August 01, 2025 / What we now know
Last night's Executive Order provides some clarity to help firms engage in ongoing trade, but it leaves many questions unanswered. Ultimately, we will only gain further clarity when we see the EU US joint statement, the application of any zero for zero agreements that result from it, and the outcome of the ongoing Section 232 investigations, which affect products accounting for 74% of Ireland US trade.
Read the full updateWebinar / US and EU Trade Agreement
Today’s trade agreement between the US and EU brings an end to a significant amount of uncertainty for some businesses. However, a 15% tariff still represents a substantial burden for many industries. Sectors which rely heavily on the US market and operate within small margins, will once again be significantly impacted by an additional 5% tariff, on top of what they have already had to absorb over the past several months and well in excess of the 1% effective tariff which existed before April.
Our message to the Government, as it was with the 10% tariff, is that the most exposed sectors will require support similar to the interventions provided as a response to Brexit.
It is important to note that the details are still emerging and will only be worked out as today’s framework is fleshed out. These details will be critically important for Ireland. Pharmaceuticals and Semiconductors which equate to 75% of Ireland-US trade are, we understand, included in the 15% deal. However, there is still a question around the stability of that rate over both the short and long-term in the face of ongoing Section 232 investigations.
— Danny McCoy, Ibec CEO
Click below to access Ibec's latest preliminary analysis and access a members-only webinar.
Listen / Timely analysis from our experts
Reaction: Trump administration announces tariffs
Fergal O’Brien and Gerard Brady give their reaction to the U.S administration's tariff announcement and discuss the impact this will have on Irish business.
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Ibec's policy executives work across the political and administrative spectrum to ensure that the issues and concerns of employers and business, are effectively communicated to relevant people. We use our unmatched knowledge and influence to lobby and advocate on behalf of our members. The team are happy to provide briefings on key policy areas.
Executive Director, Lobbying & Influence
Chief Economist
Director of EU & International Affairs
Head of Infrastructure & Environmental Sustainability
Executive Director, Employer Relations
Head of Regional Policy
Head of Skills & Social Policy
Director, Drinks Ireland
Director, Financial Services Ireland
Director BPCI
Director, Food Drink Ireland
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Disclaimer
The information provided on this website is for general informational purposes only and does not constitute official guidance or legal advice. Ibec is not responsible for issuing formal guidance on U.S. tariffs or trade-related matters. The FAQs and related content will be updated regularly as the situation evolves and new information becomes available. For specific advice or compliance support, please consult your company’s legal representatives and relevant national authorities.