6. Deputy Naoise Ó Cearúil asked the Minister for Finance the proactive measures his Department is implementing to mitigate and support the most vulnerable sectors of the economy from the potential risks for substantial economic disruption due to impending US tariffs. [15890/25]

Sentiment score: 0.04

Given the recently announced 20% US tariffs on EU goods, which is double the 10% rate applied to Britain and Northern Ireland, and considering the exposure of the Irish economy, particularly export-reliant sectors and jobs, what proactive and specific steps is the Minister's Department taking to support those most vulnerable, including multinationals, SMEs and workers in mitigating these deeply concerning economic risks?

Sentiment score: 0.24

I thank the Minister. I appreciate the immediate steps the Minister, the Taoiseach and the Tánaiste are taking but Ireland is uniquely exposed. Our export economy depends heavily on the US, which accounts for nearly one third of our total exports. Unlike Britain and Northern Ireland, which face a 10% tariff, we are hit with the 20% rate as members of the European Union, which puts us at a disadvantage. Key sectors such as agrifood and advance manufacturing are now vulnerable, not just in terms of competitiveness, but also in terms of employment, as the Minister mentioned. This morning, IBEC already announced a forecast of a 2% to 3% hit on exports in the short term. There is a real risk in terms of job losses, investment slowdown and pressure on regional economies that rely on trade-driven growth, particularly around Cork, where people have been quite vocal in the news this morning. The situation is compounded by Northern Ireland's position under the Windsor Framework, which could see trade diverted away from the Republic. We cannot afford to be passive. I appreciate that negotiations are a key part of this and that the Minister is playing a crucial role in that.

Sentiment score: 0.01

I should mention Intel and Kerry Group in my constituency of Kildare North and the impact they might face. As the Minister noted, we need a co-ordinated and multilayered response to this. First, we should push diplomatically, particularly to our partners in the EU, for a negotiation of exemptions or reductions, especially for high-value sectors like agrifood in Ireland. Second, I would love to see a financial support package to be made available, with grants, bridging finance and tax reliefs for those firms directly affected. This would come under the Minister's Department. Third, workforce supports such as upskilling, reskilling and job transition schemes must be activated. Finally, we must protect not only our businesses, but also our workers and the communities that depend on them. I pay tribute to the late Mick O'Dwyer, whose passing was announced this morning. Micko was a legend of the GAA, particularly in Kerry, but we have a great fondness for him in Kildare for delivering two Leinster titles and bringing us to an all-Ireland final. I was quite young at the time but they are very positive memories. I acknowledge him and his contributions to Irish life and society over his many years. Ar dheis Dé go raibh a anam.

Sentiment score: 0.28