Back to news
Big pharma not subject to US tariffs for now, but there's worry we're not out of the woods
@Source: thejournal.ie
Advertisement
We need your help now
Support from readers like you keeps The Journal open.
You are visiting us because we have something you value. Independent, unbiased news that tells the truth. Advertising revenue goes some way to support our mission, but this year it has not been enough.
If you've seen value in our reporting, please contribute what you can, so we can continue to produce accurate and meaningful journalism. For everyone who needs it.
One-off amount
I already contribute
Sign in. It’s quick, free and it’s up to you.
An account is an optional way to support the work we do. Find out more.
Investigates
Investigates
Money Diaries
Daft.ie Property Magazine
Allianz Home Magazine
The 42 Sports Magazine
The Journal TV
Climate Crisis
Cost of Living
Road Safety
Newsletters
Temperature Check
Inside the Newsroom
The Journal Investigates
The Explainer
A deep dive into one big news story
Sport meets news, current affairs, society & pop culture
have your say
Or create a free account to join the discussion
Advertisement
More Stories
Alamy Stock Photo
Big pharma not subject to US tariffs for now, but there's worry we're not out of the woods
Pharmaceutical products are exempt from the 20% tariff, for now.
6.31am, 3 Apr 2025
Share options
THERE WAS A sigh of relief among some in government last night when it became clear that the US tariff rate on EU products of 20% has not been extended to pharmaceutical products.
Sources told The Journal that there was a cautious welcome from those in government, but fear remains that tariffs could be levied on the sector in the near future.
Taoiseach Micheál Martin said that the imposition of 20% tariffs on exports from the EU “is bad for the world economy”. Around €4.2 billion worth of goods and services are traded between the EU and the US daily will be impacted, he said.
Much of the discussion in the last couple of days centred around Ireland’s pharmaceutical industry.
It is something US President Donald Trump even mentioned in the Oval Office last month when the Taoiseach was sitting next to him.
Advertisement
Pharmaceuticals account for about 60% of all of Ireland’s exports to the US, so the fact that it was announced that they are not subject to tariffs for now is to be welcomed.
Aidan Meagher, Co-Head of Geopolitical Strategy at EY Ireland said last night that while Trump’s announcement marks a definite shift in the era of open trade, it is positive for Ireland and many businesses based here that pharmaceuticals and semiconductors will not be immediately be subject to the reciprocal tariffs.
Pharma used as pawn in negotiations
However, there are still concerns that big pharma could be targeted by Trump in the coming weeks, with one source stating that they don’t believe Ireland is out of woods yet.
They highlighted that Trump specifically mentioned Johnson & Johnson and Eli Lilly, two companies that have a base here, but that have invested in US recently.
This source also raised concerns that Trump could hold the threat of tariffs on pharma over the EU to try and get deals on tariffs more generally.
Trump has previously threatened pharma-specific tariffs which could yet be imposed, they warned.
It is the government’s believe that the real work starts now within the EU where decisions will need to be made on how best to respond.
Related Reads
As it happened: Trump hits EU goods with 20% tariff and rails against foreigners 'pillaging' US
Explainer: What is a tariff and why has Trump just slapped a 20% one on EU goods?
Taoiseach says 'no justification' in Trump's tariffs as he insists Ireland will 'weather this storm'
The Taoiseach and Tánaiste have both said this week that it is vital that Europe shows solidarity. There are concerns that with car tariffs hurting the main European players like Germany, that it could prove more difficult to convince the bloc to stick together overall when it comes to any reciprocal tariffs.
Bernd Lange, Chairman of the European Parliament’s International Trade Committee, said yesterday evening that the EU will respond with proportionate and decisive measures.
“We are not backing down. We will defend our sovereignty and we will not change legislation that we have shaped democratically and in the interest of EU citizens, even if this displeases some US billionaires. The countries that have been targeted by these measures must respond with a united front and send a clear message to the US to end this tariff madness,” he said.
“I do hope this administration is genuinely interested in engaging with the EU, but I am not confident. I hope that our arguments and the firmness of our response will provide sufficient incentives to bring the US to the negotiating table. The EU’s door will always remain open to finding a solution,” said Lange.
Readers like you are keeping these stories free for everyone...
A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article.
Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation.
Support The Journal
Christina Finn
Send Tip or Correction
Embed this post
To embed this post, copy the code below on your site
Email “Big pharma not subject to US tariffs for now, but there's worry we're not out of the woods”.
Recipient's Email
Feedback on “Big pharma not subject to US tariffs for now, but there's worry we're not out of the woods”.
Your Feedback
Your Email (optional)
Report a Comment
Please select the reason for reporting this comment.
Please give full details of the problem with the comment...
Donald Trump
Pharmaceuticals
News in 60 seconds
Trump Tariffs
Explainer: What is a tariff and why has Trump just slapped a 20% one on EU goods?
InvestigatesBirth Choice
Labour room built for less medicalised births cost €100,000 but rarely used
Adriana Casserly
election pledges
'Won't happen overnight': Foley says introducing €200 monthly childcare will be 'long journey'
Jane Matthews
Liverpool's march towards Premier League title continues with win over Everton
Trump hits EU goods with 20% tariff and rails against foreigners 'pillaging' US
tariff time
Taoiseach says 'no justification' in Trump's tariffs as he insists Ireland will 'weather this storm'
Here's What Happened Today: Wednesday
Trump hits EU goods with 20% tariff and rails against foreigners 'pillaging' US
'An uber-creative firecracker': Tributes as film star Val Kilmer dies aged 65
Trump Tariffs
Explainer: What is a tariff and why has Trump just slapped a 20% one on EU goods?
Donald Trump reportedly planning on removing Elon Musk from inner circle as rift emerges
more from us
Investigates
Daft.ie Property Magazine
Allianz Home Magazine
The 42 Sports Magazine
Money Diaries
The Journal TV
Journal Media
Advertise With Us
About FactCheck
Our Network
FactCheck Knowledge Bank
Terms & Legal Notices
Terms of Use
Cookies & Privacy
Advertising
Competition
more from us
TV Listings
GAA Fixtures
The Video Review
Journal Media
Advertise With Us
Our Network
The Journal
FactCheck Knowledge Bank
Terms & Legal Notices
Terms of Use
Cookies & Privacy
Advertising
Competition
© 2025 Journal Media Ltd
Terms of Use
Cookies & Privacy
Advertising
Competition
Switch to Desktop
Switch to Mobile
The Journal supports the work of the Press Council of Ireland and the Office of the Press Ombudsman, and our staff operate within the Code of Practice. You can obtain a copy of the Code, or contact the Council, at https://www.presscouncil.ie, PH: (01) 6489130, Lo-Call 1800 208 080 or email: mailto:info@presscouncil.ie
Report an error, omission or problem:
Your Email (optional)
Create Email Alert
Create an email alert based on the current article
Email Address
One email every morning
As soon as new articles come online
Related News
16 Mar, 2025
Austin FC vs. LAFC MLS Highlights | FOX . . .
16 Mar, 2025
Taylor Made M1 3 Wood
28 Mar, 2025
East Belfast PSNI issue appeal after ser . . .
21 Feb, 2025
Pakistan Railways 65th Inter-Divisional . . .
21 Mar, 2025
Kendrick Lamar's Potential Next Move Wil . . .
27 Mar, 2025
Today's Wordle answer for Thursday, Marc . . .
18 Mar, 2025
‘Need Order In The World’: S . . .
11 Mar, 2025
All England Open: Sindhu, Satwiksairaj-C . . .