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Taoiseach Micheál Martin has said he will tell US President Donald Trump that tariffs could cause damage to a “small open economy” like Ireland when the two men meet in Washington next month.

Speaking to reporters in Dublin, Mr Martin said that he “will give our perspective” on the issue at the White House on Wednesday week, 12 March.

The Taoiseach said there is “a two-way” nature to the economic relationship between Ireland and the United States and that he will listen to President Trump’s perspective on this.

Mr Martin also said he expects the war in Ukraine and the Gaza ceasefire to be discussed.

He said he is “first of all looking forward” to the meeting, which had been the subject of speculation that it may not take place in recent days.

There have been calls from the Opposition for the Taoiseach not to attend the annual event.

Earlier, it was confirmed that President Trump had formally invited Mr Martin to the White House to celebrate St Patrick’s Day.

In his letter, the US leader congratulated the Taoiseach on his recent appointment and highlighted the special bond between the Irish and American people.

A spokesperson for Mr Martin said that he is delighted to accept and is looking forward to meeting Mr Trump.

They said the Irish Embassy in Washington will continue to engage with the White House team on the details of the visit.

Social Democrats deputy leader Cian O’Callaghan, whose party suggested the Taoiseach should not travel to meet President Trump, said that Mr Martin should take the “strong chance” to raise issues such as tariffs and Gaza.

Minister for Justice Jim O’Callaghan said that Mr Martin will handle the event will great diplomacy and tact, adding that it was an honour to have been invited.

Speaking on RTÉ’s Morning Ireland, Mr O’Callaghan said: “I don’t think we should become too concerned about the identity of the person that holds the office of President of the United States”.

People will be proud of Mr Martin’s representation in the White House, the minister added, as they should be of his representation on any international stage.

Article Source – Taoiseach to raise US tariffs during White House meeting – RTE

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Consumer prices rose by 1.3% year-on-year in February compared to a 1.5% rise a month earlier, a flash estimate of the Harmonised Index of Consumer Prices from the Central Statistisc Office show.

The CSO said that energy prices are estimated to have risen by 0.7% in the month and decreased by 2.5% over the 12 months to February.

Food prices are estimated to have increased by 0.4% in the last month and by 2.2% in the last 12 months, while transport costs have risen by 1.7% in the month and are up by 2.8% in the year, it added.

Core Irish HICP, which excludes energy and unprocessed food, also rose to 1.7% in February from 2% in January, the CSO said.

Eurostat will publish flash estimates of inflation for the euro zone for February on Monday.

Article Source – Inflation at 1.3% in February, CSO’s flash estimate shows – RTE

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Euro zone inflation was heading back to target but there were still some worries about inflation, warranting caution in signalling further policy easing, the ECB concluded last month, according to the accounts of their January 29-30 meeting.

The ECB cut rates for the fifth time since June last month and hinted at even more policy easing, arguing that inflation was now well on its way back to its 2% target and there was no more need to restrict economic growth.

“Members concurred that the disinflationary process was well on track,” the ECB said in the accounts.

“There was some evidence suggesting a shift in the balance of risks to the upside since December,” the accounts added.

Investors now expect the ECB cuts the deposit by another 25 basis points next Thursday and see two more moves later in the year, taking the benchmark rate to 2% by the close of 2025.

While the ECB did not make any explicit commitment to further rate cuts, it said the current rate was still restricting growth and a move towards a more neutral setting was possible if inflation was under control.

“As long as the disinflation process remained on track, policy rates could be brought further towards a neutral level to avoid unnecessarily holding back the economy,” the ECB said.

The debate over cuts beyond March is likely to intensify in the coming week, partly because of opposing trends that may pull inflation in different directions.

Persistently weak economic growth and a sharp slowdown in wage growth are both likely to temper price pressures. However, energy costs are rising, the euro is weaker and a looming trade war with the US could all push consumer prices up.

Article Source – ECB accounts show lingering inflation worries – RTE

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Ireland will take a “step-by-step” approach in response to any trade tariffs imposed on the EU by US President Donald Trump, Taoiseach Micheál Martin has said.

