US tariffs and Ireland: what the EU-US deal set and what has changed since

The facts on US tariffs on EU goods, how medicines are treated, what has happened to Irish exports to the US, and what supports the Government offers.

Irish goods exports to the US were €31.3 billion in the first seven months of 2026. That is 61% less than in the same months of 2025, when sales to the US were unusually high.

This guide sets out what the EU and US agreed, what changed in 2026, and what it means for Irish firms and jobs. It uses only official EU, Government and CSO sources.

What the EU-US deal set in 2025

The European Commission and the US President agreed a deal on 27 July 2025. It was set out in a joint statement on 21 August 2025.

The "normal US rate" is the most favoured nation (MFN) tariff: the standard rate the US charges most countries. A tariff is a tax charged on goods when they enter a country.

In return, the EU said it would remove tariffs on all US industrial goods. It also said it expected to buy $750 billion of US energy by 2028, and that European firms would invest $600 billion more in the US.

What changed in 2026

On 20 February 2026, the US President announced a temporary import surcharge under a US trade law called Section 122. EU law records that EU goods had the benefit of the 15% ceiling until 24 February 2026.

The EU went ahead with its side of the deal. From 1 July 2026, it removed duties on US industrial goods. That law runs until 31 December 2029.

• The EU can suspend its tariff cuts if the US fails to carry out the joint statement
• That includes how EU goods are treated when the US surcharge ends or is replaced
• If the US still charges over 15% on goods made from EU steel and aluminium on 31 December 2026, the EU can suspend its cuts on some steel and aluminium goods
• On 31 July 2026, the EU kept its €93 billion of counter-tariffs on hold, with no end date

We could not find an official EU or Government page setting out the exact US tariff on each EU product in October 2026. Firms should check the European Commission's US trade page before shipping.

Irish exports to the US: the 2025 surge

The US is Ireland's biggest customer for goods. In 2025, exports to the US rose 52% to €111.7 billion. That was 42.9% of all Irish goods exports.

The Department of Finance says medicine exports were front-loaded in early 2025. In plain terms, they were sent sooner than usual. That makes the 2026 figures look weak by comparison.

“As a small open economy, Ireland is extremely vulnerable to shifts in the terms and patterns of global trade.”— Simon Harris, Tánaiste and Minister for Finance, Budget 2027 statement, 6 October 2026

Exports to the US in 2026, month by month

In July 2026, exports to the US were €5.0 billion, up 16% on July 2025. So month to month, sales are holding up. The fall is in the year-to-date total, because early 2025 was so high.

Medicine exports to all countries fell by about half over the same period, from €93.2 billion to €45.6 billion. The Department of Finance says sales of GLP-1 drugs, for diabetes and weight loss, almost made up for the drop in April to June.

Government supports for exporters

In April 2025, the Department of Enterprise, Tourism and Employment set out help for firms selling to the US. Enterprise Ireland set up a team to advise small firms on tariffs and new markets.

• One-to-one advice from Enterprise Ireland: over 300 US-exporting firms met by April 2025
• A strategic consultancy grant to pay for expert advice
• The Market Discovery Fund, to research new markets
• A programme of trade missions abroad
• The Growth and Sustainability Loan Scheme: loans of €25,000 to €3 million, now €1 billion and open until 30 June 2029

Budget 2027 did not announce a separate tariff fund. For grants open to all small firms, see our small business grants guide.

What it means for jobs

Firms supported by IDA Ireland, Enterprise Ireland and Údarás na Gaeltachta employed a record 554,608 people in 2025. That is about 1 in 5 jobs in Ireland, and 7,636 more than in 2024.

The Department expects 2.84 million people in work in 2026. It says risks to its forecasts lean to the downside and mostly come from abroad. It names energy prices and a possible fall in share prices linked to artificial intelligence.