Risk of exodus by US multinationals

An exodus of US multinationals from Ireland and a loss of Irish access in Washington are among the main risks identified from Donald Trump’s election as US president.

Mr Trump’s plan to slash US corporation tax rates from 35% to 15% is a major plank of his desire to “bring jobs back home”.

Given Ireland’s huge success in attracting major US companies into Ireland through its 12.5% corporation tax rate, such a move by Mr Trump would be devastating in being able to retain those companies, which employ almost 200,000 people here.

The Irish Government’s unrivalled access to the White House each St Patrick’s Day is the envy of many other countries, large and small.

In light of highly critical comments from Taoiseach Enda Kenny, in which he called Mr Trump’s views racist, there are considerable fears that access will come to an end.

One leading Irish-American Republican, Paul Ryan, the speaker of the House of Representatives, looks set to lose his job after clashing with Mr Trump during the campaign.

While Mr Trump does have his golf course in Doonbeg in Clare, there is no guarantee the president-elect’s White House will be extending céad míle fáilte next March.

The Irish ambassador to Washington, Anne Anderson, a highly respected diplomat, will have her work cut out for her in the months ahead.

Chicago-based senator Billy Lawless has, in recent days, been devastating in his criticism of the Obama administration’s failure to address the case of the undocumented Irish in the US in the past eight years.

While Mr Kenny and other taoisigh have consistently raised the issue of the undocumented Irish, Mr Trump’s promise to reduce the numbers of illegal immigrants, and to even deport them, means that a resolution is now likely to remain unaddressed for at least another four years.

Mr Trump has also promised to abolish the J1 visa programme used by thousands of Irish students.

Another issue which appears to be in jeopardy is the North Atlantic trade deal between the US and the EU, known as TTIP, as well as the Trans-Pacific Partnership.