Leitrim's IDA chief stresses need for negotiation at Davos Forum

IDA Chief Executive, Cloone native Michael Lohan, has emphasised the need for negotiation with regards the trade tensions between the US and Europe.

Lohan is attending the World Economic Forum in Davos, Switzerland.

Speaking from there, he spoke of the need to de-escalate the current tensions, with a potential trade war being damaging for all involved.

“We have to find a resolution through discussion and negotiation. Using certain tools would be damaging to the US and European economy,” he told the Irish Independent.

The tools he was referring to was a potential counter measure from the EU to the US trade threat to levy new tariffs on Denmark and six other EU states over their stance on Greenland.

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Lohan went to say that despite the current turmoil, global companies continue to operate.

“On an operational level, trade continues, it has to,” he stated.

“International companies require international presence, supply chains and workforce,” Lohan added.

He went on to say that Ireland must remain focused on innovation. “We need more companies in research and innovation. We need the skills of the future,” he stated.

“Technology change is accelerating, not slowing. Ireland is in a strong position but we need to maximise our strengths,” he added.

Lohan has held the position of IDA CEO since 2023.