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Trump’s tariffs are making headlines, with new 20% duties announced on goods imported from the EU. For Irish businesses trading with the U.S., these tariffs have serious implications. That’s why understanding their impact is crucial. An experienced accountancy firm can guide you through these changing rules with clarity.
A New Trade Barrier for Irish Exporters
In April 2025, President Donald Trump announced a sweeping 20% tariff on a wide range of goods coming from the EU. This is part of a broader push for ‘reciprocal trade’. These new tariffs are not a new development. They represent a fresh round of duties, broader in scope than those imposed during his previous term. The move is aimed at reducing trade imbalances. However, it poses serious questions for Irish exporters.
Many Irish businesses operate in sectors directly affected by U.S. trade policy. Food, pharmaceuticals, and technology are among those that could feel the pressure. Especially if products are caught in the crossfire of these new tariffs on goods.
What Trump’s Tariffs Could Mean for Irish Trade
The immediate impact of Trump’s tariffs could be rising costs for companies exporting to the US. If Irish products become more expensive for American buyers, demand may fall. This would force Irish exporters to either absorb the extra cost or lose competitiveness.
In addition, companies that rely on complex supply chains may find themselves affected in more indirect ways. For example, Irish goods shipped to the U.S. via other EU countries could be delayed, reclassified, or even penalised under the new rules. Similarly, businesses operating under the dropshipping model may face increased costs and delays, as suppliers outside the EU may also be impacted by tariffs on goods passing through intermediary countries
This development also brings phantom exports into the conversation. This is a term used when goods are counted as exports despite not leaving a particular country. The accuracy of export data may be questioned, and businesses will need to scrutinise their compliance and reporting.
Tax Implications and Compliance
While the focus is on tariffs, Trump’s tax rhetoric hasn’t gone unnoticed either. Any additional tax burdens or regulatory changes could further complicate U.S. – EU trade relationships. It’s crucial for businesses to seek tax advice and understand how this tax agenda may influence international operations.
How Irish Businesses Can Respond
Start by assessing how your business might be exposed to Trump’s tariffs. Are you exporting goods directly to the U.S.? Is your supply chain intertwined with affected EU markets? If so, now is the time to review trade agreements, contracts, and pricing models.
Irish companies should stay informed via government sources like Revenue.ie and Gov.ie’s trade policy updates.
In a surprising move, Trump’s administration decided to delay the implementation of all reciprocal tariffs on U.S. imports for 90 days. This temporary postponement allows for more discussions to take place between the U.S. and EU authorities. For Irish businesses, this delay provides some breathing room to adjust to the proposed tariffs. It also introduces an element of uncertainty, as the situation could change at any moment.
Trump’s tariffs could shift how Irish businesses trade with the U.S., creating challenges across various sectors. Preparing for these changes is vital.
Partnering with an accountancy firm can help you stay compliant and reassess your financial strategy. This ensures your business remains resilient in the face of global trade shifts. Explore our website today to learn how we can support your business in navigating new tariffs and global policy changes.