Mr Martin said the detail of individual moves made by the White House would be key, but he reiterated his view that tariffs posed an economic risk that could prompt a spike in inflation.

Mr Martin is expected to meet Mr Trump in the White House next month as part of the Irish premier’s traditional round of political engagements stateside to mark St Patrick’s Day, however no formal invitation has yet been issued.

The Taoiseach met Ukrainian president Volodymyr Zelensky at Shannon Airport this afternoon.

Mr Zelensky stopped off in Ireland en-route to the United States for his own meeting with Mr Trump on Friday.

Speaking to reporters afterwards, Mr Martin was asked about Mr Trump’s threatened 25% tariffs on certain EU goods and how he would approach the issue when he meets the US leader.

“We’ll take it step by step,” he said.

“As I said, I think the detail of every proposal is the key here. Ireland is a small, open economy.

“In our view, free trade has created a rise in prosperity over the last 30 to 40 years that’s unprecedented in world history.

“It’s our view, and the view of the European Union, that tariffs can damage economies, can cause an inflationary spiral and increased prices for consumers.”

Donald Trump signalled that 25% tariffs on EU imports would be coming “very soon”

Mr Martin stressed that Ireland had a “wonderful relationship” with the United States.

“It’s an historic one, it’s very important to Irish people, to the Irish diaspora in the United States, over 30 million,” he added.

“And we have a very extensive footprint across the US – diplomatically, economically. I mean, in the most recent statistics Ireland is the sixth largest investor into the US, which is an extraordinary figure. But that’s the level of Irish investment into the US, the jobs we create in the US.

“So, it’s a very robust and important economic relationship, as well as culturally, socially and family-to-family as well. So, I’m looking forward to going to Washington.”

Mr Trump has reiterated his pledge to impose tariffs on the EU, telling reporters that “they’ve tariffed us”.

Speaking in the Oval Office, he appeared to refer to the Apple tax case which saw Apple pay €13 billion in back taxes to Ireland, after the company lost a fight against an order by EU competition regulators.

While using different figures, Mr Trump said that the EU “sue our companies. They sued Apple, got $16 or $17 billion dollars, which was, I think, a totally ridiculous decision”.

Mr Trump said that he does not like how the EU is treating the US.

Mr Trump yesterday signaled that said his administration would soon announce a 25% tariff on imports from the EU.

In response, the European Commission said that it will react “firmly and immediately against unjustified barriers to free and fair trade”.

“The EU will react firmly and immediately against unjustified barriers to free and fair trade, including when tariffs are used to challenge legal and non-discriminatory policies,” a commission spokesperson said.

“The EU will always protect European businesses, workers, and consumers from unjustified tariffs,” the spokesperson said in an emailed statement.

Additional reporting Tommy Meskill

Article Source – ‘Step-by-step’ approach to be taken on Trump’s EU tariffs, says Taoiseach – RTE

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Bitcoin fell to a three and a half month low today, dragged by uncertainty about US President Donald Trump’s tariff plans and crypto policy and flagging investor confidence after a $1.5 billion hack in rival coin ether.

Bitcoin, the world’s largest cryptocurrency by market value, was last down more than 5% on the day at $79,666, trading below $80,000 for the first time since November 11.

“Bitcoin’s fall below $80k shows that positive sentiments from a crypto-friendly administration and high-profile endorsements have run their course,” said Joshua Chu, Co-Chair of the Hong Kong Web3 Association.

The world’s largest cryptocurrency has shed a quarter of its market value since mid-December, when it topped $105,000 on optimism that the Trump administration would champion a strategic bitcoin fund and loosen regulation.

Beyond a flurry of appointments of crypto-friendly officials when he took office, there has been little concrete news around that policy for investors.

“Momentum ran out when there was no fresh news to keep driving the bullish narrative,” said Kyle Rodda, senior financial market analyst at Capital.com.

“On top of that, given the move in Mag 7 stocks we’ve seen, which is also a story of momentum slowing and valuations deflating, bitcoin, which still trades as a ‘higher beta tech’ play, is being dragged down by sell-off in Wall Street tech stocks.”

Ether, the second-largest cryptocurrency by market value, was down nearly 6% at $2,149.38, around its lowest since January 2024.

