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00:00I'm Tyler Kendall, here on the sidelines of the UN General Assembly, and I'm pleased to say that I'm joined
00:05now by Ireland's Minister of Foreign Affairs and Trade, Helen McEntee.
00:09Minister, thank you so much for joining us here on Bloomberg, and we should say that Ireland right now holds
00:15the EU Council presidency at a time when trade relations may be escalating over a proposal for Canada to join
00:24as an associate member of the bloc.
00:25We've heard from President Trump threatening that we could see additional tariffs on EU goods or even a ban on
00:31certain EU exports.
00:33How seriously are you taking or preparing for that threat?
00:37Well, look, great to join you this morning. There's two things to that, really, I suppose.
00:41The first priority, from my perspective as Minister for Trade, and as you say, hosting the presidency of the Council
00:47now for the next number of months,
00:48is to make sure that the stability, I think, that we've found in the US-EU relationship and the trading
00:53relationship that that's maintained,
00:55it'll be no secret genuine last year, I think, was a particularly turbulent year, but with the agreement of the
01:01Turnberry agreement,
01:02it being ratified by the European Parliament, and now, obviously, the steps that the US government are taking,
01:07I think we're in a much more stable position, and from my perspective, and I think businesses' perspective,
01:12that certainty is what people are looking for on both sides, in the US and in Ireland.
01:16So what I want to see happen next is how do we take that and how do we move forward,
01:20how do we look at issues that we haven't addressed yet, and importantly, how do we reduce tariffs where possible?
01:25So I know you've mentioned perhaps increasing, but our objective is to reduce tariffs.
01:29Tariffs don't benefit anybody, they don't benefit the EU, the US businesses, or in particular consumers,
01:35so that's my focus and priority.
01:36I mean, the announcement by yourself underlying about a closer relationship with Canada.
01:40I mean, this is really about looking to see how we can strengthen relationships that we already have.
01:45I mean, we have a strong trading relationship with Canada.
01:48This year in Ireland, we'll celebrate 10 years of CESAT, that particular arrangement,
01:52and we're focused on, well, what more can we do that's not at the expense or instead of our important
01:57relationship with the US,
01:58because, to be quite frank, the US will remain one of the most important trading relationships that we have.
02:04It's a really important partner on so many different fronts from a security perspective,
02:07and just that people to people, you know, and I speak from an Irish perspective where that couldn't be any
02:12stronger.
02:13We're celebrating the 250th anniversary of the Declaration of Independence this year in the US,
02:18and I suppose we take great pride about the fact that three of those signatories were Irish people,
02:22that so many people who fought for independence here were Irish people.
02:25So we see that relationship as being really important, but in a world that's changing,
02:31in a world where, I suppose, the demands on us are changing, the needs on us are changing,
02:36it's important that we strengthen all of the relationships that we have, and that includes Canada as well.
02:40Well, you did mention wanting to see tariffs reduced.
02:43Ireland did recently secure a relative trade win.
02:46We're going to see tariffs go away when it comes to Irish whiskey.
02:49Are you looking for any other trade concessions from the US while you're here on the ground?
02:55Yeah, we had a really good visit from President Trump just two weeks ago,
02:58and, you know, look, we've been raising this issue particularly because of the all-island nature of it.
03:04So we have an all-island economy, and where you had seen reductions for the UK,
03:08obviously that then has an impact on how we produce whiskey and certain produce on our island as well.
03:13So it's important, and it was really welcomed, the decision taken by the President.
03:18What we'd like to see, obviously, is that that would apply across the EU,
03:21that we would see zero tariffs on whiskey and all types of alcohol and spirits,
03:25that's obviously where we can make progress around the agri-food sector and industry as well,
03:29is really important, but also around med-tech, life science.
03:32These are really strategic, important sectors for not just Ireland, for the EU, but for the US as well,
03:38and where you see those tariffs reduced, where you see barriers reduced,
03:41everybody benefits from it on both sides of the Atlantic.
03:44So that would be my priority.
03:45As I said, we have an informal trade meeting of the European Council coming up in Dublin soon,
03:50and this would be very much a focus of how do we take our relationship to the next step.
03:54I believe it's stabilised now.
03:56I believe we're in a good place.
03:57I think we're all focused on how we can keep that certainty for business,
04:00but how do we do even more for some of those sectors that I've mentioned and beyond as well.
