He made the comments during a bilateral meeting with Taoiseach (Irish prime minister) Micheál Martin as part of the Irish government’s traditional St Patrick’s Day engagements.

Earlier on Wednesday, the European Union announced it will impose counter tariffs on €26bn ($28bn) worth of US goods from next month.

Speaking to reporters in the Oval Office, Trump said: “There’s a massive deficit that we have with Ireland… we want to sort of even that out as nicely as we can, and we’ll work together.”

Martin told President Trump that foreign investment is a two-way street, adding that Ireland is “investing a lot more in America now”.The EU’s move is in retaliation to President Trump’s 25% tariffs on all steel and aluminium imports into the US, which came into effect overnight.

Trump said it had caused “ill will”.

“The European Union’s been very tough, and it’s our turn too. We get a turn at that also,” he said.

“I’m not knocking it, they are doing what they are doing for the EU, but it does create ill will and you know we are going to do reciprocal tariffs,” he added.

Official figures from Ireland’s statistics agency suggest the country had a goods-trade surplus with the US of just over €50bn (£41.6bn) in 2024.

Ireland’s goods exports to the US were €72.6bn (£60.4bn) in 2024 while its imports from the US were €22.5bn (£18.7bn).

Trump said that the EU was “set up in order to take advantage of the United States”.

When asked if Ireland was also taking advantage of the US, Trump said: “Of course.”

“I have great respect for Ireland, for what they did and they should have done just what they did. But the United States shouldn’t have let that happen. We had stupid leaders, we had leaders who didn’t have a clue.”

He added: “All of a sudden Ireland has our pharmaceutical companies, this beautiful island of five million people has got the entire US pharmaceutical industry in its grasps.

“The Irish are smart, smart people and you took our pharmaceutical companies – and other companies – but you know, through taxation, proper taxation, they made it very, very good for companies to move up there,” he added.

Trump also said that if he drained Ireland of all the US companies “maybe I’d lose the Irish vote”.

“We don’t want to do anything to hurt Ireland, but we do want fairness and [Martin] understands that,” he added.

However, Martin said the pharmaceutical companies “are doing very well in Ireland”, and that there was room to discuss a deal.

“I think there’s room for those companies to grow in America and many of them, by the way, have already announced fairly significant manufacturing investments now [in the US],” the taoiseach added.

Martin said Ireland had served the US companies well with a strong, educated workforce and access to the EU single market.

The president said Ireland’s housing crisis was caused by the country “doing so well”.

Housing availability and cost is a major political and social issue in Ireland, with reports stating thousands of new homes every year are needed to keep up with demand.

“You know why they have a housing crisis? Because they’re doing so well, they can’t produce houses fast enough,” Trump said.

Martin added it was a “good answer”.

However the remark has drawn criticism from opposition parties, with Sinn Féin stating that joking about the housing crisis is “never a good answer”.

Trump also praised Northern Ireland golfer Rory McIlroy and MMA fighter Conor McGregor during the visit.

He called McIlroy “talented”, adding he had played a round with him three weeks ago.

The president also complimented McGregor’s tattoos: “He’s got the best tattoos I’ve ever seen”.

Earlier, the US president said he was unaware that some political parties were boycotting St Patrick’s Day celebrations at the White House.

Sinn Féin, the Social Democratic and Labour Party (SDLP) and Alliance all ruled out attending events in Washington over the Trump administration’s stance on Gaza.

When asked about the boycotts, Trump replied: “I haven’t heard that, I really haven’t heard that.”

After the bilateral meeting, both Trump and Martin travelled to Capitol Hill to attend the Friends of Ireland luncheon hosted by the US House speaker, Mike Johnson.

Speaking at the event, Trump said the “Irish spirit is truly alive and thriving in America”.

The president met Deputy First Minister Emma Little-Pengelly, Northern Ireland Assembly Speaker Edwin Poots and Communities Minister Gordon Lyons.

Speaking to BBC Newsline after the meeting, Little-Pengelly said she had a good conversation with the president about the US and NI’s “long-standing relationship” and his keenness to work together.

However, she added, Sinn Féin First Minister Michelle O’Neill “should have been here”.

“I’m sure Michelle O’Neill would say she doesn’t think that I should have been here but of course it’s a joint office and I’m here representing the Northern Ireland government,” she said.

“I believe that it’s incredibly important to show up, turn up and speak up and that’s the key thing that I will always do.”

Prior to the meeting, Martin attended a breakfast hosted by Vice-President JD Vance.

Speaking at the breakfast he said that the US “has been a steadfast friend of Ireland for centuries”.

