Ireland believes that the pharmaceutical sector should be included in ongoing EU-US tariff negotiations. US President Donald Trump has threatened to impose a 30% tariff on European goods, which raises concerns in Ireland. The Tánaiste highlighted the importance of the integrated supply chain between EU and US pharma industries for economic security. He argued that US pharmaceutical companies are attracted to Ireland for reasons beyond tax, citing access to skilled labor and the larger EU market. The primary focus should be on avoiding harmful tariff escalations that could affect both regions.
Ireland's position is that the treatment of pharma should be within negotiations with the EU on an agreement in principle, and this sector is crucial for the economy.
US pharmaceutical companies are in Ireland not just for tax treatment; they access a skilled labor market and the EU market of over 450 million people.
The focus must be on avoiding an escalatory higher tariff outcome that would be deeply detrimental to both the EU and the US.
The integrated supply chain in pharma products between the EU and the US supports transatlantic economic security, rather than threatening it.
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