Ireland faces scrutiny from Trump's US over $36bn surplus

Ireland faces scrutiny from Trump's US over $36bn surplus

Organisation: The Irish Independent (Ireland)

Publication Date: 04/09/2017

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Description

This article was commissioned following the decision of Donald Trump's administration to place a number of countries under investigation for running high trade surpluses with the United States. Ireland is a country that depends on foreign direct investment to a massive degree, and much of the trade surplus is derived from US multinationals sending products made in Ireland back to the US. Mr Trump has repeatedly signalled his intention to bring US jobs back to the country and the opening of this investigation in which Ireland was listed as one of the countries with the highest surplus represented the opening salvo of what could be a major rethink of US policy towards multinationals. This article sought to provide our readership with an insight into the extent of Ireland's trade surplus with the US compared to other European countries. As is evident from the graphic, Ireland has one of the highest surpluses of any country and given the country's size and dependency on the multinational sector, we wanted to underline the threat to the country's current economic model that could arise from any aggressive targeting of multinationals sending goods and services to the US.
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