He said the peace process was a “signature achievement of US foreign policy”, adding that Ireland is “ready to play our part in supporting work to end conflict and to secure peace in the Ukraine or in the Middle East or wherever”.

Martin welcomed the “progress that has clearly been made” as a result of the Trump administration’s “unrelenting focus and effort” to secure peace.

Vance described the US-Ireland relationship as “one of the great alliances and great friendships between nations”.

He added that Ireland is a country with “incredible community… beautiful landscape and also a lot of interesting technological growth”.

“One of the more robust areas for us to work on with our Irish friends in the years to come is going to be technology and particularly artificial intelligence,” he said.

The taoiseach was the first EU leader to return to the Oval Office since the president’s bust-up with Ukraine President Volodymyr Zelensky.

The bilateral meeting came amid heightened concern over the future of Ireland’s economy, which is heavily reliant on US multinationals.

Trump sees this as a trade imbalance and is keen to entice those companies back to the US.

However, Martin said he would use his visit to the Oval Office to highlight an “increasingly two-way” trade and investment relationship.

Speaking ahead of Martin’s visit to the Oval Office, Democrat member of the House of Representatives Brendan Boyle told BBC News NI’s The View that “what the Trump administration is doing with respect to tariffs makes no economic sense, and it makes no sense in terms of our national security”.

Boyle said that imposing tariffs on Canada suggests that no country is “safe fully from this sort of madness”, including Ireland.

He added that Martin should “remind President Trump that Ireland, despite its small size, is one of the largest investors in the United States and one of the largest job creators in the United States”.

“On the one hand, [Trump] likes to say, you know, we’re the best, he’s the best, He’s the greatest. Everything is a superlative.

“But then in the next breath, he says, we’re suckers, we’re losers, we’re being taken advantage of by every other country.”

The two leaders are meeting as part of the Irish government’s traditional St Patrick’s Day series of engagements.

Earlier, Martin attended a breakfast hosted by Vice-President JD Vance.

Speaking at the breakfast he said that US “has been a steadfast friend of Ireland for centuries”.

He said the peace process was a “signature achievement of US foreign policy”, adding that Ireland is “ready to play our part in supporting work to end conflict and to secure peace in the Ukraine or in the Middle East or wherever”.

Martin welcomed the “progress that has clearly been made” as a result of the Trump administration’s “unrelenting focus and effort” to secure peace.

Vance described the US-Ireland relationship as “one of the great alliances and great friendships between nations”.

He added that Ireland is a country with “incredibly community… beautiful landscape and also a lot of interesting technological growth”.

“One of the more robust areas for us to work on with our Irish friends in the years to come is going to be technology and particularly artificial intelligence,” he said.

The taoiseach is the first EU leader to return to the Oval Office since the president’s bust-up with Ukraine President Volodymyr Zelensky.

Discussions are expected to cover a broad range of issues, including the deep ties between the US and Ireland, shared global challenges, including the war in Ukraine and the situation in the Middle East, as well as the two countries’ economic relationship.

The bilateral meeting comes amid heightened concern over the future of Ireland’s economy, which is heavily reliant on US multinationals.

Trump sees this as a trade imbalance and is keen to entice those companies back to the US.

The taoiseach arrived at the White House hours after the EU announced it will impose counter tariffs on €26 billion ($28bn) worth of US goods from next month.

The move is in retaliation to Trump’s 25% tariffs on all steel and aluminium imports into the US, which came into effect overnight.

However, Martin said he would use his visit to the Oval Office to highlight an “increasingly two-way” trade and investment relationship.

“Ireland is the sixth-largest source of foreign direct investment in the US, supporting hundreds and thousands of jobs across the US,” he said.

“This substantial investment underscores the commitment of Irish enterprises to the US market and reflects a deepening economic interdependence between the two countries.”

The meeting is also an opportunity for the taoiseach to update Trump on the situation in Northern Ireland, recognising the huge contribution the US has made to securing peace.

First Minister Michelle O’Neill will not be heading to the White House as she is boycotting the St Patrick’s Day festivities there due to Trump’s stance on Gaza.

However, Deputy First Minister Emma Little-Pengelly will be at the White House reception on Wednesday and is likely to meet Trump.

The two executive ministers led a delegation to North Carolina earlier in the week alongside representatives from Queen’s University Belfast, Invest NI, Catalyst and Software NI.

NI Chamber CEO Suzanne Wylie said the visit was part of a long-term process and they would be inviting a trade mission back to Northern Ireland in the summer from North Carolina.

However, there has been more geopolitical uncertainty this year than last year, including President Trump’s introduction of some tariffs.

She said that while there was uncertainty across the globe right now, “businesses really just want to create the relationships and get on with doing business with each other and continue to look for further investment in some of our innovative companies”.

