US President Donald Trump has again singled out Ireland's pharmaceutical industry as a target for tariffs. Trump was speaking as he announced 25% tariffs on cars and car parts imported into the US. Tariffs are effectively a tax on trade , applied to goods as they enter the country.
Speaking on Thursday, Trump suggested there would also be specific tariffs on pharmaceuticals as the US "doesn't make anything" in terms of drugs and medicines. "It's in other countries, largely made in China, a lot of it made in Ireland," he said. "Ireland was very smart.
We love Ireland. But we're going to have that." That echoes comments he made earlier this month when Ireland's taoiseach (prime minister) Micheál Martin visited the White House.
On that occasion he said: "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 grasp." In 2023, the US was the number-one country for Irish goods exports, buying products worth €54bn (£45bn). That meant 28% of Irish goods exports were sold into this one market.
Of that €54bn (£45bn), around €36bn (£30bn) related to pharmaceuticals and chemicals, illustrating how Ireland has become a major offshore manufacturing centre for US pharma companies. Irish exports to the US have continued to surge ahead of expected tariffs being imposed next week. The value of Ireland's US goods exports in January was almost €12bn (£10bn), up more than 80% compare.
