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BIG BUSINESSES SUCH as JP Morgan, Goldman Sachs, BNY and Bank of Ireland have met with Tánaiste Simon Harris today as he rounds off his final day in the US.
The big message on Harris’ St Patrick’s Day trip has been around trade, with the Tánaiste stating that he wants to be honest with the public that things are likely to be “tumultuous” before an agreement, if any, is made between the EU and US on tariffs.
In New York today, back-to-back meetings were held with major industry players, with the Tánaiste telling The Journal that he hoped to gain “insights” from the companies that he can take back home.
Tomorrow, the Tánaiste will bring a memo to Cabinet updating his ministerial colleagues about what business and trade policy information he has gleaned from the US trip.
The message repeated, at nauseum at times this week, is that it is a two-way relationship that exists economically between the EU, Ireland and the United States.
There is hope that this message will sink in with big US business here, businesses that are very important players in the Irish economy when it comes to jobs.
Speaking ahead of his meetings with the big financiers, Harris said he wants to “get their insights to where they see the lay of the land”.
Harris nodded to the fact that under the Donald Trump administration, things can change rapidly, on a daily, and sometimes on an hourly basis.
Any insights he gets in New York will be brought back to the government’s new trade forum which meets on Friday. Harris will chair the group which is made up of departments, agencies and business groups.
He said the meeting will be a chance to “really take stock of where we’re at”.
“But I’ve got to be very honest with the Irish people. My view remains the same and remains consistent. I believe we are entering a turbulent period of time.
“As I keep on saying, and Europe keeps on saying, and all my counterparts keep on saying, every disagreement ends with agreement. There needs to be an intense engagement to find a way forward here, because trade is good for Ireland, good for Europe, and it’s good for the United States of America,” he said.
“As of today, my sense is that we’re likely to see the turbulence before the agreement. I think that would be regrettable. I think it’d be much better use of everybody’s time and energy to intensively engage,” he added.
The European Union, which has responsibilities and trade policy, stands ready to intensively engage with the US, he added.
In a bid to spread his message on trade, Harris also spoke to media interviews with Bloomberg and CNN on the issues.
He said talks should take place before the April deadline which has been mooted, stating that that there is time before then for talks and engagement to take place.
https://x.com/BloombergTV/status/1902032077333135390
However, The Journal understands that business groups are deeply unhappy with the narrative circulating that things are likely to get worse before they get better, stating that pressure is likely to be put on government at Friday’s meeting to push the EU into talks and to consider re-opening the US tariff list agreed some years ago.
But what does turbulent times mean for the everyday Joe? What about threats to jobs?
The chairman of the IDA Chairman Fergal O’Rourke told the Irish Independent this week that he doesn’t foresee any immediate job losses.
When asked if he is jittery about possible job losses in the trade-war fallout, Harris said American companies know that to get access to the European Union, which is a massive market, they need to have a base in Europe.
“And Ireland offers a very good home to so many companies, companies that have done very well and that have made a lot of profit and absolutely have created a lot of jobs. So we don’t ever take investment for granted. We continue to work with companies, engage with companies,” he said.
Harris said the government will “control” what’s within their control, by investing in Ireland’s infrastructure and competitiveness.
“I think Ireland approaches this period of turbulence from a position of relevant strength,” said the Tánaiste.
Aside from big business concerns and jobs, any imposition of trade tariffs will increase costs for the consumer on both sides of the Atlantic.
The government has ruled out a return to a further cost-of-living package, with Public Expenditure Minister Jack Chambers confirming in recent weeks that there will be no more energy credits bestowed on customers, despite warnings that energy costs are set to rise again this year.
Asked about whether a looming trade war might make the government reconsider such a plan, Harris said this government and the last government have a strong track record in terms of putting support packages in place. However, he added:
“We do have to be honest with people now that we do need to try and move to a more regular budgetary cycle. Inflation is falling, but that is not to say that we won’t be trying to assist people in the budget with the cost-of-living, but how we do it has be part of the regular budgetary cycle,” said Harris.
“We are going to get through this, our economy is in good stead. We have been setting billions [of Euros] into future funds and we used to get asked ‘why are doing that, why don’t you spend all the money now’. This is one of the reasons. You prepare a buffer for your economy from any shocks,” the Tánaiste said.
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The British people voted to leave over 3 years ago, it’s well time to implement that democratic decision.
