Government must take urgent measures to protect Irish jobs following escalating Trump threats on pharma and tariffs – Donnchadh Ó Laoghaire TD

Sinn Féin spokesperson on Foreign Affairs and Trade, Donnchadh Ó Laoghaire TD, has expressed grave concern regarding the escalating threats of US president Donald Trump to introduce tariffs across a wide range of products, including pharmaceutical products.

Teachta Ó Laoghaire said:

“Sinn Féin has warned for some time that the policies of successive governments have left Ireland uniquely vulnerable to a change in the economic climate, and to tariffs. This is due to their failure to invest in infrastructure and their excessive reliance on tax incentives, and failure to build up our indigenous industry.

“The statements made by Donald Trump will cause a great deal of concern among the thousands of people working in US multinational companies, particularly the pharmaceutical Industry.

“The government must outline to these people what it intends to do to safeguard their jobs and their livelihoods, and to offer them reassurance.

“It is clear that the only way to win a trade war is not to be in one. Tariffs on pharmaceuticals would result in significantly higher costs for American consumers.

“It is also the case that the Industry here exports significant amounts to many other markets, including Europe and right across the world. We need to ensure that this is widely understood.

“We hope cooler heads will prevail and encourage dialogue. There should not be panic, but we must be clear-sighted about the risks we face.

“We urge the government to engage intensively with the EU to advocate on behalf of the key industries of interest to Ireland, such as pharma, but also agrifood, drinks, aircraft leasing, tech and financial services.

“Knee-jerk reactions would not be helpful, but the government must be to the fore in ensuring that retaliatory measures take account of the industries Ireland rely on.

“The government must also outline what preparations it will put in place to mitigate and support measures for businesses affected. A package of support would clearly be necessary in the event of the US administration following through on their threats.

“Many citizens will be very concerned for their jobs and for their futures. The government must act now, to ensure that jobs are protected and that preparations are in place to support businesses in adverse times.

“The government has left Ireland uniquely vulnerable, and preparations must be stepped up rapidly.”