Pádraig O'Sullivan (Cork North-Central, Fianna Fail)
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287. To ask the Minister for Enterprise, Trade and Employment his reaction to comments made last week by US President Donald Trump that he would specifically target tariffs at the pharmaceutical industry, and what preparations we are making were this to happen; and if he will make a statement on the matter. [5779/25]

Peter Burke (Longford-Westmeath, Fine Gael)
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As the operational aspects of the transfer of particular files and functions regarding trade policy will be managed between my Department and the Department of Foreign Affairs and Trade over the coming period, this matter is one that I am updated regularly on.

I can confirm that the Government is fully aware that there may be implications from potential measures by the Trump administration that could impact Ireland's trading environment and bilateral EU-US trade. We will work with EU partners to measure the impact of tariffs across all sectors, and we will calibrate our response on that basis. Increased protectionism is not in the interests of businesses or the global economic environment, and would not benefit the EU, Ireland or the US.

With regard to the specifics of the pharmaceutical sector, the 1994 WTO agreement on trade in pharmaceutical products, eliminates tariffs on a large number of pharmaceutical products. Both the US and the EU are signatories to that agreement.

My Department is not complacent about Ireland’s competitiveness position regarding FDI, and policies, strategies and the legislative toolkit are constantly kept under review to ensure objectives set out in this critical part of the economy are met. In turn, IDA Ireland continues to review its highly successful enterprise policy, ensuring we remain an attractive place to invest in.

FDI plays an important role in Ireland’s continued economic success. Total employment in IDA client companies in Ireland stands at 302,566, holding above 300,000 jobs for the third consecutive year.

The Life Sciences sector is a cornerstone of Ireland’s industrial success, driving significant exports and attracting foreign and indigenous investments in R&D, capital expenditure and employment. Indeed, it is a highly successful sector which has grown from strength to strength in Ireland.

The new Programme for Government has mandated the development of a National Life Sciences Strategy to ensure this important sector remains competitive, as well as adopting a coherent and ambitious approach to future opportunities. In this regard, my Department will soon begin arrangements for developing the scope and timelines for the proposed strategy, along with considerations for engagement with stakeholders, and taking into account EU developments. Indeed, we understand that the European Commission may develop a EU Life Sciences Strategy, which we look forward to engaging on and incorporating the relevant opportunities for Ireland it will give rise to, as part of our national strategic response.