John Whelan: Ireland’s investors in the US under siege

Proposed US bill seeks to scrap existing US tax treaties with other countries and introduce tax measures against foreign investors

The profile of Irish companies operating in the US is hugely varied and includes many industries such as food and retail, building materials, technology, and financial services.

US president Donald Trump has just opened a new front in his rush to grab a slice of the earnings of foreign companies, now targeting those already located in the US.

The landmark tax bill, passed by the House of Representatives last Thursday, features the administration’s key economic and political priorities with a hefty section dedicated to ‘remedies’ against “unfair foreign taxes”.