Tommy Broughan (Dublin Bay North, Independent)
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93. To ask the Minister for Jobs, Enterprise and Innovation the work being undertaken to ascertain the way in which foreign direct investment may be affected by the Trump Administration's trade and tax policies; and if she will make a statement on the matter. [30630/18]

Heather Humphreys (Cavan-Monaghan, Fine Gael)
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Ireland and the US have a significant bilateral relationship based on the same values and interests that has proved indispensable for the prosperity of both sides of the Atlantic.  Ireland remains fully committed to a continued strong partnership with the US both bilaterally and through EU/US engagement across so many fronts. 

The current direction of US Trade Policy, whereby the pursuit of bilateral negotiations has supplanted longstanding commitments to multilateralism and the rules-based approach to trade overseen at the WTO, is concerning.  Our concerns, shared by our EU partners, is that a global, rules-based, approach to trade and the employment it supports, has delivered for our country and while there are many trade irritants that require addressing, these should be tackled on a global, multilateral, basis, with countries and trading blocs working collaboratively.

Insofar as impacts for Ireland from the current US trade actions are concerned, an initial assessment shows a limited impact to date at national level from them or the EU counterbalancing measures.  However, as this could possibly mask individual firm level impacts, my Department and its agencies will keep the situation under review and engage with industry to identify specific issues arising.

As regards, U.S. tax policies, changes in the U.S. tax system could, of course, have an impact on Ireland given the significant volume of U.S. Foreign Direct Investment (FDI) in Ireland.  However, the IDA believes that FDI opportunities for Ireland will continue.  Ireland’s corporation tax regime will continue to be competitive while also offering long-term certainty to international business.  It is clear that Ireland's consistency, stability and predictability in relation to tax policy as well as our competitive corporate tax rate remain a virtue in this dynamic tax policy environment.  As always, however, Government remains alert and responsive to any changes in the US or global tax environment and we are committed to full participation in any international discussions or reviews of global tax issues, while remaining clear that tax policy remains a national competence.

It is clear, however, that Ireland’s access to the EU market is, and will remain, a key factor in attracting FDI from the US and elsewhere.  Global business, from the US or elsewhere, will always want to have operations in the EU, and Ireland will remain very competitive and attractive as an EU location to invest in and do business from.  I might also note that the Irish/US FDI relationship is two-way and recent research shows that some 100,000 jobs in the US are in Irish FDI companies in areas such as hi-tech, construction and agri to name just some sectors.