Money blog: Trump throws another tariff shot at EU – as global trade war escalates | Money News

By Stephen Murphy, Ireland correspondent, in the Oval Office

Well that went well. An Oval Office meeting that in any other St Patrick’s week would have been regarded as almost unimaginably confrontational – this time round the Irish delegation will be floating on air.

Micheal Martin is the first leader to step into the Oval Office since Volodymyr Zelenskyy’s verbal bloodbath, and you could forgive the Irish prime minister for being apprehensive.

The Irish government knew it was in the president’s crosshairs – any small country boasting a huge trade surplus with the US was bound to be a target for this administration.

American figures put that surplus in goods at around €80bn (£73bn) last year, although Irish statisticians insist it was a mere €50m (£42m), still a record.

In the Oval Office, I managed to ask the president if Ireland was taking advantage of America.

“Of course they are,” he replied.

But Donald Trump is at heart a businessman and it sounded more like a sneaking admiration.

“I have great respect for Ireland, and what they did,” he said. “Ireland did exactly what they should have done,” he continued, referencing the luring of lucrative US multinationals.

But he placed the blame firmly on “stupid” American leaders who “allowed” it to happen. Martin sat beside him, saying nothing.

The EU was set up to exploit America, Trump said. It was “abuse”. Again and again, it was the Brussels bogeyman, not the Emerald Isle, that bore the brunt of his attack.

I asked if he would respond with more tariffs to the new EU tariffs.

“Of course,” Trump responded.

After an anecdote about the lack of Chevrolets in Munich, I asked would he now consider tariffs on the crucial European car industry – he replied in the affirmative.

Martin sat beside him, saying nothing. The minutes ticked away… Ireland was left unscathed.

They finished with a discussion about the president’s Irish resort at Doonbeg in County Clare. President Trump lauded the Irish efficiency at approving an expansion plan, and decried the subsequent EU approval period of several years. Once again – Ireland good, Brussels bad.

There was so much nervousness in Irish government circles. Now they must be wondering what the fuss was all about.