Northern Ireland Economy Minister addresses trade concerns at Momentum Economic Conference in Ballymena

Dr Caoimhe Archibald

Ballymena, April 03, 2025 – Northern Ireland’s Economy Minister, Dr Caoimhe Archibald, delivered a keynote address this morning at the NI Chamber of Commerce’s Momentum Economic Conference in Ballymena, urging resilience and strategic action in the face of global trade uncertainties.

Speaking under the conference theme “Delivering Momentum in an Uncertain World,” Dr Archibald highlighted the challenges posed by new tariffs from the Trump Administration and outlined a series of demands to the British and Irish governments to safeguard Northern Ireland’s economic progress.

Dr Archibald described the imposition of U.S. tariffs as “deeply regrettable,” warning that a potential trade war could “fuel inflation and risk recession.” She referenced a high-level meeting held yesterday with the First Minister, Deputy First Minister, the Irish Tánaiste, and the British Trade Secretary to address the issue.

Amid these discussions, she presented five key requests to both governments: to consider Northern Ireland’s unique circumstances in trade negotiations, to coordinate efforts and minimise divergence between Britain and the EU, to establish a well-resourced advisory service for businesses, to enhance existing trade support schemes like HMRC’s Duty reimbursement program, and to introduce an economic package to bolster international competitiveness.

The Minister emphasised her department’s commitment to monitoring the impact of U.S. tariffs and any retaliatory measures, announcing plans to meet with businesses and trade unions on Monday to evaluate the situation and determine next steps.

“The task is to maintain the positive economic momentum that has built up over the last few years,” she said, noting that Northern Ireland is currently outperforming Britain with higher economic growth and superior export performance.

However, Dr Archibald acknowledged external threats to this progress, citing not only U.S. tariffs but also recent UK policy shifts under the new Labour Government. She criticised increases in National Insurance, the introduction of an Electronic Travel Authorisation (ETA) impacting tourism, and delays in public service and infrastructure investment as additional pressures on the region’s economy.

Reflecting on past challenges, the Minister drew parallels with the 2008 financial crisis, the austerity measures of 2010, the Brexit referendum in 2016, the Covid-19 pandemic in 2020, and the 2022 Russian invasion of Ukraine.

“Our economy has faced a litany of crises,” she said, “but our businesses are adaptable. They are resilient! They find a way!” She encouraged the audience to take confidence in this track record as they confront the current moment.

Dr Archibald highlighted Northern Ireland’s strengths, including the recently established Economic Vision, which aligns with her four priorities: Good Jobs, Regional Balance, Productivity, and Net Zero. She pointed to Local Economic Partnerships in every council area, world-leading companies across sectors like advanced manufacturing and fintech, and top-tier universities and colleges.

She also praised the leadership of Invest NI under Kieran Donoghue and John Healey, as well as the work of Intertrade Ireland, noting that dual market access could become a significant advantage if firms pivot to alternative markets amid U.S. tariffs.

“We are well connected to each other, and we pull together across academia, the public and private sectors to get things done,” she said, crediting the region’s “highly skilled and dedicated workforce” and “creative, innovative entrepreneurs” as its greatest assets.

Closing her speech, Dr Archibald reaffirmed her commitment to supporting workers, families, and businesses.

“As Economy Minister, I will continue to have the backs of our people,” she pledged, promising close collaboration with the NI Chamber of Commerce and the broader business community to address challenges and seize opportunities.

The conference, attended by business leaders, policymakers, and stakeholders, underscored the urgency of maintaining economic stability in a rapidly shifting global landscape. As Northern Ireland braces for the fallout of international trade tensions, Dr Archibald’s address struck a balance of caution and optimism, rooted in the region’s proven resilience.