Paula Butterly (Louth, Fine Gael) | Oireachtas source

I welcome the opening statements by the Taoiseach and Ministers which recognise the threats faced by businesses and people at a global and national level. President Trump's "liberation day" did not come as a surprise to anybody. As the Minister for Finance outlined, deglobalisation has been under way for some time. One did not have to be a financial wizard to realise that the tariffs were simply not good news. Thanks to its strategic location, skilled labour force and cross-Border connections and links, County Louth is home to a diverse base of businesses. There is a blend of start-ups, established SMEs and international firms. Some 92% of businesses are SMEs which employ fewer than ten people, yet many are part of a complex supply chain, whose end product is exported across the globe. Over the past few days, I spoke to the managing director of Blueacre Technology.

This is a company that provides specialist components to the medical device industry. Its labour force is highly skilled as the company has invested significantly in upskilling and training its employees. As its CEO, Dr. David Gillen, pointed out, the company did not hang about for the last few weeks or for the announcement last week but tried to make changes to lessen the impact of any trade tariffs. It has been exploring other opportunities for some months, as it felt the trading relationship was about to change. It was changed forever last Friday when the company lost all its US orders. Dr. Gillen's main concern, however, is that should a tit-for-tat response deepen over a prolonged period, the company could be affected not only in the short term but it could permanently lose skilled staff.

The current situation is very fluid and the unpredictable nature of announcements from across the pond can leave the modelling of scenarios and even the implementation of solutions somewhat in flux. I welcome the news that we will continue to support and invest in our SMEs, but I urge that we are nimble in our response to their needs as they arise. Businesses and their employees face uncertainty. It is therefore our responsibility to reassure them and give them as much certainty in these uncharted times as is reasonably possible.

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