Tariffs’ impact has Cork employers and workers 'particularly worried'

Cork TDs have raised concerns in the Dáil about tariffs imposed by US president Donald Trump, with the finance minister, Paschal Donohue, acknowledging that people in Cork are “particularly worried”.

While Fianna Fáil TD for Cork North West, Aindrias Moynihan, acknowledged in the Dáil on Thursday that the tariffs had only just been announced, he said: “We recognise that the technology, pharmaceutical, and food and beverage sectors are a serious concern.

“In my own area in Cork, pharmaceuticals and food and beverages are a major concern. Will the minister be making the case to his counterparts on different sectors when he meets with them?

“With 10% tariffs on the UK and the higher 20% tariff on the EU, there is a particular concern about the all-island economy and how people in the Republic will be impacted by the tariffs versus those in the six counties,” said Mr Moynihan.

His party colleague in Cork South Central, Seamus McGrath, pointed out his constituency has “a large concentration of US companies”.

“I live only a couple of miles from Ringaskiddy, a large industrial base. I welcome the minister’s comment earlier that our first and foremost priority is negotiation and finding ways forward but it is critical we have a strong strategy for our multinational and FDI sectors to show them the Government will take a step-by-step approach with them in addressing the economic challenges we face,” said Mr McGrath. “It is vital we show that support to them, and show that we will be shoulder to shoulder with them so that we can navigate these difficult times.

“I know the EU will respond as a collective but Ireland is particularly exposed. Within Ireland, the region I represent is particularly exposed. I urge the minister to ensure every effort is made to find solutions and negotiate our way out of this,” he added.

Minister Donohoe acknowledged their concerns and told Mr McGrath: “The Government and I have engaged with individual employers on this. We are proud to have them in Ireland. They have contributed to the growth of our country but we also believe we have played a role in contributing to their success here and back home in the US also. Of course we will continue to engage with these very important employers at what is also an unprecedented time for them.

“I am aware that employers and workers in Cork will be feeling particularly worried. It is something that affects everybody but I am conscious that large life science and medicine producers are located in Cork, many of which have been there for decades.

“Some very important food and drink manufacturers, farmers and suppliers that are located in Cork are also worried about what this will mean for their food, agricultural and drink exports to the US,” said Mr Donohue. “I am very much aware of this. We are engaging with them to hear their views. We will have to work to see if we can avoid the worst happening in the short term.

“That is why negotiation is vital, but we will see a big change happening in the global economy and we will need to support employers and firms in moving to that new equilibrium,” he added.