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Podcast: The fluctuating tariffs under Trump, Trudeau shedding tears, and Hunter Biden’s ‘sugar brother’ – all discussed in the newest episode of Welcome to MAGAland
US president
Donald Trump
has criticized Ireland, stating that it ‘naturally’ is benefiting from America during an encounter with the nation’s leader.
Today, Trump spoke with Ireland’s Prime Minister, Michael Martin, at the Oval Office. This occurred as the European Union declared they would impose reciprocal economic tariffs following President Trump’s decision to enforce a 25% tax on all imported steel and aluminum from around the world.
‘He stated that the purpose of establishing the EU was to capitalize on the opportunities presented by the United States.’
When asked whether Ireland was similarly benefiting from the U.S., he responded, “Absolutely. I hold Ireland in high regard for their actions; they made the right choices. However, the United States shouldn’t have allowed this situation. Our leadership at the time lacked understanding and competence.”
‘Suddenly, Ireland finds itself with our pharmaceutical firms; this lovely island of five million inhabitants now holds the whole US pharmaceutical sector within its grasp.’
As you’re aware, I own some property in Ireland, which I adore, and it’s doing wonderfully. However, I wish the United States hadn’t been so foolish for such an extended period, not only concerning Ireland but also regarding everyone else.
For example, when pharmaceutical firms began moving to Ireland, my stance was ‘it’s fine if they choose to relocate there; I see it as positive. However, should these businesses aim to export products back into the U.S., I’d impose a hefty 200% tariff, making it impossible for them to enter our market.’
‘You know what they would have done? They would have stayed here.’
When asked whether the Taoiseach should be worried about the massive tariffs, Trump jokingly said: ‘Well he doesn’t look nervous. And if he was nervous, he wouldn’t show it.’
We have a significant trade imbalance with Ireland. This occurred because Ireland was quite astute; they managed to attract our pharmaceutical companies away from leaders who lacked understanding.
‘Irish folks are intelligent. They possess sharp minds.’
The gathering in the Oval Office differed greatly from what the Taoiseach had envisioned as a way to emphasize a mutual exchange of investments between the countries, aimed at mitigating potential worries the President might have regarding an uneven U.S.-Ireland trade relationship.
The gathering takes place against a backdrop of increased worry that President Trump’s protectionist stance on tariffs and taxes might present a substantial threat to Ireland’s economy, which largely relies on longstanding investments from American multinational corporations.
Across Europe, these concerns are now resonating, as the continent declared last night that it will introduce retaliatory trade measures affecting up to €26 billion (£22 billion) worth of American products in response to the U.S.’s choice to enforce 25% duties on worldwide steel and aluminum shipments.
In a statement, the President of the European Commission, Ursula von der Leyen, remarked: “We profoundly lament this action. Tariffs amount to taxes; they harm businesses and disproportionately affect consumers. These measures disrupt supply chains and create economic uncertainties.”
However, during his meeting with Ireland’s leader, Trump stated that his tariff plans would reinstate fairness in U.S. trade.
“We have endured abuse for far too long, and we will not tolerate it anymore,” Trump stated.
He added the US would respond to the EU’s counter-tariffs.
Canada also announced a series of retaliatory tariffs against CAD$29.8bn (£16bn) from tomorrow, Canadian Finance Minister Dominic LeBlanc said.
The duties will cover steel items valued at C$12.6 billion (£6.8 billion) and aluminum products worth C$3 billion (£1.6 billion), along with computers, sporting equipment, and cast iron merchandise.
Melanie Joly, Canada’s foreign minister, stated at a press conference addressed to the American people, “Bear this in mind — Canada will always be your greatest friend, neighbor, and ally.”
‘Canada is also America’s top and largest buyer. Collectively, we purchase more American products than the United Kingdom, France, China, and Japan do combined.’
Canada isn’t responsible for increasing the prices of your food items or gas, nor is it affecting the costs of your constructions. Canada isn’t jeopardizing your employment.
Joly added that Canada will raise the issues of tariffs with European allies to coordinate a response to put pressure on the US.
The UK, meanwhile, said it would be taking a ‘pragmatic approach’ to the shock tariffs.
Speaking at PMQ’s, Keir Starmer said: ‘Obviously, like everybody else, I’m disappointed to see global tariffs in relation to steel and aluminium,’ the prime minister says, adding Canada is a ‘very important ally’.
‘But we will take a pragmatic approach. We are, as he knows, negotiating an economic deal which covers and will include tariffs if we succeed. But we will keep all options on the table.’
Germany has expressed no interest in engaging in a trade war with the United States.
A spokesperson for the economy ministry said: ‘We stand for clear trade rules and, at the same time, for a global, free trade area that functions on a rules-based basis, as stipulated by the WTO.’
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