The government expects that the pharmaceutical industry will face tariffs of up to 15%—likely the highest rate it will encounter—under the newly agreed EU-US trade deal. Finalised yesterday, the agreement introduces fresh trade barriers for Irish companies exporting to the United States.
A standard 15% tariff will apply across most sectors, posing significant challenges for many businesses, particularly given the current 10% rate. While the pharmaceutical sector falls under the new deal, its exact terms remain unclear. Former President Donald Trump indicated that this area may be addressed in a future, separate agreement. Labour spokesperson on Enterprise, Tourism and Employment and Wexford TD George Lawlor has also expressed concern about the potential impact on Ireland’s vital pharmaceutical sector. While he welcomes the fact a deal has been reached he said the continued uncertainty on pharmaceuticals remains. Speaking to South East RadioNews he said, "And this highlights the difficulties of engagement with the Trump administration. We need absolute certainty to ensure that the stalled investment reignites. We also need to be certain that this is it, no more. We don't need any more Trump-driven games or distraction on trade. And the government now need to engage with those Irish businesses most impacted to ensure jobs are protected and that new markets in particular and opportunities in new markets are pursued."