war – with many more losses expected to follow.
The reasons for Ireland’s unique and perilous exposure are varied. It is heavily reliant on US tech and pharmaceutical companies which have made Ireland their base.
One of the Trump administration’s primary campaign promises to his electorate was the repatriation, forcibly if necessary, of US companies which have made Ireland their main tax headquarters. Trump’s hawkish Secretary for Commerce, Howard Lutnick, has since described Ireland as one of his ‘favourite tax scams’ – and the one he most looked forward to dismantling.
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