Rose Conway-Walsh (Mayo, Sinn Fein) | Oireachtas source

Since President Trump began his second term of office the world as we know it has become a more volatile place. His early statements about turning Gaza into the Riviera of the Middle East through a policy of ethnic cleansing shows just what absurd thought processes we are dealing with. Combative statements dominate American foreign policy. That is now finding its way into economic policy. It is well known that Trump's imposition of arbitrary tariffs on products manufactured in countries across the globe will bring pain to the American economy and higher prices for American citizens. The EU is a massive trading bloc responsible for two thirds of foreign direct investment, FDI, into America. These ill-considered tariffs by President Trump will mean that America will potentially have to increase its debt ceilings with all of the associated implications for American GDP.

The only outcome will be the suffering of Trump's own citizens. So much for Making America Great Again - great for who you might wonder. So too would be the outcome of this State if the EU rushes headlong into the pursuance of counter tariffs. The escalation of prices of normal goods in an environment where people can ill-afford the most recent price hikes would be hugely damaging to Irish households. That is why we in Sinn Féin across the island have been calling for a measured approach from the Government aimed at de-escalating the situation. I urge the Government to approach these choppy economic waters calmly and in the best interests of all of the citizens of Ireland.

The possibility of differentiation in tariffs on the island further compounds the threat to our national economy. Clarity is required regarding the implications of the tariffs in the North under the terms of the Windsor Framework. There can be no economic hard border on the island of Ireland.

Of course, if we governed our own affairs we would not be facing this discrepancy. We would be facing this hurdle in the full strength of our national economy rather than with one hand tied behind our backs. However, to mitigate, I urge the maximum level of engagement between the Government and the Executive. I welcome the engagements that have taken place so far. As was said, the North-South Ministerial Council should be convened immediately. Our island economy is inextricably linked in agriculture and tourism and across the supply chains. Food safety and food security are becoming increasingly important as well.

During the Brexit negotiations we, with our allies in the EU and the US, ensured there was no hard border on the island of Ireland. The same diligence must be applied in this scenario in order to protect the prosperity of everyone on the island. In the face of a potential slowdown in our economy, I urge the Minister to speak with his ministerial counterparts to ramp up public expenditure to address the deficits in infrastructure.

There must be a sense of urgency and purpose if we are to have any chance of remaining competitive for FDI and ensuring the growth of our indigenous businesses. That means housing, water, energy security, transport links, research and development, investment in upskilling, in lifelong learning and in using the national development fund for what it was intended to be used for. We can never again ask the most vulnerable of our citizens to endure the brunt of economic hardships. The Government did this following the bank bailout. This should never be done again. Do not make the ordinary Irish workers, the disadvantaged, the sick and the elderly, Trump's victims.

Now is the time for the Government to protect the interests of those living in Ireland and the young people we want to encourage to come home. We have to have housing and infrastructure for them. We need them here and we owe them. In the immediate term that means ensuring the EU is available to sit at the table with the US Administration. There are long and mutually beneficial trade relationships between Ireland and America. From the ashes of Trump's tariffs there must be an open door for these to be maintained and cultivated once more. This can be achieved by increasing at this time our diplomatic efforts across the United States. The value of the relationship we have built over decades is critical. We in Sinn Féin will continue our engagement with US politicians, civic society and with our own diaspora. We do not know what the next move of this unpredictable American Administration will be and we can draw some hope from the fact that some of the Republican Party are deeply troubled by the direction their President is taking. What we can control is our response. The Government must ensure the EU remains calm in the face of disruption and provocation.

We must also use our own voice. We must protect jobs, businesses and our public finances and above all we must protect the workers and families from the reckless and short-sighted economic policies that we have been presented with.

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