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LAST UPDATE | 2 Apr
DONALD TRUMP HAS announced a 20% tariff on imports from the European Union.
The US President made the announcement tonight at the White House, producing a giant chart at the Rose Garden event to reveal tariffs on countries around the world of between 10% and 46%.
Delivering a freewheeling, long and rambling speech, he said the US had long been taken advantage of by cheaters and “pillaged” by foreigners. He said today would forever be remembered as the day that America’s destiny was reclaimed.
The government and Irish business groups have reacted with dismay and disappointment, with Taoiseach Micheál Martin insisting there is “no justification” to the measures and that they will only serve to hurt people’s livelihoods on both sides of the Atlantic.
Updates by Jane Moore with Mairead Maguire, Diarmuid Pepper and Daragh Brophy.
Hello! Welcome to our coverage of what Donald Trump has dubbed “Liberation Day”.
The US President’s looming announcement of sweeping tariffs on goods imported from countries across the world are due to be announced this evening – though we still don’t really know who they will affect, or if they will be the same for all countries.
What we do know is that the Government is preparing for their impact on Ireland, with Cabinet already planning meetings to deal with the fallout in the coming days.
Trump is expected to make the announcement at around 9pm Irish time.
So what has Donald Trump said about the tariff announcement so far?
Not too much. The White House has kept details of the plan pretty guarded, but the plan currently being prepared for is an initial 20% blanket tariff on all EU countries – including Ireland.
We do know that Ireland will likely be hit harder than other EU countries, given how reliant the pharmaceuticals sector here is to the US export market.
Trump himself namechecked Ireland last month while he pledged to introduce tariffs on pharma imports, saying: “Ireland was very smart, we love Ireland.”
Ireland currently exports €72 billion worth of goods to the US, €58 billion of which is pharmaceuticals. Any tariffs on this sector is likely to drive up costs and potentially force multinational companies to reconsider their operations in the country.
The Irish Pharmaceutical Healthcare Association has told The Journal that it is less concerned that pharmaceutical companies are “going to pick up and leave” due to the trade war.
However, it said the real impact in the dispute between the White House and the EU will be seen “four or five years from now”.
Our political editor Christina Finn reported earlier that the Government is ramping up preparations for the coming deals to deal with the fallout from this evening’s announcement.
The Cabinet committee on the Economy will meet for the first time next week to assess the tariff implications for Ireland, while Tánaiste and Trade Minister Simon Harris will convene the third meeting of the Government Trade Forum on Friday.
The meetings that have taken place between Harris and other EU foreign and trade ministers so far have had a particular focus on pharmaceutical industries, with the Tánaiste speaking to over a dozen countries with strong pharma industries to exchange views on how best to respond.
You can read her full article here.
Speaking in the Dáil today, Taoiseach Micheál Martin said that the tariff announcement is “without question, the most serious issue to face the Irish economy in a long time”.
“It’s clear that the scale of these tariffs will be very, very significant in European terms,” he said.
Martin added that the Government’s “fundamental objective” is to protect Irish jobs.
Ireland does not believe in tariffs - Ireland hasn't started this.
— Micheál Martin (@MichealMartinTD) April 2, 2025
We will work with the European Union - the government's fundamental objective is to protect Irish jobs. pic.twitter.com/w6ksmfxiqA
Meanwhile, Christine Lagarde, the President of the European Central Bank, was speaking to Newstalk this morning ahead of Trump’s announcement this evening.
She told The Pat Kenny Show that predictability is in very short supply at the moment.
“I have never mentioned the word ‘uncertainty’ as many times as I have in the last few weeks,” she said, stating that right now, we simply don’t what the impacts of the tariffs will be for the rest of the world.
“What we know is it won’t be good for the global economy,” she said, adding that it will unsettle the trading world and will not be good for America or Europe.
She said her job is to anticipate and explain what the economic impacts will be, but the decision on what to do next will be a matter for European leaders.
Lagarde said the divergence between the US and the EU presents the latter with an opportunity to exert its own independence, in several areas including trade and defence.
“I call it the beginning of a march towards independence,” she said.
“What I mean by that is we should not be exclusively focused on what is happening on the other side of the pond, and we should focus on the strength that we have at home and how we can regain a degree of independence that we don’t have. And that applies to defence. It applies to trade, of course, it applies to finance.”
