"Last year was a record year for FDI investment in Ireland-against the backdrop of everything that was happening-and 65% of that investment came from U.S. multinationals. That flow of capital is not viewed as a good thing by Trump, who accused Ireland of 'taking our pharmaceutical companies' during last year's St. Patrick's Day meeting."
"You know, Ireland is closer to Boston today than Berlin, says Lohan, repeating a long-held trope about its economic similarities to the U.S. in terms of taxes, talent, and ease of doing business. Lohan's job is to attract more of that capital by telling the story of Ireland as a place to get talent, agility and easy access to the 27 member states of the European Union."
Ireland's Taoiseach Micheál Martin is set to announce over $6 billion in deals during a meeting with President Trump in Washington, though St. Patrick's Day celebrations face complications from Iran tensions and ongoing disputes regarding trade, tariffs, and Irish tax policies. Michael Lohan, CEO of IDA Ireland, manages the nation's foreign direct investment efforts, emphasizing Ireland's appeal through its tax rates, talent pool, and EU market access. Despite Trump's criticism of Ireland attracting U.S. pharmaceutical companies, the country remains America's largest investment destination. However, U.S. foreign direct investment to Ireland declined 20% in 2024 to $467 billion, reflecting Trump's pressure on companies to invest domestically. Ireland's 12.5% corporate tax rate and previous tax incentives have attracted major corporations while generating international scrutiny.
#us-ireland-trade-relations #foreign-direct-investment #corporate-taxation #trump-administration-policy #pharmaceutical-industry
Read at Fortune
Unable to calculate read time
Collection
[
|
...
]