Peadar Tóibín (Meath West, Aontú)
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303. To ask the Minister for Finance to outline the role he has in the EU/US trade tariff negotiation. [28931/25]

Paschal Donohoe (Dublin Central, Fine Gael)
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As the Deputy is aware, trade policy matters are primarily the responsibility of the Department of Foreign Affairs and Trade. Furthermore, trade with countries outside of the European Union is a responsibility devolved to the EU level, meaning that the European Commission negotiates international trade agreements collectively for all Member States. Within the Commission, it is Commissioner Maroš Šefcovic who has responsibility for trade and economic security. As such, the Minister of Finance of any given Member State is not specifically involved in EU trade negotiations with the US.

However, given the potential impact that tariff announcements by the US could have on the EU and Irish economy, I have engaged closely with our colleagues in other Member States and the European Commission and my Department has carried out extensive work in this area. Indeed, my Department recently published an analysis with the ESRI which sets out the potential impact of tariffs on the Irish economy.

In addition, as Finance Minister, I attend the Economic and Financial Affairs Council (ECOFIN) where my counterparts from all EU Member States along with the Commission and European Central Bank meet monthly to discuss issues that affect economic policy. In my role as President of the Eurogroup I also ensure that there is close coordination of economic policies amongst the euro area Member States. These fora represent the primary mechanisms for EU countries to discuss and coordinate on economic policy matters and I have made clear at these meetings Ireland’s commitment to the principles of free trade, which have underpinned our economic success.

In addition to these European structures, Ireland is currently a guest country at the G20 and I attended the Finance Ministers and Central Bank Governors Meeting in Capetown and Washington this year. I also attended meetings of G7 Finance Ministers in my role as President of the Eurogroup. These international meetings provide an opportunity to engage with the US constructively on the mutually beneficial economic relationship that exists between the EU and US.

At all of these meetings, I have stressed to our European colleagues that as a small open economy, Ireland is highly invested in protecting the multilateralism which facilitates global trade and investment. Free trade brings economic opportunities, creates well-paid jobs, fosters innovation and builds economic resilience. Tariffs damage the global multilateral system which trade and investment depends upon, and would be extremely disruptive for the Irish, European and American economies.