The Irish government has raised alarms about a possible trade war with the US, warning of potential job losses affecting up to 80,000 positions, primarily within the multinational sector. Finance Minister Paschal Donohoe clarified that this figure corresponds to nearly half the workforce in this sector. The Irish government also rebutted claims from the US Commerce Secretary about Ireland's tax practices, maintaining that the country operates transparently, as demonstrated by its leadership in recent tax agreements. Additionally, economic data showed a significant trade deficit with the US, contradicting some claims.
Ireland's finance minister, Paschal Donohoe, stated, 'In the worst-case scenario, it is very possible that between 50,000 and 80,000 jobs that would have been created or kept within the economy won't be.'
Peter Burke, Ireland's enterprise minister, criticized Lutnick's accusations, asserting, 'We absolutely have no tax scams in this country... Ireland has led the revised tax agreement that increased our corporate tax rate from 12.5% to 15%.'
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