Donald Trump has accused Ireland of using tax policies to lure away companies from the US. Speaking in the Oval Office next to the Irish premier Micheal Martin, he criticised Ireland’s use of its tax system to attract pharmaceutical and other companies.
He said: “We do have a massive deficit with Ireland because Ireland was very smart. « They took our pharmaceutical companies away from presidents that didn’t know what they were doing and it’s too bad that happened. When the pharmaceutical companies started to go to Ireland, I would have said that’s okay if you want to go to Ireland, I think that’s great
« But if you want to sell anything into the United States, I’m going to put a 200% tariff on you so you’re never going to be able to sell anything into the United States. »
The billionaire was referring to Dublin’s introduction of a 12.5% corporation tax rate in 1997, leading to major US firms recording substantial revenues in the country.
Mr Trump also hit out at the European Union during his remarks in the White House.
He said: « I got the approvals from Ireland so quickly; they were so professional. But I was told something that bothered me. You also have to get approval from the European Union.
« I said: why do I have to go to the European Union to expand a hotel that’s in Ireland? They said, well, that’s the way it is. I said: well, shouldn’t that go fast? They said: no, it’ll take at least seven years.”
He also threatned new tariffs on EU car imports, especially German manufacturers.
He said: “We have a problem with the European Union. They don’t take our farm products. They don’t take our cars. We take millions of cars. BMWs and Mercedes-Benz and Volkswagens and everything.
“I said to Angela Merkel at the time, ‘Angela, how many Chevrolets do we have in the middle of Munich?’ ‘Why none.’ I’m not happy with the European Union, and we’re going to win that financial battle.”
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