Stephen Moore, a former senior economic adviser to US President Donald Trump, said he admired Ireland's corporate tax system and believed the United States could do better by cutting its tax rate to a comparable level.
Mr Trump hopes the 25 per cent tariff on imported goods will spur manufacturing.
The White House announced that the charges would apply starting Wednesday to all countries that “have treated the United States unfairly.”
Mr Moore told RTÉ radio's Morning Ireland programme that he would like the US to cut corporate taxes rather than increase import duties.
Former Trump adviser Stephen Moore. Photo: Samuel Corum/Getty Images
“Ireland does have the lowest corporate tax rate in the world. We have always looked to Ireland as a real example of what the United States should do. Rather than raising tariffs, it would make more sense to lower our corporate tax rate to 15 percent, which would bring us closer to Ireland's level.”
Mr Moore expressed concerns that Mr Trump's tariff policies could lead to job losses in the US. “The irony is that we are trying to protect our manufacturing base in the United States and the hard-working Americans who work there.”
“But I do worry that the aluminum and steel tariffs and other tariffs could actually cost U.S. jobs in those industries because they make those goods more expensive. That's changing now.”
Mr Trump and his Commerce Secretary Howard Lutnick have suggested that US pharmaceutical multinationals operating in Ireland will be at the centre of an expected major tariff announcement on Wednesday.
Prime Minister Michael Martin has said proposed US tariffs on pharmaceutical exports could hurt the economic prospects of American companies in Ireland.
Finance Minister Paschal Donohoe said the tariffs could mean between 50,000 and 80,000 jobs would not be created or saved in Ireland over the next four to five years.
He also warned that global trade tensions could threaten jobs, impact living standards and slow economic growth.
Sourse: breakingnews.ie
