Companies looking for opportunities in the Irish market need to “remain calm” in light of possible US tariffs, the Prime Minister told a key conference in Texas.
Michael Martin said he intends to convey to President Donald Trump the message that there is a “two-way street” in investment when the US and Irish presidents meet this week.
Amid growing concerns that the president's protectionist tariff and tax policies could pose a serious threat to the Irish economy, which is based on long-term investment by American multinationals, Mr Martin will also focus on the benefits of the US-Irish relationship, which he believes is “more complex than just the numbers”.
Mr Martin will hold talks with Mr Trump in the Oval Office on Wednesday, but he began his traditional programme of US meetings over St Patrick's Day with a visit to Austin, Texas – a state the prime minister said had seen a “new wave of Irish investment”, with 120 Irish companies creating around 4,000 jobs.
The Fianna Fáil leader said he wanted to use the trip to highlight the “stability” of economic ties between the US and Ireland.
Mr. Martin initially declined to discuss details of his meeting with Mr. Trump in Washington, D.C., saying he was planning his visit “day by day” and that his focus on Monday would be on events in Austin, including a meeting with the governor, Republican Greg Abbott.
“I represent the country, the people of Ireland, and I am very aware that in this difficult world, thousands and thousands of jobs depend on the economic ties between the United States and Ireland,” he added.
“My main goal is to ensure that this continues into the future and to protect the people who work in these places. This is extremely important.”
Asked about his strategy for meeting Mr Trump, Mr Martin said: “Our strategy is to make sure that, despite all the comments, we get the message across that (the US) has a strong and enduring presence in Ireland and that our relationship is strong and we want to develop it further.”
However, later, speaking at a fireside chat at the South by Southwest (SXSW) festival, he revealed the meeting's main message: “The biggest thing I want to emphasize is that this is a two-way street.
“This is not just American investment in Ireland, but Irish investment in America.
“We buy a lot of products, a lot of American products. There are a lot of Irish companies here that will develop and continue to grow.”
Mr Martin also urged companies operating in Ireland “not to make any hasty decisions” in response to Mr Trump's threat to impose 25 per cent tariffs on EU imports, adding that they should wait “to see how things play out”.
He noted: “Keep calm, this is a period we need to get through.”
The Prime Minister also stressed that Ireland was a “significant base” for US companies to access the European single market.
In another context, he claimed that Ryanair and AerCap's purchase of Boeing aircraft was not reflected in US Commerce Department data and that Ireland's “high standards” in life sciences benefited US pharmaceutical companies.
Sourse: breakingnews.ie