Lagarde is to be awarded the Sutherland Leadership Award at the Business and Finance Awards in University College Dublin later this evening.
'We should not be exclusively focused on what is happening in the US, we should focus on the strength that we have at home.' @Lagarde on @PatKennyNT pic.twitter.com/mmqrwjZsjt
— NewstalkFM (@NewstalkFM) April 2, 2025
Gareth Sheridan, founder and CEO of US-based pharma company Nutriband, has said that the impact of the tariff announcement could mean that people won’t be able to afford the medication that they need.
“On the island of Ireland, we’re making medications such as chemotherapies, diabetes medications, heart disease medications, antibiotics. These are the types of things that can’t afford the global disruption,” he told RTÉ’s Drivetime.
Ultimately, if there is a disruption, people won’t have adequate access to the treatment.
“Even if there is less of a disruption, but the costs increase, we’re talking about chemotherapy patients facing a hike in the tens of thousands of dollars in most circumstances.”
Sheridan said he hopes it is possible that pharma companies will absorb the cost increase, “but I haven’t heard it really discussed with any sort of a realistic tone”.
Sheridan also told RTÉ’s Drivetime that the amount of red tape that would be involved in companies trying to move their manufacturing from Ireland to the US is “substantial”.
“This is not as simple as picking up your machinery, shipping it over to Michigan, opening a facility and pumping out chemotherapy drugs,” he said.
“We’re talking about feasibility work, we’re talking about equipment scale ups, manufacturing scale ups, registrations, new premises. We’re talking ultimately, another FDA approval, and then we need to supply a distribution chain that doesn’t currently exist.”
Sheridan said the “likely scenario” would be between four and eight years – potentially two US presidential terms – before this would become a reality.
“But even if this was to proceed as planned, and the pharmaceutical companies do decide to relocate certain production back to America, the time it would take that I just mentioned would mean that we’re facing disruption for many, many years
Ultimately, during the time of disruption, it’s going to be the patient that is affected the most.
If you want to know what Donald Trump is doing ahead of the announcement later, he’s shared his video montage on X in the last hour.
— Donald J. Trump (@realDonaldTrump) April 2, 2025
US tariffs will harm the US, EU & global economy.
— Olof Gill (@olofgill) April 2, 2025
That's why we want to avoid them.
That's why we're saying to the US:
There's a better way to do this. Let's sit down & discuss what that better way might look like.
So we can avoid this pain - for you, for us, for everyone. pic.twitter.com/87TqHsH31C
The EU will deliver a two-step response to Trump’s tariffs “at the appropriate moment”, according to European Commission spokesperson for economic security and trade Olof Gill.
He said there will be two responses – one to the steel and aluminium tariffs, which were announced in February, and one that will cover everything else.
Gill would not give any detailed analysis on the expected impact of the tariffs “because we still don’t know what the final announcement from Washington will be this evening”, telling journalists to “wait and see” when the response is announced.
He also said there are no plans for Trade Commissioner Maroš Šefčovič to travel to US at this point, but that the EU remains open to negotiations “that will allow us to avoid the inevitable pain on both sides of the Atlantic”.
On the possibility of 20% blanket tariffs being imposed by the US on all other countries, Gill said the EU will not talk about “hard numbers” but it’s preparing for everything.
“We believe these types of tariffs do no good to anyone… That’s why we want to avoid them.”
Amid the anticipation of the looming tariff announcement, another story has emerged from the Trump administration.
Politico is reporting that Donald Trump has told his inner circle that Elon Musk will be stepping back from his current role with the Department of Government Efficiency (DOGE) in the coming weeks.
It quotes three “Trump insiders” who wanted to remain anonymous, saying that while the US President remains pleased with the Tesla CEO thus far, “both men have decided in recent days that it will soon be time for Musk to return to his businesses and take on a supporting role”.
Tesla has taken a hit since Musk’s transition into US politics, with the electric car company reporting a 13% drop in its first quarter sales today.
Since Politico published its story this afternoon, shares in Tesla have jumped 3.8% – they had fallen more than 6% earlier today.
The British Chancellor Rachel Reeves has said that the UK will not “rush into action” over the impending US tariffs.
The UK’s Labour government is currently working to secure a new economic deal with the US which could ultimately help it avoid – or at least mitigate – the fresh raft of tariffs.
