US president claims Dublin ‘took’ pharma industry as he holds White House press conference with Micheál Martin

Donald Trump has accused Ireland of stealing the US pharmaceutical industry and the tax revenue that should have been paid to the US treasury, in a blow to the Irish premier, Micheál Martin, who had hoped to emerge unscathed from a visit to the White House marking St Patrick’s Day.

The US president showed grudging respect for Martin, alternately ribbing and complimenting him, while also launching several broadsides against the EU.

He repeatedly took aim at Ireland’s historical low-tax policies, which helped lure US multinationals including Pfizer, Boston Scientific and Eli Lilly to its shores.

Big pharma now drives Ireland’s €72bn (£60bn) worth of annual exports to the US, with taxes paid in Ireland on drugs consumed in the US.

  • ms.lane@lemmy.worldEnglish
    4·
    1 day ago

    He repeatedly took aim at Ireland’s historical low-tax policies, which helped lure US multinationals including Pfizer, Boston Scientific and Eli Lilly to its shores.

    First time Trump has actually taken aim at something worthwhile. Ireland’s antagonistically low corporate tax rate and dodgy tax writeoffs for multinationals robs other countries of taxation used for public services so that Ireland gets just a little more for themselves, it’s a selfish, crappy move by Ireland and I’ve spoken out against it multiple times in the past.

    I don’t think Trump will get it right though. He’ll probably realise sooner or later that his company has an Irish subsidiary for tax reasons.