Irish firms to share costs of Brexit
The Irish government is preparing to share some of the costs of leaving the European Union with firms in the EU, a move that could boost exports of some of its biggest exports and boost exports to the US.
The Irish government will share out costs from any trade deals with other EU states, which will be in addition to the costs that Irish firms would have incurred from Brexit.
Irish Trade Minister Michael Creedon said the move was necessary to reduce the potential loss of EU-Irish business.
“We will not be able to maintain our level of inward investment if we do not share in the costs,” he said.
“It is absolutely necessary to share the costs as it is essential that there is sufficient capacity in the Irish economy to support those firms and companies that want to come back.”
Mr Creedon is due to hold a joint press conference with US President Donald Trump at the White House on Monday morning.
He is due in Brussels on Monday to announce the details of a plan to boost exports from Ireland to the United States.
Mr Creedons comments come as Mr Trump prepares to sign the North American Free Trade Agreement (NAFTA) with Canada and Mexico.
Mr Creedan has said that the US would sign the trade deal if it is approved by Congress.
“The American people, when it comes to NAFTA, they want the best deal for them and we are going to give them the best, fairest deal for us,” he told the Irish broadcaster RTE last week.
“The United States will continue to be a leading member of the world’s largest trading bloc, and if the United Nations rules against us in the WTO, we will be ready to withdraw.”
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