SIPTU has called on the Government to establish a taskforce to plan for the State’s response to the trade tariffs which have been threatened by the US President Donald Trump.
The proposed task force would involve trade unions, employers groups and the relevant Government Departments and agencies, in advance of “expected negative developments.”
SIPTU Deputy General Secretary, Greg Ennis, said: “Donald Trump’s election in the US is a real cause of concern for private sector workers, as Ireland exported over €72 billion, which equates to 32% of all Irish made goods produced, to the US - compared to €20 billion imported from the US in 2024. Threatened EU tariffs by Trump, if imposed, could jeopardise many of the 210,000 workers employed in Ireland by US firms.
“While Irish firms employ approximately 100,000 in the US, we continue to have a significant dependency on US driven corporation tax, which, excluding the Apple case payment, equated to €28 billon last year.”
“While companies may not easily relocate to the US because of what could prove to be a temporary tariff application, it will stymie future investment and growth. In fact, the ESRI late last week advised that the trade volatility caused by the Trump administration could see the prospect of a 3% fall in employment in the Republic over the next seven years equivalent to 80,000 jobs and a decline of €18 billion in trade.”
“A trade war is in no one’s interest and I have concerns about the future stability of pharmaceutical companies who use Ireland as a base to sell medicines and drugs to the US. Out of Ireland’s €72 billion total exports to the US, drugs and medicine make up €58 billion of that figure.”
Mr Ennis added: “The Government must bring together all stakeholders, including worker representatives to discuss and agree a suite of measures. These must include necessary supports for workers, should Trump proceed to roll out tariffs on Irish made goods which are exported to the US.”
Meanwhile, Gareth Sheridan, CEO of Irish pharmaceutical company Nutriband, which makes skin patches to prevent the abuse and misuse of drugs such as Fentanyl, said that Trump’s tariff plans will have a severe human cost.
Shares in Nutriband had risen 40% at the start of the year, but fell by 6% this week following the US President's announcement.
The tariffs are set to be imposed on April 2nd, causing great concern for the industry in Ireland.
Mr Sheridan said it will be even more damaging in the US:
“Tariffs on cars; tariffs on parts; tariffs on mechanical goods - all of these things don’t have as much of a detrimental impact on people’s lives and survival rates as medications.
"I think it’s quite a dangerous precedent to even set that tariffs are even a discussion when it comes to prescription medications, and there’s a reason why they haven’t for over 30 years now,” the Nutriband CEO said.
