The US Banks that fueled Ireland’s finance rebound face tariff angst

Banks are in the eye of the tariffs storm in a market that has long been heavily exposed to US multinationals.

When the US launched sweeping tariffs against trade partners in April, BlackRock Inc. Chief Executive Officer Larry Fink found himself in Ireland, one of the countries with most to lose if US multinationals were forced to curtail their operations overseas.

Fink, whose company was in the running for a major contract with the Irish government at the time, toed a careful line, claiming to “understand the logic” of Donald Trump’s move while not agreeing with it, and insisting there “does not need to be a true trade war.” Almost three months on, the Wall Street giants that created thousands of Dublin jobs since Brexit are in a similarly awkward position. They’re trying to balance the challenges created by their own government with the opportunities in a country that depends on US multinationals for more than 10% of its jobs and a big chunk of tax receipts.