“The prize on offer is a good economic agreement between us and the United States, we won’t do anything to put that in jeopardy,” Reeves told a parliamentary committee today.
She said discussions are ongoing with other countries and the European Union over an “appropriate response,” noting that she had spoken with EU trade commissioner Valdis Dombrovskis.
She said the government wanted to avoid a tariff response that could amount to “posturing,” preferring instead to take a “clear headed” approach as it seeks to shore up the UK’s struggling economy.
As it stands, the US is the UK’s single largest country trading partner. Britain’s spending watchdog, the Office for Budget Responsibility, has estimated that US levies of up to 20% would reduce the UK’s GDP by 0.6% in the 2026-2027 fiscal year.
Sky News is reporting that Trump is set to announce different bands of tariffs depending on the country and the industry.
The specific band each country or industry is placed into will depend on how the White House “views each country’s barriers to entry for trade”, Sky News has said, quoting a source close to the White House.
The bands will reportedly be 10%, 15% and 20%.
Wall Street’s leading indexes opened lower, but climbed into positive territory during morning trading ahead of the tariff announcement.
The dollar was mostly lower, oil prices wobbled, while gold, viewed as a safe-haven investment, came close to achieving a fresh all-time high.
“For traders and investors, today represents a day of huge uncertainty as we weigh up the potential for retaliatory tariffs and a tit-for-tat trade war,” said Joshua Mahony, analyst at traders Scope Markets.
Here’s how the top three US stock market indexes are currently looking:
Tánaiste Simon Harris told tonight’s Fine Gael parliamentary party meeting that the Government would navigate the coming economic turbulence calmly and with a clear strategy ahead of the expected tariff announcement from US President Donald Trump this evening.
Harris said Fine Gael knows how to respond decisively when new challenges arise, and that Ireland is working closely with EU partners to respond to the US administration’s tariff announcement and will continue this work in the days ahead.
As well as bilateral talks with a number of his EU counterparts, the Tánaiste told the meeting that he is in ongoing contact with the EU Trade Commission Maroš Šefčovič.
Harris will chair the Government Trade Forum on Friday and will attend an EU Trade Ministers meeting in Luxembourg on Monday.
He said that Fine Gael’s priority in any crisis is to protect people, especially the most vulnerable and that the response to the tariff threat will focus on saving Irish jobs and maintaining vital public services.
He said the economy is only as strong as its people, adding that his party will work to shield workers, farmers and communities from the worst impacts, and ensure that nobody will be left behind.
According to CBS News, Trump is considering announcing the creation of what he calls the “External Revenue Service”.
He has previously described this hypothetical agency as an arm of government that would “collect tariffs, duties, and all revenue that come from foreign sources.”
Politico has reported Trump has told his inner circle that Elon Musk will be stepping back from his current role with the Department of Government Efficiency (DOGE) in the coming weeks.
However, the White House labelled those reports “garbage”.
Trump’s Press Secretary Karoline Leavitt said on X that Musk will leave when his “incredible work is complete”, although she didn’t specify a timeline.
This “scoop” is garbage.
— Karoline Leavitt (@PressSec) April 2, 2025
Elon Musk and President Trump have both *publicly* stated that Elon will depart from public service as a special government employee when his incredible work at DOGE is complete. https://t.co/Brppff6SKi
Musk is classified as a “special government employee”, which would limit his service to 130 days a year.
In a recent interview with Fox News, Musk said that he believes Doge “will have accomplished most of the work required” within that 130-day timeframe.
It is unclear which countries could be impacted by Trump’s tariffs which he will announced in under an hour, or what tariff rates they may pay.
It’s understood there will be different tariff bands depending on the country and the sector.
At her daily press conference, Mexican President Claudia Sheinbaum said Mexico will “announce a comprehensive program, not a tit-for-tat on tariffs.”
“Let’s see what announcement they make, but we have a plan to strengthen the economy under any circumstance,” Sheinbaum added.
It’s now less than half an hour before Trump is due to make his tariff announcement from the Rose Garden, and a brass band is said to be warming up ahead of “Liberation Day”.
Trump has invited steel and auto workers, as well as his cabinet and some members of Congress to the announcement.
Jamie Guidera, the Chief Operations Officer of the Research Ireland Centre for Pharmaceuticals, University of Limerick, said the tariff threat “raises serious concerns for the Irish and EU pharmaceutical landscape”.