In addition, investors have been pulling money out of bitcoin-backed exchange-traded funds.

Global investors have been jittery on signs the so-called exceptionalism of the US economy might be fading, while Trump prepares to impose tariffs that have stoked fears of higher global inflation and slower growth.

Trump has indicated he plans to slap a 25% levy on imports from Canada and Mexico from early March, and more tariffs on China. In a sign of unease, safe-haven U.S. Treasury prices have rallied sharply, sending yields to three-month lows.

The crypto world has also been nervous after Dubai-headquartered Bybit, the world’s second-largest exchange after Binance, said on February 21 that hackers had stolen ether worth around $1.5 billion.

Bybit caters to more than 60 million users worldwide and offers access to various cryptocurrencies, including bitcoin and ether.

Blockchain research firm Elliptic said the hack was probably the single largest known theft of any kind.

“It’s a combination of macro forces. The Fed only planning one rate cut, more tariffs, uncertainties around geopolitics and war, and the ByBit hack didn’t help confidence either,” said Reuben Conceicao, chief strategy officer at digital wallet firm Metasig.

“It is hard for people to be excited and pump BTC when there are bigger issues at play.”

Article Source – Bitcoin slides more than 5% to lowest since November – RTE

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Despite concerns that landlords are leaving the market, new research from the State body which regulates the rental sector shows the number of registered private tenancies rose by 7.6% last year to 240,964.

The Residential Tenancies Board (RTB) also found there was a significant rise in tenancies in properties provided by Approved Housing Bodies which was up 14.5% to 50,507.

The number of private landlords increased by 4.5% to 105,594 last year.

Rosemary Steen, a director of the RTB, said the information “may challenge some common narratives on the housing sector but it is based on current data from the RTB’s national register of tenancies”.

Ms Steen said that while the standardised average rent for new tenancies has continued to grow, the rate of increase has started to slow.

“The big issue that we’re highlighting today is that the number of approved housing body tenancies, for the first time, has passed 50,000,” she said.

Speaking on RTÉ’s News at One, Ms Steen said that this was significant to highlight in terms of how the market may manage that addition going forward.

She said that the rate of landlords leaving the market is the lowest it has been since the RTB began collecting this data.

“Landlords across all cohorts, from small landlords owning one to two properties, up to those owning over 100 tenancies, they are all growing across all categories,” she said.

“We are seeing some slowing in the institutional investors, there’s been a small drop off in Dublin where that’s clearly starting to slow as some of those developments slow,” Ms Steen said.

Last year, there were fewer landlords ending tenancies to sell properties as the RTB received 16,546 notices of termination down 13% on 2023.

The RTB said the time to resolve a dispute between a landlord and tenant had fallen significantly from ten to seven weeks in mediation cases.

The organisation said standardised average rent for new tenancies rose by 6.4% annually to €1,693 in the third quarter of last year.

It added that the mean rent for existing tenancies rose by 4.7% annually to €1,429 which is €264 lower than for new tenancies.

The RTB has also announced that Athlone has met the criteria for designation as a rent pressure zone.

Nationally, the RTB has it has launched a compliance campaign where rents had increased by more than 2%.

It issued emails to 8,652 landlords with 16,052 tenancies which were of concern.

Ms Steen said that the RTB will continue to target non-compliant landlords who have not registered tenancies.

Article Source – Number of private tenancies rose 7.6% in 2024 – RTB – RTE

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The European Commission has today proposed making €100 billion available to support EU-made clean manufacturing, streamlining public procurement processes and simplifying state aid rules to give Europe’s ailing industries a boost.

The measures are part of a new Clean Industrial Deal under which the EU executive would provide support for energy-hungry industries that face “high energy costs, unfair global competition and complex regulations” while also boosting the clean-tech sector.

“The demand for clean products has slowed down, and some investments have moved to other regions. We know that too many obstacles still stand in the way of our European companies, from high energy prices to excessive regulatory burden,” European Commission President Ursula von der Leyen said in a statement.

“The Clean Industrial Deal is to cut the ties that still hold our companies back and make a clear business case for Europe,” she added.

