A negative cost/price dynamic is alienating consumers and pushing many businesses to the brink
President-elect Donald Trump’s promise to impose blanket tariffs on all imports to improve the US trade balance and boost domestic manufacturing will exercise minds here in 2025. Photograph: Maddie McGarvey/The New York Times
For the last three decades, Ireland’s open, low-tax, export-led economy has surfed the globalisation wave like few others but it appears we are in a period of trade fragmentation.’s re-election as US president raises the prospect of a trade war between the European Union and the United States, something that could have negative consequences for Ireland.
“However, the pipeline for further FDI-led growth is likely to be negatively affected by the new administration,” he says. Ireland has spent the last 14 years in the eye of a storm over international tax. But it keeps coming out on top. The dichotomy between headline economic metrics and what households are actually feeling was a theme in the recent elections, both in Ireland and the US.
It’s hard to see how our high-price culture can be pegged back. The incoming government has promised greater levels of investment in public services and infrastructure to ease bottlenecks. But while recent interventions have had some success in bringing down the cost of childcare, the cost of housing, a long-running sore, continues to accelerate, with property price inflation now back in double-digit territory.
“The excess corporation tax driving us into surplus is high risk. Most of it comes from three US companies,” says Eddie Casey, chief economist with the
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