Ireland’s pharmaceutical industry is set to feel the strain, as we await US President Donald Trump’s newly announced tariffs to be announced tonight.
It is expected to include levies on pharmaceutical exports—a sector that forms a cornerstone of Irish trade. The move has sparked concern among government officials, business leaders, and workers, as Ireland is one of the world’s largest suppliers of medicine to the US.
The pharmaceutical industry accounts for billions in exports annually and employs tens of thousands of people across the country. With Ireland acting as a key European base for major global drug manufacturers, the new tariffs could disrupt supply chains and increase costs for companies operating here.
Industry representatives warn that the tariffs could make Ireland a less attractive destination for investment. "This decision creates real uncertainty for one of our most vital sectors," said Paul Reid, CEO of Pharma Ireland. "The US is our biggest market, and any added costs could have long-term consequences."
The Irish government has vowed to work closely with EU leaders to mitigate the damage. Taoiseach Micheál Martin has urged a diplomatic response, warning that retaliatory measures could escalate trade tensions and harm Irish jobs. "A trade war serves no one, least of all a small, open economy like Ireland’s," he stated.
Minister for Enterprise, Trade and Employment Peter Burke echoed these concerns, stressing that Ireland’s close economic ties with the US must be protected.
The European Central Bank has already flagged the potential for wider economic instability, while financial markets reacted with caution following Trump’s announcement.
