Louth TD says Trump tariffs could end up a 'massive act of self-harm'

Louth Labour TD Ged Nash, has said that US President Donald Trump is "attempting to turn the clock back to a golden age that only exists in the imaginations of some" and that his newly announced tariffs "could end up as a massive act of self-harm against his own people".

Responding on Wednesday night to the announcement tonight of new US tariffs, Labour Finance spokesperson Ged Nash said that, “the threat of tariffs on EU imports has now moved from the abstract to the real. There is a huge amount at stake for jobs in Ireland and across the EU, for our economic and investment model and the future of the public finances.

“The EU has significant power and agency and that must be used wisely. In the meantime and to help Irish firms prepare for the threat of job displacement in vulnerable sectors, government must work to introduce Labour’s proposal for a new short-time work scheme to keep workers close to their firms in order to retain skills and employment in exposed parts of the economy during what will be a tumultuous period.”

Deputy Nash continued: “No country has done more to create the current system of globalised trade, or has benefitted more from it over time than the US itself. President Trump is attempting to turn the clock back to a golden age that only exists in the imaginations of some. This could end up as a massive act of self-harm against his own people.

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“While we await additional details, what was announced tonight is more or less what was expected. There is an enormous responsibility on the government and the EU to fully digest what’s been announced, and be strategic in how we respond with a ‘negotiations-first’ approach needed.

“For a long time now Labour has drawn attention to our excessive reliance on US firms for a high proportion of well-paid skilled jobs, and a growing quantum of our corporation and income tax take. Focused work needs to be done to build up our indigenous enterprise sector and to diversify markets for Irish goods and services.

“Coupled with this is the need to boost infrastructure delivery on housing, transport and other critical infrastructure to make our economy more competitive.”