Micheál Martin (Cork South-Central, Fianna Fail) | Oireachtas source

It is far too early to make decisions in relation to that right now. We have to see where this lands. I do not believe the capacity to reshore pharmaceuticals in the short term is there. The issue in the short term is more the pausing of investment decisions for the future. That is what would concern me. American companies have grown strong in Ireland. This is a point we are making bilaterally to the US. They are an integrated part of a complex supply chain between here and the US. A lot of our products go to the US for finished product to be made there. There is a bit to go on this yet. I hope there will be negotiations following the EU response that can reduce tariffs significantly and that we can navigate our way through this with the objective of protecting jobs into the future.

It is a different structural issue economically that we have to come to grips with but again it is a bit early yet to almost be saying that certain job losses are inevitable. The pace of this is yet unclear. The impacts are unclear because I do not think we have witnessed such a universal application of tariffs before across the globe.

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