Trump announced a 20% tariff on the EU, affecting various sectors amidst an existing tariff structure. Ibec analyzed the impact, noting that only 25% of Irish exports to the US will be affected by the new tariffs. While sectors such as food, drink, and medical devices will face serious challenges, key products like pharmaceuticals and semiconductors will remain exempt. The projected economic impact includes a staggering loss of €4bn-€6bn in exports for Ireland over the next year, coinciding with an increase in effective tariff rates.
The 20pc tariff imposed by Trump on the EU will heavily impact sectors like food, drink, and medical devices, with expected export losses of €4bn-€6bn.
Ibec's analysis shows that only 25pc of Irish exports to the US will be impacted by the new tariffs, exempting key areas like pharmaceuticals and semiconductors.
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