Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance)
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25. To ask the Minister for Enterprise, Trade and Employment the preparations and scenario planning he is undertaking to deal with the possible implications for the Irish economy of the policies of the new Trump administration in the United States; and if he will make a statement on the matter. [6602/25]

Peter Burke (Longford-Westmeath, Fine Gael)
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The United States is Ireland’s largest trading and investment partner, and this relationship is – and will continue to be – of major importance to the Irish economy.

In 2023, approximately 178,000 people were employed in US firms operating in Ireland, including over 93,000 people in ICT, and 19,918 in pharmaceuticals. In 2022, US firms made €27 billion in direct expenditure in the Irish economy. These firms also make a significant contribution to the Exchequer, in the form of tax revenue. In addition, total Ireland-US trade was €317 billion in 2023, and this has accelerated over the last five years.

For this reason, this Government is taking action to maintain a constructive relationship with the United States, and to highlight the significant mutual benefits arising from our transatlantic alliance. In doing so, we will continue to work with EU partners to measure the impact of any changes in US policy on all sectors of the Irish economy, and our response will be calibrated on that basis.

Over the last number of years, the Irish economy has proven remarkably resilient, having weathered the worst impacts of Brexit, COVID-19, and the fallout from the war in Ukraine, specifically, the sharp increases in the cost of living and of doing business. Notwithstanding this, as a small, open economy we are unavoidably vulnerable to any disruption in global trading patterns, and to changes in the global economic outlook.

The Government continues to work on those elements within domestic control. Ireland has a strong reputation as a stable country to do business in, both for indigenous enterprise and in terms of foreign direct investment. The Government is focused on maintaining this strong economic stability. Ministers and officials – working on a cross-Departmental basis and with the relevant agencies – are actively engaged in monitoring developments and identifying what steps can be taken to mitigate against any adverse effects arising from policy changes in the United States.

The US-based Strategic Economic Advisory Panel (SEAP) – established at the start of this month – will also enable us to intensify outreach efforts in the United States. This Panel will be composed of senior decision makers in key sectors in the US, and will provide insights on strategic economic opportunities for Ireland in the US-Ireland economic relationship.

As outlined in the Programme for Government, this Government is committed to supporting an open, multilateral, rules-based trade system, promoting free trade policies and economic growth. We will also work to strengthen Ireland’s political, cultural, economic and trade relationship with the United States at all levels, recognising the unique significance of the transatlantic relationship between us.