US Edition
Ireland's 'economic miracle' at risk from tariffs
- Official data released on July 28 showed Ireland’s GDP shrank 1 per cent in the second quarter, amid tariff threats.
- Irish Prime Minister Micheal Martin said avoiding 'punitively high tariffs' was welcome, but warned higher levies will make trade 'more expensive and more challenging' after Trump threatened a 50,000 levy.
- The sector benefits from pharmaceutical companies like Pfizer, Eli Lilly, and Johnson & Johnson, which have based European headquarters in Ireland, while specific employment and export figures are not provided.
- The US administration could impose further tariffs, and Brennan said they 'risk strongly discouraging...' Irish investment.
- Investors from the United States boost Irish tax coffers as Ireland still anticipates a 9.7 billion euro surplus for 2025.
56 Articles
56 Articles
Ireland’s ‘economic miracle’ at risk from tariffs
The deal between the United States and the European Union may have averted a transatlantic trade war, but worries persist in Ireland where crucial sectors are dependent on US multinationals. Attracted primarily by low corporate taxes, huge pharmaceutical firms like Pfizer, Eli Lilly, and Johnson & Johnson, and tech giants like Apple, Google, and Meta
German economic expert says Washington's 15% tariffs 'a huge burden'
The tariff agreement between the European Union and the United States represents a significant burden for parts of the German economy, a top economist said on Monday. Tariffs of 15% are an "enormous burden for the economy, not only here but also in the US," Ulrike Malmendier, a member of the German Council of Economic Experts, said on public broadcaster ARD. In previous years and decades, a rate of approximately 1% had applied, she noted. "In co…
The tariff agreement between the European Union and the United States is posing a significant burden on certain sectors of the German economy, according to a member of the Council of Wise Men, the German government's economic advisory body.
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