04:04But are you expecting any imminent announcements regarding some of these sectors that you're talking about,
04:08whether that be agriculture or med-tech?
04:11I think it's a continuous piece of work that needs to happen,
04:15so that relationship between the EU and the US is in a good place.
04:19Our Commissioner for Trade is engaging regularly,
04:21and we are engaging also where we can with the US on moving things forward,
04:25and hopefully at the informal meeting we'll be able to take that step as well
04:29and to have some of those important discussions.
04:31But I think we have to take it step by step,
04:34and I think it's taken us just until this summer even to get us back to a place where we
04:38were last year.
04:39So the next few months it's really about looking beyond that.
04:41Do you have a timeline for when the Irish whiskey tariffs will fully come up?
04:47So we don't have that yet, but we're working through it,
04:49and obviously we'd like to see that as soon as possible.
04:52Businesses have been impacted already by the changes that have taken place,
04:55so obviously the sooner we can.
04:57But again, I'd like to see that apply across the whole of the EU.
05:00I'd like to see everybody benefit from these types of changes,
05:02and that will be a particular focus for us as well.
05:05This week in the US we're very focused on US-China talks,
05:09but next month there will be a huge focus on EU-China talks.
05:13The European Union has made very clear that they will use whatever levers necessary
05:17to ensure that China rebalances trade.
05:20That has been one of the main goals of these discussions.
05:23But Ireland is in a particularly unique decision as one of only two EU economies
05:28that currently runs a trade surplus with China.
05:32How does that uniquely position you when you are talking to other colleagues in your bloc
05:38about what the diplomatic push should look like?
05:41Well, look, when you take on the role as presidency chair,
05:45the role is to mediate and to make sure that you're bringing all sides together
05:48and that you put your own preference to the side
05:50or that you put your own situation to the side.
05:52So, I mean, there's two things in terms of the relationship.
05:55Firstly, China has always been and will always be an important relationship
06:00and an important partner for the EU.
06:02So, it's how do we frame that relationship and how do we move it to the next step?
06:05Again, in a world that's changing where the dynamics are changing.
06:09Secondly, there is a significant imbalance in terms of our overall trade,
06:12quite a significant imbalance on China's side.
06:16So, we've been very clear that we need to see that shift.
06:18We need to see that balance in a much better way.
06:22So, what we're looking at now and what the Commission is looking at
06:24and Member States are looking at is how do we use levers available to us,
06:28how do we put, you know, whether it's new mechanisms or tools that we need to use in play
06:33so that we can bring about that balancing that needs to take place.
06:38We've had challenges in particular in recent years around critical minerals,
06:41rare earth minerals where we've seen them weaponised.
06:43That can't happen.
06:44We know that our industries are so interlinked.
06:46We know that our supply chains are so interlinked.
06:48So, we need to make sure that that type of leverage isn't held over our head again.
06:53We also need to make sure that we're more resilient within the EU,
06:56within the single market.
06:58And during our presidency, we've set out three priorities.
07:01Two of them are, I suppose, one of them is security, the other is competitiveness.
07:05So, how do we, within the EU, actually make ourselves more competitive?
07:09How do we address some of the issues where we have a lack of particular critical minerals?
07:13How do we make sure that our supply chains can't be impacted by outside forces?
07:17How do we become less reliant on outside energy, resources, fuel?
07:22And how do we make sure that businesses can grow while at the same time being open?
07:27We're an open trading economy, the EU.
07:29We want to do business with the US.
07:30We want to work with China.
07:32We want to work with Canada and other states.
07:34So, how do we do all of this while maintaining that right balance?
07:38As you're outlining, trade dovetails with foreign policy and foreign affairs.
07:43Of course, the other side of your remit.
07:44So, in the final minutes I have you, I wanted to ask you a few questions about that.
07:48There was reporting from Reuters last night that Ukrainian President Zelensky met with the CIA Director,
07:53John Ratcliffe, at Shannon Airport.
07:55Can you give us any details about that, if the Irish government helped to coordinate it?
08:00Look, I mean, there's been a lot of engagement over the last couple of weeks,
08:03over the last couple of months and years between President Zelensky with the US
08:09and obviously from a European perspective, we have been working to support President Zelensky.