“Our sector is built upon international collaboration, delivering open research and fostering trade, all of which are potentially jeopardised by these measures.
“It is imperative that governments and industry work together to mitigate any negative impacts on access to medicines and the competitiveness of Irish and US pharmaceutical research and manufacturing.”
We have our first glimpse of the White House’s Rose Garden ahead of Trump’s tariff announcement, courtesy of Sky News’s livestream.
Less than ten minutes to go now.
Senate Democratic leader Chuck Schumer has said that Donald Trump “will take a sledgehammer to the American economy and the American dream” with the flick of a pen with his tariff announcement.
Today, Donald Trump will take a sledgehammer to the American economy and the American dream.
— Chuck Schumer (@SenSchumer) April 2, 2025
With the flick of a pen, he’s set to unleash a reckless tsunami of tariffs
Prices will rise on medicines, cars, homes, appliances, metals, paper products, beer, lumber, fertilizer, and… pic.twitter.com/um4UKOwbjx
Taoiseach Micheál Martin repeated in his parliamentary party meeting this evening what he said earlier today – that “it will not be the status quo” after today.
He said the old order is changing and it is regrettable and we are in an era of increased protectionism. “That is not good for Ireland or for open economies,” said Martin.
The meeting was told by the Taoiseach that “uncertainty is the one certainty“.
He said “the whole system is working flat out to respond“, and that he senses that this is an issue will hang over us for some time and may have economic implications.
Health Secretary Robert F Kennedy Jr, Secretary of State Marco Rubio and House Speaker Mike Johnson are among those gathered in the Rose Garden ahead of the announcement.
Donald Trump is now speaking.
“My fellow Americans, this is Liberation Day,” he says.
He says it will be forever remembered as the day that America’s destiny was reclaimed and the day that we begin to make America wealthy again.
“Our country and its taxpayers have been ripped off for more than 50 years, but it is not going to happen anymore,” Trump says.
“In a few moments, I will sign an historic Executive Order instituting reciprocal tariffs on countries throughout the world.”
Trump says hard working American citizens were forced to sit on the sidelines for years as other nations got rich and powerful, “much of it at our expense”.
“But now it’s our turn to prosper, and in so doing, use trillions and trillions of dollars to reduce our taxes and pay down our national debt, and it’ll all happen very quickly.”
Trump says the tariffs will result in jobs and factories coming “roaring back into our country”, adding that it will “supercharge our domestic industrial base”.
“Ultimately, more production at home will mean stronger competition and lower prices for consumers.
“This will be, indeed, the golden age of America. It’s coming back and we’re going to come back very strong.”
Some screengrabs of the announcement – Trump has been introducing Vice President JD Vance and other members of the cabinet, who are in the front row at the event.
Trump says the United States slashed trade barriers on other countries for decades “while those nations placed massive tariffs on our products and created outrageous non-monetary barriers to decimate our industries”.
“In many cases, the non-monetary barriers were worse than the monetary ones,” he adds.
He says those countries “manipulated their currencies, subsidised their exports, stole our intellectual property, imposed exorbitant VAT taxes to disadvantage our products, adopted unfair rules and technical standards and created filthy pollution havens”.
“Effective at midnight, we will impose a 25% tariff on all foreign-made automobiles,” Trump says.
He announced these tariffs late last month.
Trump is now going through what he says other countries charge the US.
He says the European Union ”bans imports of most American poultry”.
“They say ‘we want to send you our cars. We want to send you everything, but we’re not going to take anything that you have’,” he says.
“Australia – and they’re wonderful people – but they ban American beef. Yet we imported $3 billion of Australian beef from them just last year alone. They won’t take any of our beef. They don’t want it because they don’t want it to affect their farmers.
“And you know what? I don’t blame them. But we’re doing the same thing right now, starting at midnight tonight.”
He is repeating much of what he said at the beginning of his speech.
“We’re going to start being smart and we’re going to start being very wealthy again. We’re going to be wealthy as a country because they’ve taken so much of our wealth away from us. We’re not going to let that happen,” he says.
“We truly can be very wealthy. We could be so much wealthier than any country, it’s not even believable.”
Trump says the United States “can no longer produce enough antibiotics to treat our sick”.
“We have a tremendous problem. We have to go to foreign countries to treat our sick. If anything ever happened, from a war standpoint, we wouldn’t be able to do it.” he says.
