Trump Accuses Ireland of Stealing US Pharma Companies' Tax Revenue

Express Tribune

13-03-2025

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US President Donald Trump has accused Ireland of "stealing" US pharmaceutical companies and the tax revenue associated with them, in a pointed criticism during his meeting with Irish Taoiseach Micheál Martin at the White House.
The remarks, made at a press conference marking St. Patrick's Day, have raised tensions over Ireland's low-tax policies, which have attracted major US multinationals like Pfizer, Boston Scientific, and Eli Lilly.
Trump highlighted Ireland's success in attracting US companies, stating that the country now controls the US pharmaceutical industry. "You took our pharmaceutical companies and other companies… This beautiful island of 5 million people has got the entire US pharmaceutical industry in its grasp," Trump said. The pharmaceutical sector, along with other industries, plays a key role in Ireland's €72 billion annual exports to the US, with taxes on drugs consumed in the US paid to Ireland.
Despite his criticism, Trump acknowledged Ireland's diplomatic position, expressing that he did not wish to harm relations with the country, particularly given the strong support he enjoys from the American-Irish community. "I think the Irish love Trump," he remarked. "We won the Irish with a tremendous amount of [their] vote."
Trump also renewed his attack on the European Union, accusing it of using its tax policies to take advantage of the US. Referring to the EU's lawsuit against Apple, which forced the company to pay €13 billion in back taxes to Ireland, Trump argued that US companies have been treated unfairly by European authorities.
In contrast, Martin defended Ireland's stance, noting that the country had fought the EU's case against Apple in the European Court of Justice to protect US tech giants such as Intel, Microsoft, and Google, which have their European headquarters in Ireland. Martin also pointed out that Irish companies like Ryanair and AerCap, the world's largest aircraft-leasing firm, purchase more US-made Boeing planes than any other companies.
Trump emphasized that his criticisms were aimed at the European Union rather than Ireland itself, accusing the EU of unfair trade practices. He also reiterated his dissatisfaction with the EU's refusal to accept US farm products and their treatment of US car imports. "We take millions of cars from BMWs, Mercedes-Benz, Volkswagens, and everything. But how many Chevrolets do we have in Munich?" he questioned.
The meeting, which was primarily for the benefit of the press, lasted around an hour. However, the private bilateral meeting that followed between Trump and Martin lasted only 10 minutes, underscoring the importance the president places on media attention during diplomatic discussions.
Trump's comments come amid escalating trade tensions, with the EU preparing countermeasures against up to €26 billion in US imports in response to Washington's tariffs on steel and aluminum. EU officials have expressed frustration over the ongoing trade negotiations, suggesting that discussions with the US would be more productive if focused on creating value in the transatlantic trade relationship.