Richard Bruton (Dublin North Central, Fine Gael) | Oireachtas source

The truth is that economies need growth strategies. In the case of Ireland, our strategy has been very much based on export-led recovery. In our dealings with the United States 70%, or 125,000 people, are employed by US companies in Ireland. In the case of Irish companies, some €2 billion worth of trade is done with US companies. Both categories have grown rapidly. Ireland has used its trade links in the past few years to beat the pressures exerted by declining domestic demand and on the public finances by the crisis in banking. We have done so successfully and the growth strategy places Ireland at the top of the league in growth in employment, GDP and exports. We are managing it successfully. The reduction in trade barriers in the United States is good for Irish people because we have very strong trade links and can build on reduced tariffs and non-trade barriers and the better co-ordination of regulations. That is where we can gain and the model seeks to examine the impact of a reduction in tariffs and non-trade barriers. It naturally implies gains for Ireland which trades heavily in these markets.

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