Pharma chameleon

Trump proclaims his love for Ireland... & then hits us with 25% tariffs

- CIARA O'LOUGHLIN

• Tanaiste warns we face 'uncertain times' with 80K jobs and economy at risk

US PRESIDENT Donald Trump is set to spark a €60billion trade war targeting Ireland's pharmaceutical industry, ominously warning: "We're going to have that."

Speaking in the Oval Office, Trump said Ireland had been "very smart" in luring US pharmaceutical companies to these shores, stating: "We're going to be doing tariffs on pharmaceuticals to bring them back".

Taoiseach Micheal Martin admitted he was concerned by Trump's tariffs threats, but said he hoped the EU and US would find a "sensible resolution" on the issue.

It comes as the Irish Business and Employers' Confederation said Trump "doesn't understand the dynamics of what he's dealing with", while the Irish Pharmaceutical Healthcare Association said there were "challenging times ahead".

A 25% tariff on pharmaceutical companies in Ireland exporting to the US would be detrimental to the country's economy.

Of the €72billion exported from Ireland to the US in 2024, €58billion were pharmaceuticals, according to CSO statistics, while up to 70,000 people are employed in Ireland's biopharma sector.