Trump Warns of Tariffs on Irish Pharma, Escalates Trade Battle With EU

President Donald Trump is taking aim at Ireland’s tax system, accusing it of luring American pharmaceutical companies overseas and threatening to slap massive tariffs on the industry if it doesn’t return to the United States. His comments come as trade tensions with the European Union escalate, following Brussels’ decision to impose 25% retaliatory tariffs on U.S. steel and aluminum.

Speaking alongside Irish Prime Minister Micheál Martin, Trump praised Ireland’s strategy but blamed past U.S. leaders for allowing the mass exodus of American pharmaceutical companies.

“Ireland was very smart. They took our pharmaceutical companies away from presidents that didn’t know what they were doing,” Trump said. “It’s too bad that happened.”

American pharmaceutical companies began relocating to Ireland in the early 2000s due to low corporate tax rates, with U.S. production peaking in 2006 before companies moved overseas. In 2024 alone, Ireland exported over $79 billion worth of goods to the U.S., a $20 billion increase from the previous year.

Trump made it clear that if he had been in office at the time, he would have prevented the loss of American jobs and revenue.

“When the pharmaceutical companies started to go to Ireland, I would have said that’s OK, if you want to go to Ireland. But if you want to sell anything into the United States, I’m going to put a 200% tariff on you.”

Trump’s stance is clear any company that wants to sell to American consumers should manufacture in America not take advantage of low taxes abroad while still enjoying full access to the U.S. market.

While Ireland remains in Trump’s sights, he reserved his strongest criticism for the European Union, which he accused of taking advantage of the United States for years.

• The EU imposed 25% retaliatory tariffs on U.S. steel and aluminum after Trump implemented tariffs to protect American industry.

• Trump called the EU’s actions “very bad” and warned that he will respond accordingly.

• He compared the EU’s actions to Ontario’s attempt to hike electricity prices on U.S. customers, which he crushed by doubling steel and aluminum tariffs to 50% forcing Ontario to back down.

“We’ve been abused for a long time, and we will be abused no longer,” Trump declared.

Trump’s America First trade policy is back, and Ireland and the EU are on notice. No more will the U.S. allow foreign countries to profit off American industry while gutting jobs at home. If companies want access to the U.S. market, they’ll have to play by America’s rules.

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