The deal is part of a wider package of proposals to cut red tape, lower energy costs and incentivise the green transition, which the Commission hopes will help Europe’s ailing industry compete better against rivals in China and the US.

In the US, President Donald Trump has been rolling back regulation to spur growth.

The European Commission is also due to unveil plans to loosen rules on corporate sustainability reporting and supply chain transparency that businesses in Europe say are a drain on time and money.

The Commission aims to reduce reporting burdens by 25% in an initial wave of measures in the first half of 2025, a target it says would mean savings of €40 billion for European companies.

Businesses and industry lobby groups frequently complain that bureaucratic processes in the EU hold back the bloc compared with the US and China, which have faster-growing economies.

“It’s a machine we have created in Brussels – I don’t know if we need a DOGE programme – plenty of civil servants, which are in fact there to create regulations. That’s a problem,” TotalEnergies boss Patrick Pouyanne said this month, referringto the US Department of Government Efficiency, which is overseeing a sweeping government cost-cutting programme.

“It’s a question, can Europeans really re-think their own model?” he added.

The Commission also set out its “Affordable Energy Action Plan” that it said would shave tens of billions of euros off the energy bills of households and industry.

The Commission said that would be achieved in part through tackling structural challenges that are driving up energy costs, notably a reliance on imported fossil fuels and the lack of full integration of the continent’s grid.

It said it wanted EU LNG buyers to aggregate demand to increase the bloc’s pricing power, among other measures.

Separately, the Commission also intends to exempt most companies from its planned carbon border tariff on the grounds that they produce only 1% of emissions in the scheme, a draft proposal seen by Reuters showed.

Article Source – Europe launches plan to bolster clean tech sector, aid ailing industries – RTE

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Cost-of-living concerns and US policy shifts weighed on Irish consumer confidence in February, according to the latest Credit Union Consumer Sentiment Survey.

The study notes that a spate of announcements of price increases during the month suggest pressure on household finances remains an issue.

While it says increased concerns about the implications of policy changes signalled by the administration of US President Trump have also caused concern.

Of the 1,000 adults surveyed, 67% see US policy changes having a negative impact on the Irish economy, with half of them seeing US policy changes harming their household finances.

Analysing the findings, Economist Austin Hughes said that “given growing concerns around the threat posed by possible changes in US policymaking as well as a tendency towards weakness in February readings, the steady Irish confidence data should probably be seen as encouraging as well as somewhat surprising.

“The vagaries of a noisy and volatile rollout of US policy changes could prompt substantial shifts in Irish consumer confidence in coming months.

“In part, the resilience of Irish consumer sentiment in February reflects the relatively downbeat mood already prevailing that means many Irish consumers have already discounted fairly difficult economic and financial conditions in the year ahead,” he added.

Chief Executive of the Irish League of Credit Unions David Malone said the survey “suggests Irish consumers are bracing themselves for an uncertain economic landscape in 2025. Importantly, in such circumstances, they can be certain of the support of their local credit union to help them navigate the financial opportunities and challenges this may present”.

Article Source – US policy shifts weighed on Irish consumer confidence – RTE

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A survey of US companies that are members of the American Chamber of Commerce Ireland shows that 80% of respondents said they would continue to have a positive view of Ireland as an investment location if tariffs were imposed by the US on the EU.

According to the study, 90% of respondents said their corporate headquarters holds a positive view of Ireland for investment.

Almost two-thirds identified skills gaps in their organisation with digital and data, engineering, and machine learning and AI the main areas of concern.

Challenges to expansion were also highlighted, with housing supply identified as the key issue by 34% of respondents, which is up from 30% in the November survey.

Cost competitiveness and skills shortages were also noted as issues. The companies that responded to the survey represent 75,000 workers.

Some 63% of members surveyed said a skilled and highly skilled talent pool is Ireland’s main competitive advantage which has led their company to invest and expand here.

Meanwhile, 94% of respondents said Ireland’s position as a regulatory hub within the EU is important to Ireland becoming a leader in digital and AI with 60% of those saying this is extremely or very important to their company.

96% of respondents said EU investment in AI is important to ensuring Ireland remains a destination of choice for investment.

