Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

I thank the Deputy for raising the significant announcements that were made during the night. The Government is initiating a number of steps, but the Deputy will understand that I need to be honest and clear in setting expectations of what we can do. This is a deeply serious issue. Unfortunately, it is a significant moment in how global trade is conducted and what that can mean for jobs, income and prices all over the world, most particularly the country that the Deputy and I are trying to play a role in guiding through all of this.

As to our engagements and proactivity, it has been in publishing our best estimate regarding what it will mean for our economy. I have been engaging with fellow finance ministers in the EU and across the world on this. A further meeting on this situation will be happening at the end of next week in Warsaw where we are being hosted by the Polish Presidency of the European Union. The Tánaiste and Minister for Foreign Affairs and Trade will be engaging with fellow governments as early as Monday. Before that happens, he has convened a meeting of our trade forum in which all Ministers who are involved in this will be present along with all of the representative bodies. I believe that meeting will happen as soon as early tomorrow afternoon, given the seriousness of this issue.

Regarding the supports that we can make available to companies and how we engage with them, that engagement will be through such organisations as the IDA and Enterprise Ireland, EI. We are talking about trade, for Ireland alone, of tens of billions of euro. If that was affected in any way, no Government could put in place measures that could take the place of that trade. What we will have to do is engage with companies individually to see how we can assist them in finding new markets or dealing with negotiation that awaits.

It is very serious, but by working within our economy, we will find ways of adjusting and responding to the difficult announcements of the night.

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