Taoiseach hits out at Donald Trump steel tariff threats

The Taoiseach has hit back at Donald Trump’s threatened tariffs, saying they are “not conducive” to economic growth.

Mr Trump said he plans to impose 25% tariffs on “any steel coming into the United States”, adding that aluminium will also be subject to additional duties.

Micheál Martin said there will be “some secondary effects” on Ireland if Mr Trump pushes ahead with his policy.

Ireland exported articles of iron or steel worth €59.6m to the US in 2023, according to UN Comtrade data.

Free-trade environment

Mr Martin said: “We believe tariffs are not conducive to economic growth. Ireland believes in a free-trade environment.

“We’re a small, open economy, and I believe that free trade has led to the largest rise in prosperity globally in recent decades.

“But in respect of the specifics, obviously there will be some secondary effects in terms of Irish perhaps, but not primary. Again, the European Commission will be engaging with the US administration in respect of trade matters.”

Mr Martin said Ireland has been a member and participant of the OECD process, and said there should be a “global approach” to taxation issues.

Mr Martin is in Brussels to hold bilateral meetings with the presidents of the European Parliament, Roberta Metsola, and European Council, Antonio Costa.

Positive

Speaking to reporters, Mr Martin said it is important for the EU to maintain a “positive” trading relationship with Mr Trump.

Mr Martin said that the US and the EU are dealing with a “different approach to conducting relationships”.

“In fairness, there are issues in the United States that were well aired and well articulated during the election there, no more so than across European countries as well, during their respective elections.

“So in the aftermath of such elections, there is going to be change, and it means the most important thing for us is, how do we respond and adapt to a changing environment. But some of the fundamentals will stay, in terms of economics, in terms of trade and in terms of supply and demand.”