“We import virtually all of our computers, phones, televisions and electronics. We used to dominate the field, and now we import it all from different countries.
“A single shipyard in China now produces more ships every year than all of the American shipyards combined.”
Trump says “for nations that treat us badly, we will calculate the combined rate of all their tariffs, non monetary barriers and other forms of cheating”.
Here’s the clip of Trump confirming the details around tariffs on automobiles.
25% tariffs on auto imports will kick in at midnight, he told the event.
Trump is now holding a chart which has a list of countries and the tariffs the United States will be charging them.
He confirms the US will charge 20% tariffs on European Union imports.
“We’re charging them essentially half,” he says, saying the reciprocal tariff is 39%.
“They’re very tough, very, very tough traders. You think of European Union, very friendly. They rip us off. It’s so sad to see. It’s so pathetic.”
Here’s a screengrab of that giant chart Trump has been reading from…
The US dollar was falling sharply against key currencies this evening as Trump delivered his tariffs announcement.
The dollar had dropped about 0.7% against the pound, at 0.768, shortly after the speech began.
The US currency was weakening further against the euro, falling about 1%, at 0.9162.
Here’s a picture of the “Reciprocal Tariffs” chart.
Full table, as posted by @seanspicer pic.twitter.com/uA6jakk38I
— Gavan Reilly (@gavreilly) April 2, 2025
Trump says the tariffs will not be “fully reciprocal”, stating that the US will charge other countries “approximately half” of what they are charging the States.
“The tariffs will not be a full reciprocal. I could have done that, yes, but it would have been tough for a lot of countries. We didn’t want to do that,” he says.
Trump says that companies that build their products in the US will pay no tariffs.
“There is no tariff if you build your product in America,” he says, adding that they have seen companies “coming in like we’ve never seen before”.
“To all of the foreign presidents, prime ministers, kings, queens, ambassadors and everyone else who will soon be calling to ask for exemptions from these tariffs, I say: Terminate your own tariffs. Drop your barriers. Don’t manipulate your currencies… and start buying tens of billions of dollars of American goods.”
As Trump continues to speak from the Rose Garden, there is already some reaction coming in from here at home.
Ian Talbot, CEO of Chambers Ireland said the tariffs present immediate challenges but that it is essential Ireland and the EU respond with “calm and resolve”.
He said Ireland and the EU should prioritise strategies that enhance our competitiveness and strengthen our trade engagement, rather than escalating tensions.
He added that empowering businesses to sell goods and provide services in other markets remains critical to mitigating the impact of tariffs.
“We need to utilise the advantages of the Single Market and our access to the UK market while continuing to diversify into new international markets.
“With the right approach, this challenge can become a catalyst for progress.
“There are likely to be significantly different sectoral challenges arising from US policies and potential responses over the next few weeks.”
Talbot also called on the Government to pursue an “urgent, relentless focus on the delivery of vital infrastructure”.
“Delivering on what we can control has never been more vital,” he added.
Trump says that cars built in America will have an interest rate deduction.
“If you buy a car, if it’s built in America, then you get an interest rate deduction,” he says.
“And that’s a big thing. It’s going to be a big thing, I think that’s going to pay for itself very quickly, that deduction. We’ve never had anything like that before.”
In case you missed it, here are some of the tariffs that Trump will impose around the world, according to his chart:
After nearly an hour, Trump finishes his speech by declaring: “We’re going to have a very free and beautiful nation.
“This has turned out to be one of the most important days in the history of our country. God bless you and God bless America.”
White House officials have said that Trump’s sweeping new tariffs on US trading partners will begin this weekend, with a higher rate on “worst offenders” to take effect next week.
Declaring that a “national emergency” stemmed from security concerns due to persistent trade deficits, the White House told reporters that a “baseline” 10% would start on 5 April at midnight (5am Irish time).
Higher rates on various partners will begin from the same time on 9 April.
Sinn Féin leader Mary Lou McDonald has been reacting to the tariff announcement on social media.
My priority is to defend Irish national interests. That means safeguarding jobs, helping Irish businesses to grow in global markets and ensuring the all Ireland economy continues to grow at pace.
