Enterprise Ireland welcomes clarity for Irish exporters on the EU-US Trade Agreement, but highlights the increased cost of doing business in the US as a challenge for Irish exporters 

Enterprise Ireland urges Irish exporters to take action to mitigate the impact of tariffs and take up Enterprise Ireland’s supports 

Enterprise Ireland welcomes the clarity and certainty provided for Irish exporters with the confirmation of a 15% US tariff rate on EU goods exported to the US, as part of the EU-US trade agreement announced yesterday.  

While this clarity is welcome, bringing stability and predictability to EU trade with the US, the introduction of these tariffs presents notable challenges for Irish product-based businesses exporting to the US market, increasing their cost of doing business with the US.  

Of the 950 Enterprise Ireland client companies that currently export to the US, Enterprise Ireland’s analysis indicates that approximately 450 of those companies that export goods will be most impacted by the new 15% US tariff rate on EU goods. The new tariff will impact these companies to varying degrees depending on the level and nature of their US exports.   

These client companies, primarily in the Food & Beverage, Engineering, Lifesciences, and Consumer Products sectors, account for €3.8bn in goods exports to the US. Total Enterprise Ireland client company exports to the US in 2024 were €6.6bn while clients’ total exports in 2024 were €36.75bn.   

Leading Enterprise Ireland’s response to the new EU-US tariff rate, Jenny Melia, CEO of Enterprise Ireland said; “The US is and will continue to be an important primary export market for Irish exporters.  While we welcome the clarity on the EU-US tariff agreement, the 15% tariff rate will be a particular challenge for a significant number of Enterprise Ireland product-based client companies exporting to the US, with impacts varying by sector and scale.  Over the coming period, as further details emerge on the agreement, Enterprise Ireland will continue to undertake detailed analysis of the tariffs and their impact on different sectors. 

“Enterprise Ireland put in place a Tariffs Response Team to lead on the measures that will be needed to support Irish exporters to adopt a strategic approach to consolidate and grow their business in the US, while also pursuing diversification in markets, products, and customer bases to enhance resilience and sustain long-term growth. These measures aim to safeguard profitability and protect jobs, against the cost pressures introduced by the tariffs. 

“Irish exporters are a vital pillar of the Irish economy, and Enterprise Ireland supported by the Irish government, is steadfast in its commitment to supporting these exporters through this challenging period, helping them adapt strategically and maintain competitiveness.”

Impacted Enterprise Ireland client companies should get in contact with their dedicated Client Adviser Connect with us | Enterprise Ireland 

Enterprise Ireland clients maintain substantial investments and operations in the US and will be supported by our teams in Ireland and across our seven US offices to consolidate and grow their business in the US market, while also growing in other markets, including the UK, Europe and further afield.  

Supporting Irish exporters, that are directly or indirectly impacted by the new US tariff rate, Enterprise Ireland offers a range of supports, including enhanced market supports, which will be introduced:  

• Enhanced Market Research Grant - Funding of up to €35,000 for companies to conduct market research to assess the full impact of tariffs and other trade measures, and to develop mitigation strategies. 
• Enhanced Market Discovery Fund - Funding of up to €150,000 for companies developing new market entry strategies or bringing a new product to an existing market. 

Enterprise Ireland provides a full range of supports and information events for client companies to improve competitiveness and support diversification to other markets. For more information on the supports available from Enterprise Ireland, visit Trade Tariffs | Enterprise Ireland or email exporttariffs@enterprise-ireland.com   

For businesses who aren’t direct clients of Enterprise Ireland, they should contact the  National Enterprise Hub | Enterprise Ireland (NEH.gov.ie). Local Enterprise Office clients should get in touch with their Local Enterprise Office. Local Enterprise Office

In 2024, Enterprise Ireland-supported companies achieved exports of €6.6 billion to the USA, up 8% on 2023. The USA is the third largest export territory for Enterprise Ireland clients, after Europe (€10.63bn exports) and the UK (€10.52bn exports). Client exports to the USA, equate to 18% of total exports.   

Exports to Europe in 2024, grew by 8% to €10.63bn representing 29% of total exports. This is the first time that exports to this region have surpassed the UK, making Europe now the largest export territory for Enterprise Ireland’s client base.  

The UK, now the second largest export territory for clients achieved €10.52bn exports in 2024, up 4% on 2023 and surpassing the €10bn mark for the first time.   

ENDS  

For reference, please contact: 

Marika MacCarvill, Communications Manager, Ireland & International, Enterprise Ireland 

marika.maccarvill@enterprise-ireland.com / 00 353 86 171 2568 

Enterprise Ireland Press Office press@enterprise-ireland.com 

Ends