The Minister for Finance, Paschal Donohoe, has expressed deep concern over the potential economic fallout from proposed U.S. tariffs on pharmaceutical exports, which he warns could strike a significant blow to Ireland’s economy. Speaking on RTÉ’s Prime Time programme, Donohoe highlighted the government’s preparations for “real and significant” challenges should U.S. President Donald Trump implement his threatened tariffs on drug imports, including those from Ireland.
“I want to underline the scale of the change that we might have to deal with, the various significant and real difficulties that could present for our economy,” Donohoe told RTÉ. He acknowledged the seriousness of the potential disruption but remained optimistic about Ireland’s ability to respond, stating, “I believe that collectively, we will be able to rise to the test. I’m not going to deny for a moment, there will be challenges. It’s going to be so difficult, but that’s where our focus and our work will now begin.”
The comments follow President Trump’s announcement on Wednesday, reported by RTÉ, that the U.S. intends to impose tariffs on pharmaceuticals, specifically naming Ireland as a key producer of these goods. Trump argued that the tariffs aim to boost domestic production in the U.S., claiming, “We don’t make anything” locally.
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