Donald Trump’s return to the presidency signals potential turbulence for global trade, particularly affecting Ireland and the European Union. Trump has threatened to impose tariffs on European goods unless the EU increases its purchase of American oil and gas. This development raises concerns for Ireland, which benefits significantly from U.S. multinational corporations, especially in the pharmaceutical sector. Fianna Fáil MEP Barry Cowen emphasizes the need for a balanced approach: fostering positive trade relations without succumbing to fear or complacency. Cowen highlights Ireland’s strengths, such as a skilled workforce and strategic location post-Brexit, making it attractive for international investments despite current challenges in energy and infrastructure. Strengthening domestic competitiveness and economic resilience, alongside diplomatic efforts with Washington, are deemed crucial steps. Overall, Cowen is confident that Ireland can remain a key partner to the U.S. by adopting strategic and beneficial trade policies.
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