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The Telegraph
The Telegraph
8 Apr 2025
James Crisp


Why Ireland has the most to fear from Trump’s trade war

No other country in the EU fears Donald Trump’s tariffs and the consequences of his global trade war more than Ireland.

Officials in Dublin face a perfect storm of threats to the economy and employment in a country that is particularly exposed to headwinds from Washington.

Ireland depends on the US for goods and services, with exports and tech making up a fifth of its GDP.

About 11 per cent of Irish workers are employed by mostly US-owned multinationals in the pharmaceutical and technology sectors, which were attracted by the low corporate tax rate.

In recent years Ireland has successfully navigated the choppy waters of the financial crisis, its bailout, Brexit and the Covid pandemic.

It has emerged with a record budget surplus and the healthiest public finances in Europe.