US President Donald Trump has announced a new phase in his protectionist trade policies, introducing a 25% tariff on all imports of cars, pharmaceuticals, and semiconductors.
The move aligns with his broader strategy to reduce the US trade deficit and encourage domestic production. Trump has indicated that these tariffs could increase further over the year, with more details expected in April following a review of other nations’ tariff policies.
Among the countries affected, Ireland stands to experience significant economic repercussions. As the largest exporter of pharmaceutical products to the US, Ireland’s trade surplus with the US has grown substantially, drawing Trump’s scrutiny. In 2024, Irish exports of medical and pharmaceutical products surged by €22.4 billion (29%), reaching nearly €100 billion. With pharmaceuticals being a cornerstone of Ireland’s economy, the imposition of these tariffs could severely impact both Irish exports and multinational pharmaceutical companies operating in the country.
Other countries facing challenges include Mexico and South Korea, which rely heavily on car exports to the US, and Malaysia and Singapore, which are major suppliers of semiconductors. India’s pharmaceutical sector is also particularly vulnerable, given that the US is its largest market.
The global response to Trump’s tariffs has been mixed. European Commission President Ursula von der Leyen has warned of “firm and proportionate countermeasures” against the US, while other nations are exploring diplomatic avenues to negotiate exemptions or mitigate economic damage. Meanwhile, the UK, despite its strategic steel exports to the US, is also grappling with the broader implications of these trade policies.
Trump has maintained that there will be no exceptions to the new tariffs unless foreign manufacturers shift their production to the US. This stance underscores his administration’s commitment to reshaping international trade dynamics, albeit at the potential cost of straining relations with key economic partners like Ireland.
Navigating Tariffs with Expert Guidance
Global Forwarding provides expert and always current guidance to help companies mitigate the impact of tariffs and regulatory changes. With dedicated brokerage teams in the USA and a strong presence in Ireland, we ensure your supply chain remains compliant and competitive.
For support in the US, email Marta and Fernando in New Jersey today.
Strategically located in Cork and between Dublin’s port and airport, Global Forwarding provides sea, road, and air freight services alongside customs clearance. We support Ireland’s capital and the counties of Waterford, Cork, Kerry, Limerick, Clare, and Tipperary.
Our team works with the country’s leading exporters, including pharmaceutical manufacturers and wholesalers, handling both general and temperature-controlled shipments.
For expert assistance in Ireland, EMAIL William Bashford, Managing Director, Global Forwarding Ireland.
