Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

This question relates to the potential impact on unemployment and tax revenues as a result of the announcement of US tariffs. We heard what Donald Trump had to say last night, with 20% tariffs being imposed on this State. Pharmaceuticals will not be the subject of a tariff, although we hold our breath in relation to that. We have the Economic and Social Research Institute, ESRI, and Department of Finance modelling on 25% tariffs and a reciprocal tariff from the EU and their impact in the context of job losses and potential income from taxation. Has any early work been done on what these tariffs will look like when it comes jobs? In all circumstances, the analysis shows that employment will continue to grow, even on the basis of the 25% tariff scenario. The modelling to which I refer estimates that the impact on the public finances would be approximately €500 million. Given what was announced yesterday, it appears that the impact will be somewhat less. Will the Minister elaborate on this matter?

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