US president Donald Trump has lashed out at Ireland, claiming it is ‘of course’ taking advantage of America in front of the country’s premier. 

During the meeting with Irish Taoiseach Micheal Martin in the Oval Office, President Trump addressed the EU’s decision to impose economic tariffs in response to his administration’s 25% tariff on global steel and aluminum imports.

‘The EU was set up in order to take advantage of the United States,’ he said.

When asked about whether Ireland was also taking advantage of the United States, Trump responded affirmatively, acknowledging the actions taken by Ireland. He expressed his respect for the country but criticized past U.S. leaders for allowing such situations to occur, referring to them as incompetent.

Trump highlighted the presence of American pharmaceutical companies in Ireland, emphasizing the country’s significant influence over the U.S. pharmaceutical industry despite its smaller population of five million people.

‘I have property in Ireland, as you know, and I love it, it does great, but I’d like to see the United States not have been so stupid for so many years, not just with Ireland, with everybody.

‘For instance, when the pharmaceutical companies started to go to Ireland, I would have said ‘that’s OK if you want to go to Ireland, I think it’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’. 

‘You know what they would have done? They would have stayed here.’

When asked whether the Taoiseach should be worried about the massive tariffs, Trump jokingly said: ‘Well he doesn’t look nervous. And if he was nervous, he wouldn’t show it.’

‘We do have a massive deficit with Ireland. Because Ireland was very smart. They took our pharmaceutical companies away from presidents who didn’t know what they were doing. 

‘The Irish are smart. They’re smart people. ‘

The Oval Office meeting was a far cry from the Taoiseach’s intentions of highlighting a ‘two-way street’ of investment between the nations in a bid to address concerns the president may voice around a US-Ireland trade imbalance.

The meeting comes amid heightened concern that Mr Trump’s protectionist approach to tariffs and tax could pose a significant risk to an Irish economy that is in large part sustained by long-standing investment by US multinationals.

These fears are being felt across Europe, which last night announced it would impose trade ‘countermeasures’ on up to €26billion (£22billion) worth of US goods following the US’ decision to impose 25% tariffs on global imports of steel and aluminium. 

The president of the European Commission, Ursula von der Leyen, said in a statement: ‘We deeply regret this measure. Tariffs are taxes, they are bad for business and worse for consumers. They are disrupting supply chains. They bring uncertainty for the economy.’ 

But Trump said during his meeting with Ireland’s leader that his tariffs plan will restore fairness to US trade. 

‘We’ve been abused for a long time and we will be abused no longer,’ Trump said. 

He added the US would respond to the EU’s counter-tariffs. 

Canada also announced a series of retaliatory tariffs against CAD$29.8bn (£16bn) from tomorrow, Canadian Finance Minister Dominic LeBlanc said. 

The tariffs will include steel products worth C$12.6bn (£6.8bn) and aluminium products worth C$3bn (£1.6bn), as well as computers, sports equipments and cast iron goods.  

Canada’s foreign minister Melanie Joly said at a press conference, speaking to the American people: ‘I want you to remember this – Canada is your best friend, best neighbour and best ally.

‘Canada is also America’s best and biggest customer. We buy more American goods than the UK, France, China and Japan altogether.

‘Canada is not the one driving up the cost of your groceries or of your gasoline or any of your construction. Canada is not the one putting your jobs at risk.’

Joly added that Canada will raise the issues of tariffs with European allies to coordinate a response to put pressure on the US.

The UK, meanwhile, said it would be taking a ‘pragmatic approach’ to the shock tariffs.  

Speaking at PMQ’s, Keir Starmer said: ‘Obviously, like everybody else, I’m disappointed to see global tariffs in relation to steel and aluminium,’ the prime minister says, adding Canada is a ‘very important ally’.

‘But we will take a pragmatic approach. We are, as he knows, negotiating an economic deal which covers and will include tariffs if we succeed. But we will keep all options on the table.’

Germany has said it is not interested in a trade war with the US. 

A spokesperson for the economy ministry said: ‘We stand for clear trade rules and, at the same time, for a global, free trade area that functions on a rules-based basis, as stipulated by the WTO.’