U.S. President Donald Trump has announced plans to introduce tariffs on pharmaceuticals, directly citing Ireland as one of the countries targeted in a move aimed at reshoring America’s drug production industry.
Speaking from the Oval Office last night, President Trump claimed that the United States "does not make anything" in terms of pharmaceuticals anymore, pointing to countries like China and Ireland as major producers of American drugs.
“Ireland was very smart. We love Ireland. But we’re going to have that,” he said, suggesting that tariffs would help bring pharmaceutical manufacturing back to U.S. soil.
The remarks follow his earlier accusations during a St. Patrick’s Day meeting with Taoiseach Micheál Martin, where Trump claimed that Ireland had “taken” the U.S. pharmaceutical industry through attractive corporate tax policies.
“All of a sudden Ireland has our pharmaceutical companies, this beautiful island of five million people has got the entire U.S. pharmaceutical industry in its grasps,” he said. “We don’t want to hurt Ireland, but we do want fairness.”
Further stirring tensions, U.S. Commerce Secretary Howard Lutnick described Ireland as his favourite “tax scam” during a recent appearance on the All-In podcast, accusing the country of hoarding U.S. multinational pharmaceutical and tech intellectual property (IP) rights.
Trump also warned of broader trade action, threatening larger tariffs on both the European Union and Canada if they “work together to do economic harm to the USA.”
The proposed pharmaceutical tariffs could have significant implications for Ireland’s economy, where the pharma sector accounts for a major portion of exports and foreign investment, particularly from U.S.-based multinationals.
Dublin has yet to officially respond to the latest remarks, but the comments are expected to dominate upcoming transatlantic trade discussions.
Speaking from the Oval Office last night, President Trump claimed that the United States "does not make anything" in terms of pharmaceuticals anymore, pointing to countries like China and Ireland as major producers of American drugs.
“Ireland was very smart. We love Ireland. But we’re going to have that,” he said, suggesting that tariffs would help bring pharmaceutical manufacturing back to U.S. soil.
The remarks follow his earlier accusations during a St. Patrick’s Day meeting with Taoiseach Micheál Martin, where Trump claimed that Ireland had “taken” the U.S. pharmaceutical industry through attractive corporate tax policies.
“All of a sudden Ireland has our pharmaceutical companies, this beautiful island of five million people has got the entire U.S. pharmaceutical industry in its grasps,” he said. “We don’t want to hurt Ireland, but we do want fairness.”
Further stirring tensions, U.S. Commerce Secretary Howard Lutnick described Ireland as his favourite “tax scam” during a recent appearance on the All-In podcast, accusing the country of hoarding U.S. multinational pharmaceutical and tech intellectual property (IP) rights.
Trump also warned of broader trade action, threatening larger tariffs on both the European Union and Canada if they “work together to do economic harm to the USA.”
The proposed pharmaceutical tariffs could have significant implications for Ireland’s economy, where the pharma sector accounts for a major portion of exports and foreign investment, particularly from U.S.-based multinationals.
Dublin has yet to officially respond to the latest remarks, but the comments are expected to dominate upcoming transatlantic trade discussions.