— Mary Lou McDonald (@MaryLouMcDonald) April 2, 2025
The government needs to do better at what is within their control - supporting…
The Irish Business and Employers Confederation (Ibec) has said it is “deeply disappointed” by the 20% tariffs imposed on EU exports, “particularly given the impact it will have on transatlantic trade and consumers”.
“We now urge the Irish Government and the European Commission, to act with urgency to find a negotiated solution with the US administration,” CEO Danny McCoy said.
“Government must also work with business to assess the potential consequences for the Irish economy resulting from the imposition of US tariffs and the likely EU response to these tariffs.
“The Government must advocate for a proportionate and measured EU response, informed by a detailed analysis of supply chains, strategic considerations, and the broader implications of any retaliatory measures.”
McCoy said Ibec anticipates the new tariffs will result in a net overall export impact of around 2–3% in the short-term. “Thankfully, we are in a position of economic strength, which will provide the necessary cushion to absorb slower growth and invest in diversifying market opportunities”, he said.
“The most important domestic response is to support enterprises most affected by the tariffs. This should include time-bound short-time working supports to help keep employees connected to businesses experiencing demand shocks, as well as other measures to enhance productivity and access to new markets.”
He said Ireland has played “a crucial role” in providing substance and strategic positioning for US firms accessing the European single market and global markets. “Our strong track record of delivery has not only benefited our own economy but has also contributed to the success of US firms and their shareholders.”
He also said that now is also the time to accelerate national and EU-level measures that enhance overall business competitiveness.
“Addressing business costs, reducing regulatory burdens, improving infrastructure delivery, and investing in skills, AI, and innovation will be critical in strengthening productivity and resilience in the face of this international disruption.”
Here’s Trump after signing his executive order on tariffs.
Irish economist David McWilliams has given his hot take on the tariff announcement: be grand sure.
It'll be grand. Could've been much worse. Ok now off to do a podcast more details in the morning.
— David McWilliams (@davidmcw) April 2, 2025
He's now on about his love for the world "groceries" ....."beautiful word, old word"!!
Here’s the famous chart in full.
LIBERATION DAY RECIPROCAL TARIFFS 🇺🇸 pic.twitter.com/ODckbUWKvO
— The White House (@WhiteHouse) April 2, 2025
"Make no mistake, this is very damaging, particularly for Ireland."
— TonightVMTV (@TonightVMTV) April 2, 2025
Minister of State for European Affairs, Thomas Byrne TD, gives his immediate reaction to Donald Trump's tariffs on the EU.#TonightVMTV pic.twitter.com/sD5LjnV9KL
Minister of State for European Affairs Thomas Byrne has been speaking on Virgin Media’s The Tonight Show in the last while.
He said it’s “very hard” to mitigate against a 20% tariff.
“Our economy for a large part works on selling to the rest of the world. We don’t have enough people here to sell to all the products that we make, so we need to sell to the rest of the world. The European Union, obviously, is a bedrock of that exporting policy,” he said.
“The companies that are affected by tariffs in particular, still have to sell into the European Union, and we’re a really good base for that.”
Byrne says the European response will be decided “over the next short period of time”.
“We need time to reflect, and we need time to talk to our European partners, but also for the Commission to discuss these things with the United States.”
Taoiseach Micheál Martin has said he “deeply regrets” the US decision to impose 20% tariffs on EU imports.
“We see no justification for this. More than €4.2 billion worth of goods and services are traded between the EU and the US daily,” he said in a statement.
Disrupting this deeply integrated relationship benefits no one. Tariffs drive inflation, hurt people on both sides of the Atlantic, and put jobs at risk.
Martin said Ireland will now reflect with the EU on how best to proceed.
“As I agreed with President von der Leyen in our recent phone call, EU unity is crucial, and our response should be considered and measured. Any action should be proportionate, aimed at defending the interests of our businesses, workers and citizens.
He said that now is a time for dialogue and that he believes that a negotiated way forward is the only sensible one.
“A confrontation is in no one’s interests. Ireland will be a strong advocate for an outcome which enhances the existing and strong transatlantic trading relationship.
“As a small, open economy, and as a country that has built our prosperity on a policy of free and fair trade, there is no doubt that the imposition of tariffs by the US will have an adverse impact.”
Continuing, he said Ireland’s priority is “the protection of jobs and our economy”.
“We are starting from a position of strength, and our economy is resilient. It is important that we focus on factors that we can control, including improving our competitiveness and investing in infrastructure.
