President Trump made many wild promises before he was elected, all designed to “Make America Great Again” by reversing unstoppable trends in today’s ever more connected and automated world.
One was “to bring the jobs home” by changing tax laws that make operating outside of America so attractive to American firms.
Sceptics suggest this policy might further enrich corporate America but do little enough for those millions of blue-collar workers left high and dry in the Rust Belt. It may do little enough for workers in Ireland’s pharma sector either.
Eli Lilly has delayed a €200m investment because it is unsure how Mr Trump’s plans will change its balance sheet. The investment could, and hopefully will, create hundreds of jobs when the details of Mr Trump’s tax policies are finalised, but the prospect of jobs moving to America is, at this moment, very real.
That reverse could set our economy back years. With friends like this who needs enemies? Another issue so for the Taoiseach to discuss on his “vital” St Patrick’s Day White House visit. Best of luck with that, Mr Kenny.
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