Rose Conway-Walsh warns US tariffs threaten whisky and jobs
Rose Conway-Walsh warned about proposed US tariffs on pharmaceuticals, technology, software and Irish drinks, saying they pose a serious threat to exporters, small distilleries and jobs. She urged unity in the House, increased investment, escalated export funding, an all-island summit with business, and the establishment of a new enterprise agency to support indigenous firms.
Tariff risks to exporters
The deputy highlighted President Trump’s indications of tariffs on pharmaceuticals, technology and software and warned of specific damage to Irish products such as whisky. She cited Drinks Ireland’s estimate of over €800 million in drinks exports to the US, more than half of which is whisky, and warned that a 200% tariff would devastate small distilleries that provide rural employment, naming local distilleries as examples.
Border and currency impact
She warned that differing tariff arrangements between the US and Britain, coupled with the British jurisdiction over part of the island, could leave businesses disadvantaged depending on which side of the border they are on. She said financial tariffs and currency fluctuations from two currencies operating on the island would most harshly hit border businesses and risk renewed local boom-and-bust cycles.
Request for an all-island summit
The deputy urged the minister to work with his or her counterpart in the Executive to host an all-island summit to hear directly from business sectors about impending tariffs and possible mitigations. She said she and a colleague continue to meet industry stakeholders to assess likely impacts on decision making in global businesses.
Support for indigenous firms and regional infrastructure
She argued for ramped-up investment in infrastructure and escalated funding for export development programmes to protect competitiveness and jobs. She called for greater supports for indigenous businesses and start-ups and backed establishing a new enterprise agency to provide financial support and expertise. She also highlighted regional imbalances, citing the EU Regional Competitiveness Index rankings that place the East and Midland Region 24th, the Southern Region 90th and the North Western Region 113th out of 234, and stressed critical projects for the Western Region including Ireland West Airport Knox, the Strategic Development Zone, the Western Rail Corridor, roads, water, renewable energy and telecommunications.
Cybersecurity legislation overdue
She noted Ireland failed to transpose the EU Network and Information Security Directive by the 19 October 24 deadline, welcomed publication of the first draft General Scheme for the National Cybersecurity Bill and its listing in the Government’s Spring 25 legislative programme, but said progress is too slow and collaboration is needed to address these risks.
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and the world around us. Thank you, Deputy. Rose Commonwealth. Yeah. Go raibh agat. We are rightly proud of the Irish goods and services that are traded across the world and of our indigenous companies and entrepreneurs who have taken risks and successfully navigated the world markets. I recognise the immense contribution to the national economy of our export trade and the role that FDI has played. And the truth is that this time of global, political and economic uncertainty and volatility in our trading partners, significant threats are becoming apparent in many sectors. I am concerned for the trade tariffs that President Trump has indicated he will impose on the pharmaceutical industry, on technology, on software companies, on Irish products such as whisky and the impacts that these could have for companies based in Ireland and for their workers. Drinks Ireland has estimated the current value of Irish drinks exports to the US at over €800 million per year. Over half of this is made up of whisky exports. The imposition of a 200% tarve would spell ruin for the small whisky distilleries that have blossomed in the last number of years. Many of them providing valuable employment in rural areas. This is vital to my own local economy like the Achille Island distillery and Connacht distillery in Balanagh. I and Senator Conor Murphy continue to meet with industry stakeholders regarding the likely impact of these proposed tariffs on decision making in their global businesses. I think it is very important that we have a unity of purpose across this House in tackling the threats that are there at this time. What is very clear is that the climate of uncertainty is challenging and that government policy must reflect the perilous situation we are now in. I know the Department of Enterprise will be monitoring developments but investment decisions in infrastructure must be ramped up to improve our competitiveness and to ensure that jobs are protected. Funding for export development programs must be escalated. The situation in Ireland is further complicated by the British jurisdiction over part of our island. In the event of counter tariffs being imposed by the EU and differing arrangements between the US and Britain we could have a situation where businesses in the same sector are disadvantaged because of what side of the border they happen to be on. Financial tariffs coupled with currency fluctuations bought about by two currencies operating in our small island will most harshly hit businesses along the border area. We have seen many times the micro cycles of boom and bust in the border region where neighbouring towns are pitted against each other depending on where the currency advantage exists. This is most unfair and it makes it even more difficult to navigate this business space. I urge you Minister to work with your counterpart in the Executive Dr Kiva Archibald to consider hosting an all island summit to meet with the business sectors to hear their views on these impending tariffs and the possible mitigations that would need to be put in place. More broadly and in addition to dealing with this current crisis this is a time to increase investment in our domestic economy which accounts for 90% of the employment in the state. The truth is our indigenous businesses have not got the necessary supports and attention they deserve nor have our start-ups been facilitated and supported to scale up in the way that they need to do. Now is the time to change this. Supply change to the multinational companies need to be developed and cultivated across the island and within the EU so the economy can withstand global external shocks. Sinn Féin believes that establishing a new enterprise agency which could provide financial support and expertise to non-export based start-ups and established companies could be a game changer for our home based businesses as well. I would also draw your attention to the current unbalanced economic development that the government has presided over which has resulted in the EU Regional Competitiveness Index ranking the East and Midland Region 24th, the Southern Region 90th and the North Western Region 113th out of 234 EU regions. This must be urgently addressed by government particularly in the Western Region which is now classed as a lagging region. Ireland West Airport Knox, Strategic Development Zone, the Western Rail Corridor, roads, water, renewable energy, telecommunications are now critical to our competitiveness and sustainable growth. Ireland failed to enact the necessary legislation to transpose the EU Network and Information Security Directive by the deadline of 19 October 24. I know that the first draft of the General Scheme for the National Cybersecurity Bill has been published and I see it has been listed in the Government's Legislative Programme for Spring 25. I welcome this but it is taking too long Minister but I do think we need to work together to address all of these issues.
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