Barry Heneghan (Dublin Bay North, Independent) | Oireachtas source

I strongly condemn the decision by President Trump to impose 20% tariffs on EU exports, especially those that affect Ireland. Let us be clear here: this is not a negotiating tactic but an act of economic aggression by President Trump against our long-standing relationship. Let us call it what it is; it is reckless and short-sighted and will be deeply harmful to Irish jobs and businesses and the broader European economy. These tariffs will strike at the heart of our global economic model. This can already be seen in the stock market.

Ireland is heavily reliant on trade with the United States and the continued presence of US multinationals operating in our country. We all know the budget surplus did not appear out of thin air. It was built on decades of US investment, tax contributions and deep integration into the global trading system which, until now, we believed to be stable. I heard Deputy Paul Lawless mention this issue earlier and I support his view that we need to remove that dependence. If we can remove our dependence and destabilise this relationship, it would be good for stabilising our economy.

This is just a storm on the horizon. Tomorrow, I will be speaking more in depth on the long-term economic picture but today we are talking about tariffs.

In five years' time we are going to be talking about EU climate fines and how we are going to fail to meet our emissions targets. I urge us to look down through the barrel at what the situation will be five or ten years from now. We must diversify our economy and future-proof our strategy. I welcome Deputy Gogarty's remarks about our potential for green hydrogen and offshore renewable energy. I have spoken about this before. It is something we really need to do. I will speak about it more tomorrow.

I welcome the Government's continued engagement with the European Commission and our EU partners. We must remain united, strategic and calm but never passive. When the Tánaiste comes back I will be encouraged to hear how he got on in those negotiations. Ireland needs to take a leadership role in pushing for a renewed US trade dialogue. Here at home, we need to plan seriously to support Irish businesses most at risk. Whatever our historical relationship might have been, that is not the case with the current US Administration. This is a moment for leadership, not isolation. I look forward, as I have said, to the Tánaiste's response on his return.

I urge us to continue to look for and foster open, fair trade across continents. It is not too late to change course and I urge President Trump to do just that.

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