Deputy Mary Lou McDonald-- speech from 9 Apr 2025

Let's dive into the discussions shaping the nation. As has been said, nobody wins in a trade war, but we know who loses the most. It's workers and families who carry the can in the form of increased prices, threats to jobs and livelihoods and hits to their incomes. Trade wars aren't good for the prosperity of ordinary people. That's the reality. But this is the prospect that we now face. It is unprecedented to use blanket tariffs to force broader trade and foreign policy objectives. U.S. blanket tariffs are an unjustified act of economic aggression and they are going to damage the U.S. and the global economy. Ireland's economy and the prosperity of our people are uniquely exposed to U.S. tariffs. And this has been brought home by President Trump's comments over the last 24 hours, threatening again additional tariffs on the pharmaceutical sector. The sector received an initial reprieve, but the landing zone on pharma tariffs is still not known. In recent days, I and members of the Sinn Féin team, North and South, have engaged constructively with representatives from key sectors in the Irish economy, representatives of Ireland's pharma sector and with the American Chamber here in Ireland. Pharmaceuticals provide massive employment in Ireland and form a significant portion of our exports to the United States. So the exposure and the risk is real, and must strongly inform how the Irish government proceeds in talks with the European Union and the United States. It's clear to me that we need a tailored strategy for this sector to reduce the impact should President Trump push ahead with his threat. And whatever the reflexive instinct might be, counter tariffs are not in Ireland's interests. The SRI has been clear that Trump tariffs are damaging and that automatic counter tariffs from the EU would make things worse for Ireland. EU counter tariffs would have the potential to cost Ireland more in terms of a hit to our public finances, job losses and higher prices for Irish consumers. So any response must be carefully considered, calibrated and take Ireland's economic interests in their totality into account. The response from the European Union must be planned, strategic and aimed at getting the United States to withdraw from this disastrous approach. A tit-for-tat battle is a race to the bottom, and that's a race that nobody can win. So what we need are cool and calm heads, and maturity. We know that negotiations, dialogue and the working of relationships will be absolutely key to resolving this crisis and to moving forward. The Irish government must ensure that the EU does not take any action that could further damage our economy, our jobs and the livelihoods of working people in this country. The priority must be to defend Irish national interest. That means safeguarding jobs, helping Irish business to grow in global markets and ensuring that the all-Ireland economy continues to grow at pace. We need a plan for Ireland, for all of it, to de-risk our economy and mitigate the impact of these tariffs. And this means having supports in place at both state and EU level. It means contingency planning and ensuring that our strategies are tailored to the specific challenges that Ireland will now face. And of course the government needs to do much better at what is within their control. Supporting domestic business, investing in infrastructure, sorting out housing, sorting out childcare provision, getting these things right has never ever been more important. And I'm conscious that in the past government have used crises as alibis not to tackle these issues, not to invest in these matters. This cannot be repeated. Successive governments have not put the basics in place to attract FDI without complex tax incentives. They have failed to invest in the areas key to building Ireland's long-term competitiveness and attractiveness. We have been saying this for years and that we have allowed our competitiveness to slip. And businesses, big and small, have been telling us about the issues that affect them. So the scenario we now face shows that this must change. By making ambitious, smart investment in these areas, we stand to reap a double benefit at a time of great volatility. We can raise people's living standards and we can build the competitive advantage of Ireland being a great place in which to invest, to do business, to secure a job, to secure a job, to secure a job, a great place to live in and to build a life. Protecting, growing and advancing the success of the all-island economy is crucial to building Ireland's competitive advantage and our prosperity. And this has to be a high-level priority for both administrations on the island, north and south. It's a serious issue that we now have two different tariff rates on this small island of ours, and potentially two very different responses to those rates and the dynamic that is now unfolding around us. So we need to ensure across the island that businesses are supported, primarily with information initially. A government trade forum could play a useful role in that. We also have Intertrade Ireland, which operates between both administrations, north and south, to ensure that in the first instance our business sectors, which will be concerned about developments, have all the information necessary, and then whatever other supports might be needed in the time ahead. So I'm asking those in government here to work hand-in-glove and in lockstep with their counterparts in the executive. The first step in this regard would be to convene the North-South Ministerial Council without delay, and I'm asking that this be done. I'm also asking that government hold an all-party meeting as soon as possible, and that that practice be a consistent feature of how we collectively manage this situation. If we were to work together on dealing with the crisis that tariff imposition could have on the Irish economy, we need an effective, transparent, collaborative approach, sharing with all parties in the Dáil all of the information and the strategies being considered. It's clear what must happen, and what must be the priorities for the government in the time ahead. The government must champion Irish interests in Europe, and ensure that any response doesn't risk greater damage, job losses, price hikes for Ireland. We must ensure that the EU pursues a pragmatic policy of de-escalation, without compromising on important laws and regulations designed to protect the all-Ireland economy, the environment, human health, and important sectors such as agriculture. There has to be a real emphasis to ensure that the EU does not make retaliatory tariff decisions that make a target for the US of key Irish enterprise sectors. And there must be a real drive now to build our competitive advantage, to invest with intent in those areas that increase our attractiveness for investment, protect Ireland from external shocks, and strengthen both our economy and our society. The chief responsibility of government is to stand up for Ireland's interests to protect Irish jobs, Irish industry, and the prosperity of our people. And government cannot take its eye off the ball on that score. There is far too much at stake. But if we focus on those areas that we can control, if we show ambition and vision in defending the prosperity of workers and the growth of business, then that is how we stand the best chance of weathering this storm, of building a future in which Ireland's economy and the well-being of our people can, in fact, be enhanced. Thank you, Deputy, Deputy. Thank you, Deputy. Like, share, and subscribe, and let us know your thoughts in the comments. We'd love to hear from you.