US President Donald Trump assailed what he cast as imbalances in global trade during a meeting with Irish Prime Minister Micheál Martin, reiterating his threat to impose reciprocal tariffs on other nations.
Trump injected trade tensions into the visit of Ireland’s premier to mark St. Patrick’s Day, normally a light-hearted affair. He singled out the visiting leader’s country, which relies heavily on corporate tax receipts and has an export-driven growth model.
“We do have a massive deficit with Ireland because Ireland was very smart. They took our pharmaceutical companies away from presidents that didn’t know what they were doing and its too bad that happened,” Trump said Wednesday during a meeting with Martin at the White House.
Martin’s visit comes as Trump targets longstanding US partners with tariffs in a bid to reshape global trade flows and bring jobs to the US — a challenge for the Irish premier who is eager to avoid levies on his country. Ireland hosts the EU headquarters of most of the major technology companies as well as large manufacturing plants for pharmaceutical giants. Its export-heavy economy makes it particularly vulnerable to the US president’s trade threats.
Irish exports hit a record in 2024, according to new data, largely driven by a boost in medical and pharmaceutical products. The US is Ireland’s second biggest export market after the European Union.
Earlier: Irish Exports Hit Record in 2024 on Medical, Pharma Goods
Trump and allies have also long bristled at the country’s taxation policies, including a multibillion court fight with Apple Inc. over its tax bill. Commerce Secretary Howard Lutnick has highlighted Ireland as a country he sees as enjoying a budget surplus at the expense of the US.
While Trump’s early actions have hit China, US neighbors Canada and Mexico, and specific industries such as steel and aluminum, the looming threat for Ireland will come in April when he unveils so-called “reciprocal” tariffs on nations.
Those levies to be imposed on different countries will aim to counter both the tariffs and other barriers each nation places on US imports. Trump has specifically cited barriers in the European Union, including value-added taxes, as an example of what he is seeking to counteract.
Trump on Wednesday said the US had “lost big segments of our economy, adding that “the EU’s been very tough, and it’s our turn too. We get a turn at that also.”
With assistance from Jennifer A. Dlouhy and Skylar Woodhouse.
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