Simon Harris Warns of Job Losses as Ireland Faces Economic Risks From Trump’s 30% US Tariffs; Pharma Sector Engaged

Ireland faces considerable economic challenges due to the threat of 30% tariffs on European Union exports proposed by US President Donald Trump. Tánaiste and Minister for Foreign Affairs and Trade Simon Harris has warned that these tariffs could lead to rapid job losses and have an extraordinary impact on the Irish economy. He highlighted that recent trade negotiations nearly avoided the tariffs but urged renewed efforts to protect jobs and economic stability. Harris also met with senior representatives from the US pharmaceutical sector, emphasizing the importance of the industry to Ireland and noting the EU's restraint in responding to the tariff threats. The Taoiseach, Micheál Martin, described the tariff threat as creating a framework of uncertainty that complicates economic projections for Budget 2026, while the Finance Minister, Paschal Donohoe, expressed confidence in Ireland's financial condition but cautioned against budget decisions that could harm the economy amid growing fears of a US-EU trade war. The Bank of Ireland acknowledged that the Irish economy is weathering the tariff storm but raised concerns about the economic outlook should tariffs remain. Meanwhile, US medtech company Abbott has assured the Irish government of its continued investment despite the tariff threat, and Novartis stated that the new tariffs will not affect its 2025 plans following positive talks with the US government. Harris also criticized the opposition for proposing increased spending amidst these trade uncertainties.