Trump dominates Davos with tariff threats

The best news, analysis and comment from The Irish Times business desk

Weather warnings on the M50. Businesses across the State were making last-minute preparations yesterday evening and asking employees to work from home in advance of the arrival of Storm Éowyn in the early hours of Friday morning..  Photo: Bryan O’Brien/The Irish Times
Weather warnings on the M50. Businesses across the State were making last-minute preparations yesterday evening and asking employees to work from home in advance of the arrival of Storm Éowyn in the early hours of Friday morning.. Photo: Bryan O’Brien/The Irish Times

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US president Donald Trump has signalled that all imports into the country will face tariffs, a move that could spark tit-for-tat trade wars across the global economy as well as hitting Ireland’s valuable €54 billion export trade with the US. Eoin Burke-Kennedy reports from the world Economic Forum in Davos.

In Agenda, Eoin writes how the looming presence of Donald Trump dominated proceedings as the world gets to grips with his presidency and how that will disrupt global trade with his repeated threats to impose tariffs on goods entering his country.

In or out of any military alliance such as Nato, argues John FitzGerald in his weekly column, we need to greatly increase our naval and air defences to protect our vital sources of energy and our telecommunications links.

In this week’s interview slot Barry O’Halloran talks to Cathal Fay, chief executive of Yuno Energy who has seen the energy supplier go from a standing start 15 years ago to a thriving business offering competitive rates on electricity and gas

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In World Of Work, Anjli Raval finds that some companies are pushing hard for the return to the office, having made huge property bets pre-Covid, while other employers are taking a different approach, reimagining their corporate headquarters and office spaces to embrace more flexible models of working and new technology. Many hope to downsize space, while upgrading amenities.

Billionaires are in the headlines again, notes Cliff Taylor in Smart Money, with a report from Oxfam estimating that 11 Irish citizens now fall into this category, two more than in 2023. Their combined wealth exceeds €50 billion.

Oxfam used the report, issued to coincide with the annual Davos gathering of the super wealthy, to argue for new taxes on the rich.

And that brings an interesting issue into focus: while better-off people generally pay more tax on their incomes, the very richest often pay very little.

It is poised to be a year without Oscars glory for Ireland, but Screen Ireland was looking beyond the March 2nd ceremony at the launch of its 2025 slate of more than 80 productions across film, television drama and animation on Thursday.

An unlucky hand for best international feature hopeful Kneecap, which was unable to pick up a nomination, does not eradicate the industry’s recent acclaim. Laura Slattery reports.

Businesses across the State were making last-minute preparations and asking employees to work from home in advance of the arrival of Storm Éowyn in the early hours of Friday morning.

Retailers are preparing to close for the duration of the status-red weather warnings, which Met Éireann has extended to all counties at various intervals from 2am on Friday, with the storm expected to bring widespread destructive winds. Ian Curran has the details.

A total of four firms have been nominated to contest the Local Business Award category in The Irish Times Business Awards, which are run in association with Bank of Ireland.

Co Clare’s Armada Hotel, Fíbín Media Teo in Galway, Cork-based National Beauty Distribution and Dublin transport company ATC Computer Transport & Logistics are competing in the Local Business Award category, which is sponsored by Bank of Ireland.

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