Overview

• The US will impose tariffs on pharmaceutical products starting April 2, with Ireland heavily impacted due to its reliance on pharmaceutical exports to the US.
• Irish officials estimate potential economic losses of up to €17 billion in GDP and 80,000 fewer jobs over the next five years due to the tariffs.
• The Irish government has ruled out a cost-of-living package in the upcoming budget, citing economic uncertainty caused by the trade conflict.
• The EU is expected to respond with retaliatory tariffs, raising concerns about further escalation and potential long-term trade instability.
• Ireland is coordinating with EU allies and accelerating domestic measures, such as reducing energy costs, to mitigate the economic impact of the tariffs.