Following the imposition of a 20% tariff on EU imports by Trump, the White House exempted over 1,000 products, including pharmaceuticals and semiconductors. However, Ibec reported that only 25% of Irish exports to the US will be impacted, with food, drink, and medical devices facing the brunt of the tariffs. The tariff will lead to an overall increase in the effective tariff rate to 6.8%, potentially costing Ireland €4bn to €6bn in exports over the next year.
The tariffs will have a significant economic impact, according to the employers' group, which has calculated there will be a €4bn-€6bn loss of exports in the coming year.
The sectors worst hit with be food, drink and medical devices. Some pharma products, such as the ingredients used in drugs, may also be caught.
Having analysed the list, Ibec says only 25pc of Irish exports to the US will be affected.
The 20pc levy being put on all EU countries, including Ireland, will sit on top of existing tariffs, leading to an effective tariff rate increase.
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