Naoise Ó Cearúil (Kildare North, Fianna Fail) | Oireachtas source

I thank the Minister. I appreciate the immediate steps the Minister, the Taoiseach and the Tánaiste are taking but Ireland is uniquely exposed. Our export economy depends heavily on the US, which accounts for nearly one third of our total exports. Unlike Britain and Northern Ireland, which face a 10% tariff, we are hit with the 20% rate as members of the European Union, which puts us at a disadvantage. Key sectors such as agrifood and advance manufacturing are now vulnerable, not just in terms of competitiveness, but also in terms of employment, as the Minister mentioned. This morning, IBEC already announced a forecast of a 2% to 3% hit on exports in the short term.

There is a real risk in terms of job losses, investment slowdown and pressure on regional economies that rely on trade-driven growth, particularly around Cork, where people have been quite vocal in the news this morning. The situation is compounded by Northern Ireland's position under the Windsor Framework, which could see trade diverted away from the Republic. We cannot afford to be passive.

I appreciate that negotiations are a key part of this and that the Minister is playing a crucial role in that.

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