Bloomberg Talks
Ireland FDI Chief Michael Lohan Talks Trump's Global Impact
Jan 20, 2025
Michael Lohan, CEO of IDA Ireland, leads efforts in attracting foreign direct investment to Ireland. He discusses how Donald Trump's presidency could reshape Ireland's economy, especially in the tech and pharmaceutical sectors. Lohan highlights the challenges posed by shifting U.S. trade and tax policies, which could impact innovation and inflation. He emphasizes the importance of global supply chains in pharmaceuticals and outlines IDA Ireland's strategy for sustainable growth while navigating competition from the UK.
09:50
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Quick takeaways
- The potential risks from U.S. trade and tax policy changes could significantly impact Ireland's foreign direct investment landscape and economic stability.
- Ireland's focus on sectors like healthcare and technology is vital for attracting multinational corporations amidst uncertainties while addressing local housing challenges.
Deep dives
Impact of U.S. Policies on Ireland's Economy
The potential changes in U.S. trade and tax policies under the new administration pose significant risks to Ireland's economy, especially in the foreign direct investment (FDI) sector. Industry leaders are particularly concerned about protectionist measures and tariffs, which could hinder innovation and inflate costs, thereby impacting global supply chains. Ireland's focus on its strengths, such as economic stability and a skilled workforce, will be crucial in navigating these challenges. The country aims to position itself as a favorable gateway for multinational corporations seeking European markets amidst policy uncertainties.
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