By Business & Finance 
Michael Burke, Partner, Arnall Golden Gregory LLP, writes about 100 years of diplomatic relations between Ireland and the US.
This article was originally published in the Ireland INC US 250 Index 2024 Special Report. To read the latest issue, click here.
On October 7, 1924, Irish Ambassador Timothy Smiddy presented his credentials to U.S. President Calvin Coolidge, formally establishing diplomatic relations between two nations long connected by emigration. A century later, it would have been hard to predict the depth of the trade and investment partnership that has since developed between the United States and Ireland. As we look ahead, the next 100 years of U.S.-Ireland trade and investment will likely be marked by continued collaboration, innovation, and mutual economic growth.
One of the most significant drivers of this partnership will be the ongoing integration of advanced technologies. Already a hub for technology companies, Ireland is poised to further strengthen its position as a key player in the global tech supply chain. Opportunities for collaboration in fields like artificial intelligence (AI), quantum computing, biotechnology, and cybersecurity are vast. With Ireland’s skilled workforce and favorable tax policies, combined with U.S. investment and innovation, both economies stand to benefit from breakthroughs in these areas.
Pharmaceuticals and medical devices, industries where the U.S. and Ireland already have deep ties, will continue to thrive as both countries prioritize research and development. Ireland’s infrastructure for clinical trials and pharmaceutical manufacturing makes it an ideal partner for U.S. companies looking to expand their presence in Europe and beyond.
As the European Union (EU) evolves and potentially expands, Ireland’s role as a key U.S. gateway to Europe will become even more important. Both nations will need to collaborate closely to navigate potential trade tensions with other global powers and to secure critical supply chains, particularly in technology and pharmaceuticals.
In the coming century, we can expect to see increased regulatory alignment between the U.S. and Ireland, especially in areas like data privacy, financial services, and environmental standards. As both countries work to enhance data protection and cybersecurity, harmonized legal frameworks will facilitate smoother trade and investment. Additionally, the U.S.-Ireland tax treaty, which has historically encouraged U.S. investment in Ireland, may undergo updates to reflect modern business practices, including changes related to corporate structures and digital taxation.
Sustainability will also be a central focus of U.S.-Ireland trade going forward. Both nations are committed to reducing carbon emissions and developing green technologies. Ireland’s leadership in wind energy and other renewable resources positions it as a key partner for the U.S. in the transition to a green economy. Collaborations in clean energy, environmental technology, and sustainable agriculture will play a pivotal role in shaping future trade and investment relations.
As we celebrate 100 years of diplomatic relations between the United States and Ireland, it is clear that the future holds even greater promise for both nations. The next century of U.S.-Ireland trade and investment will be defined by deepened collaboration in technology, pharmaceuticals, and sustainability, fostering innovation that benefits both economies. As Ireland continues to serve as a gateway to Europe and a leader in green technologies, the strong ties between these two nations will only strengthen, ensuring a prosperous and dynamic partnership in the global economy.