Speaking to BBC News NI ahead of the meeting between Trump and Martin, Democrat member of the House of Representatives Brendan Boyle said that “what the Trump administration is doing with respect to tariffs makes no economic sense, and it makes no sense in terms of our national security”.

Boyle said that imposing tariffs on Canada suggests that no country is “safe fully from this sort of madness”, including Ireland.

He added that Martin should “remind President Trump that Ireland, despite its small size, is one of the largest investors in the United States and one of the largest job creators in the United States”.

“On the one hand, [Trump] likes to say, you know, we’re the best, he’s the best, He’s the greatest. Everything is a superlative.

“But then in the next breath, he says, we’re suckers, we’re losers, we’re being taken advantage of by every other country.”

Boyle said that Ireland “punches well above its weight” in terms of investment in the United states, and reminding Trump of that “would go a long way”.

This will be the tightest of political tightropes for Micheál Martin.

He’s got a €50bn (£42bn) tax treasure chest to protect and can’t afford any slip ups.

His moment of jeopardy may come when President Trump invites questions from the press.

Pressure points include tariffs and Dublin’s perceived anti-Israel bias.

Luckily for the taoiseach the move towards a ceasefire in Ukraine and the resumption of US military aid may dominate the questions.

Trading relationships and tariffs may be one for another day.

The taoiseach had hoped the move towards a ceasefire in Ukraine and the resumption of US military aid would have dominate the questions

But the EU decision to hit back in the looming tariff war imposing €26bn on US imports could put a strain on discussions in Whitehouse

The meeting is scheduled to take place on 12 March, five days before the Irish public holiday.

A spokesperson for the Taoiseach Micheál Martin told BBC News NI that he was “delighted to accept and looks forward to meeting the president”.

“The embassy in Washington will continue to engage with the White House team on the details of our visit,” she added.

Irish broadcaster RTÉ reported that Martin received the invitation in a letter from the US president.

It said Trump’s letter congratulated the taoiseach on his recent appointment and highlighted the special bond between the Irish and American people.

It is customary for Irish leaders to travel to the US every March for an audience with the president at the White House.

They present their host with a bowl of shamrock – a tradition that dates back to President Harry Truman in 1952.

Martin is serving his second term as taoiseach, having previously led his country from June 2020 to December 2022.

However, he was not able to visit the White House on St Patrick’s Day in 2021 because of Covid travel restrictions.

He did make the trip to Washington DC in March 2022 but he could not visit the White House in person because he contracted Covid while in the US.

As a result, Martin’s previous St Patrick’s Day duties as taoiseach consisted of video calls with Trump’s predecessor Joe Biden.

The annual Washington visit is viewed as an important political opportunity to strengthen US and Irish diplomatic relations and boost cross-Atlantic trade.

The Republic of Ireland is particularly vulnerable to threats of US tariffs on European imports and Trump’s “America First” policy.

In 2023, the US was the number-one country for Irish goods exports, buying products worth €54bn.

That meant just over a quarter of Irish goods exports were sold into this one market.

Earlier this week, Trump said he was planning to impose tariffs of about 25% on goods made in the European Union, of which Ireland is member.

On Thursday, the Tánaiste (deputy PM) Simon Harris told the Dáil (Irish Parliament) it has never been a more important time for ministers to travel abroad for talks.

Almost 40 Irish ministers and other state officials will make St Patrick’s Day trips to destinations including the US, Australia, Japan, India, Mexico and Thailand.

Visiting Trump in the White House can also have political perils at home however because of his controversial foreign policy announcements.

In Northern Ireland, Sinn Féin and the Social Democratic and Labour Party (SDLP) said they would boycott the White House this St Patrick’s Day because of Trump’s stance on the Israel-Gaza conflict.

The Alliance Party has also confirmed they will not attend the events, but Northern Ireland’s Deputy First Minister Emma Little-Pengelly is going to Washington DC.

Asked about her plans, Little-Pengelly said it was important to “maintain long and rewarding” relationships with the US.

“It’s important we engage regardless of what our personal views may or may not be. That’s what I’ll be doing on St Patrick’s Day,” she added.

It follows a clash in the Dáil (the lower house of the Irish parliament) about the ongoing housing crisis in the Republic of Ireland.

Responding to stinging criticism from the Sinn Féin leader Mary Lou McDonald on Wednesday, Taoiseach Micheál Martin spoke in Irish and said McDonald was “ag insint bréaga”, which translates into English as “is telling lies”.

Dáil Standing Orders debar any member from accusing another TD of being: “a liar, lying or telling a lie”.

