Erin McGreehan (Louth, Fianna Fail) | Oireachtas source

We are in precarious times, as the Minister knows, and there is incredible uncertainty and uneasiness for anyone involved in business in this country. The new trade policy by the US has shaken the world and we need to adjust and adapt to this ever-changing landscape in which we are finding ourselves living. As we all have articulated today, as a country, we have enjoyed decades where global trade has increased, new markets have opened up and supply chains are being ever-more diverse and complex. Ireland is an example of how a globally interlinked economy can drive up growth for the betterment of us all. Unfortunately, with the US tariffs now in place we will absolutely suffer.

I am hugely concerned for our exporting business. A 20% blanket tariff on most goods will have a huge effect on Irish investment and on the wider economy. It represents a huge challenge for Irish exporters to the US across all sectors. I am already hearing from some who are seeing orders from the US slowing down or even drying up entirely, putting valuable skilled jobs at risk. I hear of rumours of companies going to a three-day week and there is more to come. We have yet to see the approach by the US and what it will do for the pharmaceuticals, semi-conductors and the other sectors excluded from the so-called reciprocal tariffs.

I am thinking of my constituents in County Louth and the impact it may have on the strong and vibrant economy we have in the county. Cooley Distillery and Teelings Distillery are distilleries selling the highest quality of whiskey that is enjoyed all over the world. The Irish Whiskey Association has said that these tariffs could bring devastating impacts to the spirits sector as the US represents 41% of Irish drinks exports every year with total value of the market calculated at €865 million annually. These are local jobs that have provided fantastic, long careers for many of my neighbours and friends in County Louth. These are ordinary people who will suffer at the hands of Trumps ideology. I am thinking also of one of our largest employers in County Louth, WuXi Biologics, a huge pharmaceutical company. When there is no certainty, it can hamper development and growth and prevent the establishment of the new companies.

There are loads of uncontrollables. I am asking the Minister to control the stuff we can control. Will the Minister expand and enhance what Enterprise Ireland is currently doing? Will he expand the eligibility criteria and enhance the level of funding to companies that want to export to new markets? I also ask that Enterprise Ireland would take the lead and support the small exporters who do not have that in-house capacity to do those things and who are now potentially in panic mode as they see orders reduce from the United States.

I ask that the Department expedite the work of the small business unit. As the Minister knows, larger employers in the local economy will drive the small business. It is hard enough to be a small business owner at the minute with the cost of doing business in this country, never mind with the external risks we have now because of the US tariffs placed on these businesses. Will the Minister respond to that in his closing speech?

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