08:14As far as we are concerned, Russia is the aggressor here.
08:17That's very clear.
08:18They have been waiting a war for over four years now, over five years now.
08:22And it is our objective to maintain that support for Ukraine,
08:26to do whatever we can to bring Russia to the table,
08:29where quite frankly they have not come to the table in any credible way in recent years.
08:33And it's to make sure that at the end of whatever solution can be found
08:37or agreement can be reached, that the territorial integrity of Ukraine is upheld,
08:42that citizens are protected and any future agreement, that that can be protected as well.
08:47So, you know, look, any discussions that take place,
08:49be it with American counterparts, with Ukraine or anybody else,
08:53that has to be the objective overall.
08:55And we will support Ukraine in trying to achieve those overall objectives.
08:58There's, of course, a highlighting on military alliances amid the geopolitical uncertainty.
09:05And I know that it's been confirmed that there's been recent discussions
09:07between the Irish and UK Departments of Defence about Ireland's involvement
09:11in the UK-led Joint Expeditionary Force.
09:15This is seen as a complement to NATO in a way.
09:18Can you confirm if Ireland will either join or partner with that group?
09:23Well, look, firstly, Ireland is a neutral country.
09:25And what that means is we've given a clear commitment not to join any military alliance.
09:29And that's not going to change.
09:31So just, I suppose, to anybody maybe of the view that that might change,
09:36we're a neutral country.
09:37And that is essentially our commitment to stay that way.
09:41What I do think, though, and as Minister for Defence, I'm very clear,
09:43is that we need to work more closely with other countries.
09:45We already do it, but we need to look and see are there programmes,
09:49are there partnerships that are already active that we can do more with,
09:53and in particular in the maritime domain.
09:55So we have a maritime domain that is seven times the size of our landmass.
09:59We know that there are significant amounts of critical infrastructure
10:03under our water, cables, energy infrastructure,
10:06and it's really important that we protect those.
10:08We also know that there are significant risks,
10:10and new and increasing risks from the Russian Shadow Fleet
10:12that traverse our waters as well.
10:14So my objective is to make sure that we work with partners
10:17in the maritime domain, that we look at programmes like Jeff,
10:20are there opportunities for us to align ourselves without fully joining,
10:24are there opportunities for us to share our experience,
10:26our knowledge, our expertise and capabilities,
10:29while also learning from and obviously benefiting from that of others too as well.
10:33So I think Irish people see that the world is changing,
10:36that we need to be more focused on our security,
10:39we need to work more closely with international and European partners,
10:42that doesn't impact our neutrality,
10:44that doesn't change the fact that we are committed to not joining a military alliance.
10:48But we're not neutral when it comes to security threats.
10:51We have the same type of risks and threats as everybody else,
10:54and we're certainly not neutral when it comes to the war in Ukraine
10:56or when it comes to other conflicts where we see there are clear aggressors.
11:00We need to stand up for our people,
11:01we need to work closely with our partners,
11:03and that really is Minister for Defence is something that I've set as a key objective.
11:08I unfortunately only have three seconds left with you,
11:10but very quickly need to fit this in.
11:12I've heard you say that there needs to be an increase in defence spending,
11:14which goes to this conversation that you're outlining.
11:17I've heard it suggested within the government that can mean doubling.
11:20The spending, $3 billion within two years, is that accurate?
11:24Is that what you're looking at?
11:25Look, I think we're going to continue to increase over the next number of years.
11:29We haven't set a target.
11:30We haven't set a timeline of what that should look like.
11:32We've increased our current spending by about 43% in the last three or four years.
11:36Our capital has increased by 55% alone since the last capital budget.
11:41So as we're in talks at the moment, with budget talks happening as we speak,
11:44my objective is to increase it as much as possible and to grow our defence forces,
11:48but importantly to invest where the capabilities are needed.
11:51So what you'll see is a huge investment in our maritime capabilities.
11:54You'll see a huge investment in expanding the number of men and women
11:57that we have in Oglignar Heron, but you'll also see,
12:00which doesn't always require a huge level of funding,
12:03it's more partnership, it's working more closely with people,
12:05it's sharing that knowledge and that experience at a time when I think it's needed most.
12:09All right. Minister Helen McEntee.
12:11Minister, thank you so much for joining us here on Booklar.
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