@Eamon McGowan: I don’t think we have a problem with them leaving as long as they don’t put a border on this island on their way out.
@Eamon McGowan: They voted to leave but that was because they were told they would be able to negotiate a deal. They haven’t done so yet. They did not vote for a No Deal situation even if some thought they were. The only sensible option is a new referendum on the current choices
@Eamon McGowan: well there is the little matter of 39 billion which the British are using to create the longest Goodbye ever. Get the money , then kick em in the nuts.
@Eamon McGowan
The English did, not the British
@Craic_a_tower: They were told a load of lies in 2016. It would be sooo easy including 350m a week for the NHS, Ha Ha Ha. As things have gone, there must be another referendum, the public know a lot more now.
I hope the result would be remain, Better together!
@Craic_a_tower: What? A politician told a lie?
Well I never.
https://www.cppc.ie/lies-isnt-that-what-you-tend-to-do-during-an-election/
@Anita OGalligan: So when you win it’s great, but when you lose the other side lied so it’s invalid?
You either believe in democracy or you don’t.
@Eamon McGowan: I didn’t mention anything about lying. They were never told they were voting for no deal. The politicians thought they could negotiate a deal so not a lie either. Anybody saying they voted for no deal in the referendum is wrong because that was not the option
@Rodney Williams: And the Welsh Rodney.
@Eamon McGowan: we should be goung with them, leave Germany and france to their eu army, tax harmonisation and massive immigration, we’ll go off with the rest of the lads and start some kind of European Economic Community… you know, like the one we joined before it became this mess
@Eamon McGowan:
Missed the bit where they voted for no deal, I do remember them being promised a free trade agreement and NHS getting millions extra a week…
UK is now a laughing stock of the would in relation to trade and NHS is going to be cut up for parts…
All this so Farage and Mogg don’t have to pay taxes.
@Darren B: they have repeatedly said they will not, the only ones who said that had to happen were our friends/masters in the EU
@Eamon McGowan:
Win or no win… What they promised didn’t materialise… So what ever is negotiated should be voted on again, what is your fear, sure is will again…
This isn’t some football game that you won and the whistle is blown… Sorry, this is real life and people are allowed to become better informed and change their minds.
That is real democracy..
@Craic_a_tower: it is clearly mentioned in article 50 which got the full support of parliament
the whole thing about the people not voting for a no deal is a non runner for the simple reason that the British people are by far better off as a nation leaving without a deal than with what is on the table
I think its ludicrous the attitude of irish and eu politicians in blaming the English parliament for not accepting the deal when if any of them were to be honest none of them would accept such a deal for their own country, people need to wake up and see what exactly has happened here, when a deal is done which it inevitably will be how it has been handled will come back to badly hurt the EU in the future, if you can see behind the propaganda you can see all the actions and behaviours of an abusive bully, and the frightening thing is they now have thousands and thousands of people buying into this mentality.
@Cowboy Paddy: real democracy!!!!! lol now paddy surely you can see the irony in that statement, lets deny the people democracy in order to obtain “real democracy” pure stupidity!
regardless to what side of the fence you sit on everyone should agree that the result of a fair and legal democratic referendum where the majority of people have had their say must be respected and implemented or democracy is dead, if it isn’t already
@Thomas Maher: I agree 100%, I was never really against the old EC but the accession of the Eastern states and the influx of unlimited cheap labour into the western states has been a total disaster.
@Darren B: Do u realise what u said ? ‘push a border ‘ There is a border there has been one since 1921 and the will be one until majortiy in north say otherwise and under good fridy agreement the decison on when to hold a poll vest exclusively in the home secretry of the UK. BJ now needs a deal and opp for ire to have an input into that decision ?
@Anita OGalligan: Not everyone voted for the statement on the bus about the NHS . Lets put the first referendum into place and maybe have another one then . In 5 years time we will all know a lot more .
@Eamon McGowan: You could believe in representative democracy but not direct democracy. Did you stop to think of that my good man?
People who want a no-deal have their heads firmly in the sand – it’ll be a disaster for us.
@The Great Unwashed: it will be disastrous for them which is what they should be concerned about. They don’t care about us or NI
@The Great Unwashed: it will be a disaster but it would be interesting to see if the EU will look after its own.
@Craic_a_tower:
Of course it’ll be a disaster for them, but do you think that doesn’t mean it’ll be a disaster for us too??
