Building a Stronger Transatlantic Partnership Between the U.S. and Ireland

The U.S. Chamber of Commerce spoke with Ireland’s Prime Minister about the importance and future of the U.S.-Ireland partnership.


Air Date: March 16, 2022

Moderator: Marjorie Chorlins, Senior Vice President, European Affairs, U.S. Chamber of Commerce, Executive Director, U.S.-UK Business Council

Featured Guests: Taoiseach Micheál Martin, Prime Minister of Ireland, Philip Nolan, Director General, Science Foundation Ireland, Donald Patrick McDonnell, Ph.D., John Collison, President and Co-Founder, Stripe, Patrick Collison, CEO and Co-Founder, Stripe

Ireland and the United States are essential economic partners to each other. With the current state of the world, these two nations must strengthen their transatlantic relationship to support each other and other countries in need.

To encourage these crucial relationships, the U.S. Chamber of Commerce spoke with Micheál Martin, the Prime Minister of Ireland, about the importance and future of the U.S.-Ireland partnership.

The U.S. and Ireland Must Support Countries in Need like Ukraine

The U.S. and Ireland have shared a mutually beneficial relationship throughout history with the importance of their partnership only increasing in recent years.

“The vibrant connections between our two countries have never been as important as they are today,” said Martin. “They create space for the exchange of ideas and head to drive innovation in the transatlantic economy — an economy that is as strong and as resilient as the partnership [that] underpins it.”

He added that the relationship between the U.S. and Ireland is based on shared values — and the progress each country has made would have been impossible without the values of free democracy and rule of law.

“At a time when these values are under sustained attack, we must stand together,” Martin said.

“Sadly, there are others who now need our friendship and support,” he continued. “The devastating situation in Ukraine remains at the forefront of our minds. We stand in full solidarity with the people of Ukraine on these dark days.”

The U.S. and Ireland Must Reflect on Their Shared Challenges

In June 2020, the U.S. and Ireland inaugurated a new direct shipping route between Cork Harbor and the ports of Chester, Pennsylvania, and Wilmington, North Carolina, to combat the shared supply chain challenges.

“This new connection offers exporters a direct link between the European Union and U.S. markets — a key development at a time of global supply chain congestion,” said Martin.

This is a prime example of how both countries can assist each other. According to Martin, to further drive economic recovery and tap into the potential of our transatlantic relationship, we must deepen our understanding of the mutual benefits offered by trade and investment, double our efforts to build a transatlantic community of science and innovation partnerships, and harness the power of our global Irish network.

“It is worth reflecting on the common challenges the United States and the European Union share,” Martin said. “We both must renew intensive efforts to address serious health threats, act on the existential threat of climate change, further digitize our economies, and build fairer and more equitable and resilient economic systems.”

The U.S. and European Union Are Natural Partners

According to Martin, “the European Union and the United States are natural partners of first resort.”

“The transatlantic relationship is already the single biggest trade and investment relationship in the world, sustaining an estimated 9.9 million direct jobs in the European Union and the U.S. and representing over 60% of all global foreign direct investments,” he said.

He added that the new EU-US Trade and Technology Council, which launched last year, establishes a framework for the EU and U.S. to “cooperate on issues of critical importance to our economic recovery, resilience, and reform.”

“Working together, we can create mutually beneficial and shared force-mover advantage in key sectors,” he continued.

Martin added that Ireland, as the European headquarters for many innovative U.S. companies, plays a fundamental role in the transatlantic economic community. However, “what is perhaps less well-known is the growing investment presence that Irish companies have been building here in the United States,” he said.

“Guided by Ireland strategy, which aims to double Ireland's global footprint by 2025, we've been working here in the United States to ensure that we strengthen, deepen and expand our relationships,” said Martin.