Donald Trump’s proposed tariffs could lead to the loss of 200,000 jobs in Ireland, the country’s largest union, SIPTU, has warned, reports The Mirror.
The US President is expected to declare his trade war with the EU next Wednesday, calling it ‘Liberation Day’ for America.
However, SIPTU fears that if the Irish Government does not act quickly to safeguard the pharmaceutical industry and Foreign Direct Investment, the consequences could be devastating.
The union has urged Taoiseach Micheál Martin to establish a dedicated task force to prepare for and respond to the looming tariffs dispute, reports The Mirror.
The union’s Deputy General Secretary stated: “We represent thousands of workers across the pharmaceutical and medical device’s sectors and we need to do everything to protect people’s livelihoods. The Government has a role to play in that along with the trade unions and employers. But further down the road if these tariffs are biting hard and there are job losses, we need to look at improving such things as statutory redundancy entitlements,” reports The Mirror.
He cautioned that 200,000 jobs could be at stake.
Ireland is the EU country with the most to lose in this trade conflict due to the high number of US multinational companies operating within its borders. Trump aims to relocate them back to the United States, reports The Mirror.
Yesterday, the Taoiseach urged the public to remain calm as Ireland braced for the impact of Trump’s tariffs.
He acknowledged that the situation was unprecedented and could significantly alter the nation’s economic structure.
Mr Martin stated: “The Government is working flat out to deal with what will unfold and we are working on all fronts so we can navigate through what will be a very difficult period,” reports The Mirror.
He anticipates that the tariffs dispute will unfold over a period of one to three years.
Adding to the Government’s challenges, new data released over the weekend revealed that tourist numbers in Ireland had dropped sharply, reports The Mirror.
In February, only 304,000 visitors arrived, marking a 30 percent decline compared to the same month last year.
Additionally, spending by foreign tourists fell by 31 percent, reports The Mirror.
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