“By working with Irish-owned companies, multinationals, our EU partners and bilaterally with the US, we can and will weather this storm.”
Tánaiste Simon Harris has also released a statement in the last few moments.
The Minister for Foreign Affairs and Trade repeats the Taoiseach’s position, saying he “deeply regrets” the tariffs announced
“As I have been saying for some time, there are no winners when it comes to tariffs – they are bad for consumers, put jobs at risk, and drive up costs and uncertainty for business.”
Harris said the Government has been “actively preparing for this possibility for some time”.
“As we have been doing all along, we will seek to control what we can control and influence what we can influence while drawing on unity with our EU partners as our greatest strength.
“Together with my government colleagues, my officials and the EU we will be reviewing the situation and the best way to respond in the coming hours and days. The EU will have to respond in a proportionate manner which protects our citizens, our workers and our businesses.”
The EU and Ireland stands ready to find a negotiated solution with the US. Negotiation and dialogue is always the best way forward.
Harris said he must be “honest” that a 20% blanket tariff on goods from all EU countries “could have a significant effect on Irish investment and the wider economy and the impact of what has been announced is likely to be felt for some time”.
“It represents a huge challenge to Irish exporters to the US across all sectors. Work is already underway to mitigate this and we are already taking concrete steps to boost our domestic competitiveness and investing in our infrastructure.”
Simon Harris said the Government is accelerating preparations for an Action Plan on Competitiveness and Productivity, which will focus on domestic policy measures “which can make the Irish economy more competitive and resilient to economic shocks”.
“Our relationship with the United States is long, deep and meaningful and I want to be clear that it will endure far beyond any difficulties we may encounter in the time ahead.
“We will continue to emphasise the fact that the US-EU relationship is a two-way street. Our economies are interdependent and an extended trade dispute is in no one’s interest. We will continue to seek to engage with the US administration in a constructive way.”
Harris said he will attend a meeting of Foreign Affairs Council on Trade in Luxembourg next Monday, “where I will be discussing today’s developments and our collective response with my EU counterparts and Commissioner Šefčovič”.
He is also set to hold a meeting of the Trade Forum on Friday, where he will engage with business representatives in response to the tariff announcement.
“We must remain calm and measured in our response. Ultimately every disagreement has to end in agreement and we will be continuing to advocate and argue for negotiated solutions,” he said.
“This is how we will end this dispute and this will be my focus along with that of my colleagues in the time ahead.”
Reuters is reporting more details from a White House official.
The news agency is reporting that Trump plans other sectoral tariffs for semiconductors, pharmaceuticals and possibly critical minerals will not be covered by the newly announced tariffs.
If you’re just tuning in to our coverage, you might be wondering why Trump has just slapped 20% tariffs on all EU goods.
My colleagues Lauren Boland and Diarmuid Pepper have put together an explainer on the matter.
You can read it here.
Australia is one of the countries subjected to the 10% “reciprocal” tariff.
Prime Minister Anthony Albanese said: “A reciprocal tariff would be zero, not 10%. The administration’s tariffs have no basis in logic, and they go against the basis of our two nations’ partnership.”
To help soften the blow, the Australian leader pledged to establish a new economic resilience programme that will provide $1 billion in interest-free loans to help companies capitalise on new export opportunities.
“We cannot control what challenges we face but we can determine how we respond,” said Albanese.
One senior MEP said earlier tonight that “economic pain” needs to be the result for the US in response to tonight’s announcement, with American tech companies singled out as one option for Europe’s response.
The chair of European Parliament’s internal market and consumer protection committee Anna Cavazzini said a tax placed on tech companies would give the EU “leverage” in negotiations with the White House.
“I think it’s really important to cause economic pain to the US in order to force Trump to change his course,” Cavazzini told Channel 4 News.
The German MEP added that she believes the EU needs to “make it possible to target really Trump’s voter bases or companies that are supporting Trump and make it very costly for him to continue with this course”.
With this, she hopes the EU can get Trump “back to the negotiating table” and remove the tariffs.
A special edition of Prime Time has just started on RTÉ One – jarringly (but, I suppose, fittingly) the bed track for their first report on the tariffs is an instrumental version of Billy Joel’s 80s classic ‘We Didn’t Start the Fire’.
The White House confirms that pharmaceutical products will not be subject to the tariffs just announced by Donald Trump this evening.
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