Ireland’s pharmaceutical industry seems to have escaped a new 20 per cent US tariff on European Union goods, though future trade barriers remain a concern.
US President Donald Trump has introduced a minimum 10 per cent tariff on all imports, with higher rates—such as a 20 per cent tax on EU goods—taking effect from April 9.
While Ireland’s pharmaceutical exports are currently unaffected, the sector could face steep tariffs as the US pushes for increased domestic production.
The pharmaceutical industry, employing around 45,000 people, plays a crucial role in Ireland’s economy. Of the €72.6 billion in US imports from Ireland last year, approximately €58 billion came from pharmaceuticals and chemicals.
A full 20 percent US tariff and the potential EU response could have cut these in half, leading to significant economic repercussions.