Noel Rock (Dublin North West, Fine Gael)
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155. To ask the Minister for Finance if a contingency plan is in place to minimise disruptions in the economy if President Trump were to start enacting some of the trade policies he has discussed; and if he will make a statement on the matter. [18224/17]

Michael Noonan (Limerick City, Fine Gael)
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It is not yet clear what the impact of the new administration in Washington might be on the Irish economy. There is still considerable uncertainty around the specific trade policies which will be pursued and how successful the new administration will be in enacting these policies.

However, if US economic policy were to become more protectionist, this would likely have significant implications for Ireland given current levels of trade with the US. While the majority of our goods and services exports are to other EU Member States, with the Euro area accounting for around 34 per cent of exports and a further 16 per cent going to the UK, the US nevertheless accounts for some 16 per cent of total exports.

Ultimately, the potential impact will depend on the policies enacted by the new administration. My department is closely monitoring developments and will analyse any proposals in detail to assess the potential impact on Ireland.

Regarding mitigation, the best way to deal with such risks to the international outlook is through competitiveness oriented policies and prudent management of the public finances. That is what this Government will continue to do.