@Michael Connick:
I think we got the answer to that last week when we were told our contribution to the EU was being increased by €1 billion to cover the post-brexit shortfall in the EU budget.
@The Great Unwashed: True and despite the logic that without the UK, the EU Budget and Human Resources should shrink not stay the same. Gravey train must be maintained at all costs … to us.
@The Great Unwashed: no it wont
@Michael Connick:
There is nothing interesting in our neighbours making an economic disaster. They are our main customers and trading partners.
@Thomas Maher:
You obviously missed last week’s white paper where it explicitly stated that it would.
@Thomas Maher:
To be fair, it was easy to miss as it wasn’t widely reported. Wonder why that was? Hmmm….
@Ken Adams:
Presume much?
I hope Brexit is not delayed again..I dont care if it is a Deal or No Deal as long it’s the end of this boring saga.
@Marty from Sligo: it will only be the beginning and you’ll be missing this boring bit quite quickly.
@Marty from Sligo: its not so boring living at the border, the saga is frustrating for sure but there’s a great fear of the hard border where I am as nobody wants to go back to how it was. When this part is done it will roll on for another 10 or so years so i think you may get used to it
@Marty from Sligo: Your boredom is no reason for the Irish to suffer.
@Marty from Sligo: that’s the idiotic kind of attitude that has caused this mess to begin with. Don’t care about the consequences, couldn’t be arsed educating yourself about it, just get it over with.
Yes and no. I hope that makes my position clear.
@Lester Jeffcoat: I’d be more of a no and yes man myself.
@Manbackonboard: I vote Maybe
Polls such as this one are an example of the tabloid invasion of online ‘journalism’. What possible use is a poll of people who cannot influence events in the country affected by brexit. This is a prime example of how fear and discord are employed as motivating factors for consumption. Sow fear to generate interest to generate add revenue.
It’s costing us more money and uncertainty as this farce goes on, a deal by October 31st or crash out, it will be like the recession, hurt for a while but we will get over it. This dragging on is helping no one.
The British electorate vote to leave almost 3 years ago now. Let them go deal or no deal in a couple of weeks. Democracy MUST win out.
Either remain or feck off for good gibing us an NI-only backstop. It’s not hard.
Yes so the Circus can continue for another while
@John gaughan: And we can get a good laugh by listening to guys like this…Brexiteer hates Health & Safety Laws…
A no-deal brexit would spell disaster for Northern Ireland agriculture and trade of goods with the republic. There would be mobilisation on the streets of deadly forces. If a negotiated brexit is not possible before 31 October, then another extension is needed. English voters have become depressed by the failure to implement the referendum result of 2016 – other social-economic issues in English society have been addressed by the Westminster parliament. Popular suspicion of MPs has grown and could get uglier and uglier. The Conservative Party and the British Labour Party are headed for defining splits.
@Garreth Byrne: other social-economic issues in English society have *not* been *adequately* addressed by the Westminster parliament
They voted to leave its time to leave whether they like the agreement or not
So as the deal is just the start, I dont expect brexit to be fully completed until the middle of the next decade at the earliest. Unless they get another vote and they decide to stay, doubt this will happen. Blood on the streets author’s son will be happy either with no deal or deal, as he will coin it either way.
What “Irish person” wants a) no deal or b) a poor deal like Boris’s that hurts Ireland and especially the north? Very strange that 45% of “Irish people” are voting for these options
If they do leave, will tariffs be immediately placed on imports? i.e Amazon.co.uk
@sb: no
There is the little matter of 39 billion which the British are using to create the longest Goodbye ever. Get the money , then kick em in the nuts.
The results of this poll are probably similar to what the outcome will be, to putting any deal that Boris negotiates to the UK parliament, no clear support for any outcome….
Bye bye Britain you pathetic excuse for a nation.
@Rebecca De Stanleigh: And you live in Ireland? Which is more pathetic? The country that consistently puckers up to the EU arse and impoverishes its citizens or the one that fights back?
@Jane Alford: hahahahah! You need help love
@Rebecca De Stanleigh: Becca can dish it out but cant take it So sad
@Robert Preston: my name is Rebecca. And Robert I would prefer if u didn’t seek out my fb and message me. You absolute mess of a human.
I was thinking you were an angry-troll . Reading your FB page i confirmed this .Lovely language by the way .
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