Oireachtas Joint and Select Committees

Wednesday, 16 July 2025

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach

The Impact of Tariffs on the Irish Economy: Nevin Economic Research Institute

2:00 am

Photo of Mairéad FarrellMairéad Farrell (Galway West, Sinn Fein) | Oireachtas source

Níl aon leithscéalta faighte againn. We have not received any apologies. Is mian liom na riachtanais bhunreachtúla seo a leanas a mheabhrú do chomhaltaí agus páirt á glacadh acu i gcruinnithe poiblí. Caithfidh comhaltaí a bheith i láthair go fisiciúil laistigh de theorainneacha shuíomh Theach Laighean. Ní cheadóidh mé do chomhaltaí páirt a ghlacadh i gcruinnithe poiblí nuair nach bhfuil siad ag cloí leis an riachtanas bunreachtúil seo. Mar sin, má dhéanann aon chomhalta iarracht páirt a ghlacadh ó lasmuigh den suíomh, iarrfaidh mé orthu an cruinniú a fhágáil. Maidir leis seo, iarraim ar chomhaltaí a dheimhniú go bhfuil siad i láthair laistigh de phurlán Theach Laighean sula ndéanann siad aon ionchur sa chruinniú ar MS Teams.

Fiafraítear de chomhaltaí cleachtadh parlaiminte a urramú, nár chóir, más féidir, daoine nó eintiteas a cháineadh ná líomhaintí a dhéanamh ina n-aghaidh ná tuairimí a thabhairt maidir leo ina ainm, ina hainm nó ina n-ainmneacha ar shlí a bhféadfaí iad a aithint. Chomh maith leis sin, fiafraítear díobh gan aon rud a rá a d’fhéadfaí breathnú air mar ábhar díobhálach do dhea-chlú aon duine nó eintiteas. Mar sin, dá bhféadfadh a ráitis a bheith clúmhillteach do dhuine nó d'eintiteas aitheanta, ordóidh mé dóibh éirí as an ráiteas láithreach. Tá sé ríthábhachtach go ngéillfidh siad don ordú sin láithreach. I advise members of the constitutional requirement that they must be physically present within the confines of the Leinster House complex in order to participate in public meetings. I will not permit a member to participate where he or she is not adhering to this constitutional requirement. Therefore, members who attempt to participate from outside the precincts will be asked to leave the meeting. In this regard, I ask any member participating via MS Teams to confirm that he or she is on the grounds of the Leinster House campus prior to making a contribution to the meeting.

Members and witnesses are reminded of the long-standing parliamentary practice to the effect that they should not criticise or make charges against any person or entity by name or in such a way as to make him, her or it identifiable or otherwise engage in speech that might be regarded as damaging to the good name of the person or entity. If their statements are potentially defamatory in relation to an identifiable person or entity, they will be directed to discontinue their remarks and it is imperative that they comply with any such direction.

Cuirim fáilte roimh Theach Oscail ó Contae an Chabháin. I welcome Teach Oscail from County Cavan, who Senator Tully has brought in to witness our proceedings today.

Today the committee will engage with Dr. Tom McDonnell from the Nevin Economic Research Institute, NERI, on the impact of tariffs on the Irish economy. The imposition of tariffs on the EU by the Trump Administration will significantly impact trade between the EU and the United States of America and has implications for the Irish economy. The USA is one of Ireland's most important trading partners and a key market for our exports, particularly for pharmaceuticals, medical devices, and food and drink products. The 10% tariff for EU products entering America announced by President Trump earlier this year will drive up the price of certain Irish exports to the US and potentially reduce future economic growth and job creation. The 30% EU tariff rate indicated by President Trump last week could have a significant adverse impact on Ireland with potential job losses in those areas that are proposed to be subject to tariffs, such as the drinks industry. This could lead to reduced revenues to the Exchequer. It is imperative that the European Commission and the Trump Administration come to a comprehensive trade agreement in the coming weeks that avoids the threat of 30% tariffs, or even higher, from next month. In this context, I welcome Dr. McDonnell to today's meeting and invite him to make his opening statement.

Comments

No comments

Log in or join to post a public comment.