**Washington, DC**: Taoiseach Micheál Martin engaged with the American business community, emphasising the importance of US-Irish trade ties valued at $815 billion and the shared values underpinning their relationship, amidst concerns over potential tariffs from the US and EU.
The US Chamber of Commerce hosted Taoiseach Micheál Martin at the premier’s annual engagement with the American business community on 12 October 2023 in Washington, DC. This event served as a platform to discuss and enhance the trade and investment relationship between the United States and Ireland.
Suzanne Clark, the President and CEO of the Chamber, welcomed Martin, highlighting the significance of the transatlantic connections. During their discussions, Martin underscored the essential nature of the US-Irish relationship, describing it as rooted in “a shared value system and genuine belief in the importance of the entrepreneurial spirit.” He noted the considerable scale of the trade relationship, stating, “The Irish-US trade relationship is enormous and increasingly it is a two-way street.” Martin pointed out the presence of approximately 900 US companies operating in Ireland, which collectively contribute around 200,000 jobs, while 770 Irish companies located in the United States provide over 150,000 jobs.
The event emphasized the enduring business, investment, and cultural bonds that exist between the two nations, with a focus on fostering mutual prosperity, innovation, and growth. This comes against the backdrop of recent tensions, particularly as US President Donald Trump and the European Union indicated potential tariffs on both sides. Eoin Ó Catháin, director of the Irish Whiskey Association, expressed that such developments are “concerning.” While tariffs have not yet been enacted, the importance of continued trade between the US and Ireland remains a high priority for suppliers and stakeholders across the Atlantic.
Clark remarked on the resilience of the business ties, stating, “Political circumstances and relationships change, but one constant that can be relied on is the commitment of the business community on both sides of the Atlantic to work together and grow our economies.” She acknowledged Ireland’s critical role in supporting these vital economic relationships.
The significance of the US-Ireland connection is underscored by the impressive figures of $815 billion in two-way foreign direct investment and $230 billion in two-way trade. Looking ahead, Clark noted, “As Ireland prepares to assume the EU Council Presidency in 2026, we look forward to strengthening our shared economic growth and deepening the friendship between our nations.”
Source: Noah Wire Services
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