An incensed Sinn Féin leadership intervened immediately, led by the party’s deputy leader, Pearse Doherty TD (Irish member of parliament), who is a fluent Irish language speaker from the County Donegal Gaeltacht (Irish language speaking region).

The taoiseach insisted that he never called the Sinn Féin leader a liar.

Doherty’s intervention was significant because many members of the Dáil do not speak the native Irish language fluently or do not always fully understand Irish when it is spoken.

The Irish language is recognised as the country’s first official language.

It was suggested during Wednesday’s controversy that the Ceann Comhairle (speaker of Dáil Éireann), Verona Murphy, may not have fully understood or heard what the taoiseach had said when he spoke in Irish while addressing the Sinn Féin leader.

Murphy said at the time that she “did not hear the remarks” and pledged to review the transcript.

Having done so, the Ceann Comhairle has now responded to a letter of complaint from McDonald.

Murphy said she has asked the taoiseach to “review his remarks in the context of the rulings of the chair on parliamentary debate”.

It now remains for the taoiseach to decide how he will respond to the Ceann Comhairle and if this might involve a retraction of the Irish words “ag insint bréaga” (“is telling lies”) and a correction of the Dáil record.

The Dáil was suspended several times on Wednesday after a bitter row between government and opposition parties.

Martin is one of the longest serving TDs (MPs) in the Dáil having been first elected in 1989 to the constituency of Cork south central and was previously taoiseach between 2020 and 2022.

He will now hold that office until 2027 when Fine Gael leader and Tánaiste (Irish deputy prime minister) Simon Harris is due take over.

In his acceptance speech, Martin said that it was “a sad development in many parliaments in the world that they have become more angry and divisive.

“They have become forums dominated by the inflated rhetoric of demonstrations rather than a place where different groups can argue in good faith and respectfully disagree,” he said.

He added it was the anniversary of the death of his father Paddy.

“This week every year I remember all he did for us and the values which he lived by every day,” he said.

Earlier on Thursday, Martin travelled to Áras an Uachtaráin (the presidential residence) to meet Michael D Higgins where he received his seal of office.

He then returned to Leinster House where cabinet ministers were appointed.

The 15 incoming ministers, alongside the taoiseach and tánaiste, arrived at Áras an Uachtaráin shortly before 20:00 local time to receive their seals before taking part in the first official cabinet meeting.

Martin was due to be elected taoiseach on Wednesday but there were chaotic scenes in the chamber.

Sinn Féin and other opposition TDs (MPs) had voiced their anger at plans to allow independents who are supporting the government to sit on the opposition benches.

Fianna Fáil and Fine Gael emerged as the largest and third-largest parties respectively following November’s election and committed to returning to government together.

However after the Green Party – their coalition partner from 2020-2024 – was reduced to a single seat, they gathered the support of a small group of independent TDs.

This was necessary to give them a majority in the Dáil.

Sinn Féin remains the largest opposition party after winning 39 seats.

Controversy began after four of the independent TDs who had agreed to support the government wanted to form a “technical group” along with two other independent TDs which would allow them speaking time and other rights from the opposition benches.

This group would be known as the Regional Independent Group.

Ceann Comhairle (Speaker) Verona Murphy said she would consider submissions opposing the plan, but permitted the group to “provisionally” take their original seats for now.

All other opposition groups are against the idea, saying the independents who were supporting the government wanted to be in government and opposition at the same time and were taking time away from those who wish to scrutinise the government.

Discussions took place throughout Wednesday to try to find a solution but the talks failed.

There were bitter exchanges across the chamber on a number of occasions before Murphy said proceedings would resume on Thursday morning as she was shouted down by opposition TDs.

As Murphy returned to the chamber at 16:00 after a number of suspensions, opposition TDs rose to their feet.

The ceann comhairle then abandoned plans to elect a taoiseach, with proceedings ending in shouting between TDs.

Harris said the disruption on Wednesday was utterly farcical, describing it as an effort to “obstruct and shout down, to disrespect the Ceann Comhairle and the constitutional office”.

Martin said the delays were a “premeditated, coordinated and a choreographed position by the opposition, in particular the Sinn Féin party”.

However McDonald claimed the government had “demonstrated incredible arrogance”.

aaOn Thursday morning Ceann Comhairle (Speaker) Verona Murphy ruled that those independent TDs supporting the government would not be given a status of an opposition technical group for the day’s Dáil sitting.

The government also committed to addressing some of the issues raised by the opposition parties

Welcoming the move, Sinn Féin leader Mary Lou McDonald said the government has now “finally acknowledged that there has to be differentiation between government and opposition and no TD can be in government and opposition”.