US President Donald Trump has teased that tariffs of up to 200% on drug imports could take effect "very soon," which could have a huge impact on Ireland's massive US drug market.
“If they have to bring the pharmaceuticals into the country, the drugs and other things into the country, they’re going to be tariffed at a very, very high rate, like 200%,” Trump said during a Cabinet meeting, according to The Hill.
“We’re going to give people about a year, year and a half, to come in, and after that, they’re going to be tariffed,” Trump said.
“We’ll give them a certain period of time to get their act together.”
Ireland has emerged as a global pharmaceutical hub, exporting €10.45 billion in February 2025 alone and nearly €20 billion in the first two months of the year, up over 450% year-on-year.
These exports encompass a mix of patented medicines, generic drugs, APIs, and vaccine ingredients, with recent surges also tied to weight‑loss treatments. Some of the larger companies include AbbVie, Pfizer, Johnson & Johnson, and Eli Lilly.
Pharma exports from Ireland to the US multiplied in February and March as firms rushed to avoid Donald Trump’s huge tariffs.
Figures from Ireland's Central Statistics Office (CSO) show Ireland exported €44.4 billion worth of medicinal and pharmaceutical products to the US last year.
Trump has name-checked Ireland at least twice publicly while threatening higher tariffs on pharmaceutical imports.
Meanwhile, the 200% tariff threat comes this week after the US announced a three-week extension from the July 9 deadline for trade talks with the EU.
On April 2, Trump announced sweeping tariffs on foreign imports - including 20% tariffs on the European Union, which includes Ireland - in what he described as "Liberation Day" for the US.
Pharmaceuticals are not included in the 'Liberation Day' tariffs.
However, a week later, on the day the sweeping tariffs were due to come into effect, Trump announced a 90-day pause.
On May 29, the US Court of International Trade ruled that Trump overstepped his authority with his sweeping tariffs. The US Department of Justice has filed an appeal.
Ireland's Tánaiste and Minister for Foreign Affairs and Trade Simon Harris continues to call for dialogue.
Responding to the latest deadline extension, the Tanaiste said potential tarifs on Irish exports of pharmaceuticals is "obviously an area of significant concern to Ireland."
He added: "However, my hope is that in the coming days and weeks both sides can work intensively and constructively to bring about an agreement."
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