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Researcher Brad Setser, who works for the Council on Foreign Relations, has doggedly tracked the activities of the pharmaceutical companies.
In 2023, in evidence to the US Congress finance committee he said: “There is no plausible explanation for the current scale of US imports of pharmaceuticals from Belgium, Ireland, Switzerland, and Singapore that isn’t tied to tax avoidance.
“The net result is a loss of tax revenue for the US Treasury and a smaller biopharmaceutical industrial base. This clearly leads to a less resilient US economy.”
All this makes Ireland a potential target, although there is no sign yet that the country will be singled out among EU members.
BBC News
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