The first batch of tariffs announced by President Trump on imported goods from Mexico, Canada and China are set to come into effect this week
The 25% rate on products from America’s neighbours on its northern and southern borders has already resulted in retaliatory tariffs being announced by the leaders of both Mexico and Canada.
And with the president set to impose further tariffs as his second term gets under way, here’s how that could impact Ireland.
More: Trump claims UK ‘out of line’ as he threatens to expand tariffs to Europe
Where have tariffs been announced so far?
Currently, President Trump has announced tariffs on goods from Mexico, Canada and China.
A 25% levy will be placed on most products coming into the US from both Mexico and Canada, with a 10% tariff on energy imports from the latter.
An additional tariff of 10% will be placed on goods from China, which already face varying duty levels depending on the product type.
Will products from the EU also face tariffs?
While the details of any potential tariffs on products from EU-member countries have yet to be announced, President Trump has confirmed that tariffs will “definitely” be placed on imports from the EU.
President Trump has long been critical of America’s trade deficit with the EU, which sat at around $131bn in 2022.
He said the deficit was “an atrocity” that means “they take almost nothing and we take everything from them”.
— Donald J. Trump (@realDonaldTrump) February 1, 2025
The threat of a trade war with the US has already impacted European stock markets, with around a 2% pre-market fall in France and Germany overnight.
How could this impact Ireland?
In 2023, Irish exports worth $58bn were sold to the USA, according to TrendEconomy.
This accounted for around 27% of Ireland’s exports, making it the biggest country for Irish goods sold abroad.
This is largely down to the sale of pharmaceutical products, which makes up around one third of Ireland’s total global exports.
Any tariffs which Trump places on the EU will impact all 27 of its member states, including Ireland.
An EU Spokesperson has said that the bloc will “respond firmly” to tariffs which it deems to have been “unfairly” placed upon its goods.
Experts have previously warned that a Trump second term could be a problem for Ireland if he pushed ahead with a US-EU trade war.
The president has also said that tariffs could be expanded to the UK.
“UK is out of line but I’m sure that one… I think that one can be worked out,” he told the BBC.