All of the members that responded to the latest survey said security of Ireland’s energy grid as an important factor to maintaining US investment in Ireland.

The research is being released as the American Chamber today hosts its annual Global Business Conference in Dublin which brings together industry experts and stakeholders to discuss the key global trends affecting member companies and the future of US foreign direct investment (FDI) in Ireland.

“As Ireland looks to grow inward investment and enhance the US-Ireland relationship, we must focus on addressing the challenges and opportunities that currently exist for business and talent, particularly housing, infrastructure and cost-competitiveness,” said American Chamber CEO Paul Sweetman.

“And while much has changed these past six months, a new government in Ireland, a new EU Commission, a new Administration in the US, addressing these competitiveness challenges, above all else, will be the most significant factor impacting our future, long-term economic growth,” Mr Sweetman said.

Article Source – US companies will keep positive view of Ireland even if tariffs imposed – survey – RTE

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The Competition and Consumer Protection Commission (CCPC) has launched a report calling for an online portal that would see used car buyers given free access to car-history information, including write-off status and mileage readings.

The CCPC said this would allow consumers to more easily access this information and help limit the number of dangerous, clocked, or poorly-repaired cars on Irish roads.

It said that before buying a used car, consumers must have access to important information about a car’s mileage, past accidents, safety recalls, and import status.

Currently, much of this information is collected by the State but is either inaccessible or available only for a fee from commercial car-history providers such as Cartell and Motorcheck.

These providers get information from the Department of Transport to create reports.

However, many consumers do not know about these services, the CCPC said.

It added that even when consumers do buy these reports, the information may not always be reliable, because car-history providers often have to get details on crash history and mileage from private sources, which might not always be accurate.

This means that many consumers might still depend on the seller for information.

Other EU states offer public access to car histories

The CCPC also found that Ireland compares poorly with other countries for disclosure of information on used cars.

Twenty EU member states – including Belgium, Estonia and Poland – offer public access to car histories, with the United Kingdom, New Zealand and Australia also giving consumers access to essential car-history information.

In 2024, the CCPC said it received 3,192 contacts to its national consumer helpline specifically concerning issues related to second-hand cars.

These contacts related to issues including clocked cars, previously crashed cars, excessive repair/resolution times, and recurring faults after repair.

Some consumers also reported issues with misleading advertising and mis-selling.

CCPC Chair Brian McHugh said: “The State can and must close the knowledge gap for consumers.

“Thousands of consumers contact the CCPC helpline every year when things go wrong with second-hand cars.

“CCPC officers carry out regular investigations, inspections and enforcement action, but arming consumers with information is the most efficient and cost-effective way to help safeguard every second-hand car sale in the country.

“What’s more, sharing car history with buyers will protect all road users, helping to keep dangerous cars off Irish roads.

“It is in the public interest to have an open, free and accessible State database of essential car history information.”

He added that “a car is one of the most expensive purchases a consumer will ever make, and buyers need accurate information so they can get value for money and a safe and reliable vehicle for them and their family”.

Department of Transport will review CPCC report

The Department of Transport has said it will review the CPCC report and consider any matters relevant to it in due course.

The department also pointed out that it launched its online Change of Vehicle Ownership in September last year, and that this service provides buyers with the vehicle registration number, make, model, colour, VIN number, number of previous owners, NCT expiry date, tax expiry date, date of registration in Ireland and import status before they proceed with a sale.

It also highlights if the current NCT status of the vehicle indicates a ‘Fail Dangerous’.

Insurance companies are required to notify the Department of Transport of vehicles deemed not suitable to be repaired and the Department said it will not allow such vehicles to be registered to a new owner.

This does not, however, include vehicles that the insurers choose not to repair for economic reasons.

Insurance Ireland has welcomed the CCPC report and said it “supports the recommendation that the Minister for Transport should ensure the creation of a one-stop shop online portal for accessing key car history information.

“This will be a great help for consumers, all the more so when it is enhanced to contain information on economic write-offs, vehicle recalls and mileage in line with other recommendations in the report,” the organisation said.

Article Source – CCPC calls for buyers to get free access to car history – RTE

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