More than half of Irish firms cutting reliance on the US

Survey found 28% of business and IT leaders in large enterprises in Ireland viewed a trade war with the US as the greatest threat to Ireland’s digital economy

A survey of 200 companies with more than 250 employees also found two-thirds of companies have appointed at least one person, or a team, to assess the impact of US policies on their business.

More than half of large Irish companies are looking at ways to reduce their reliance on the US due to tariff policies.

A survey of 200 companies with more than 250 employees also found two-thirds of companies have appointed at least one person, or a team, to assess the impact of US policies on their business.

The research was carried out by Censuswide, on behalf of Expleo, to assess the economic sentiment fallout of new US tariff policies. It found 28% of business and IT leaders in large enterprises in Ireland viewed a trade war with the US as the greatest threat to Ireland’s digital economy over the next 12 months, tied with cybersecurity threats.

“Our research clearly points to a nervousness among the largest enterprises in Ireland about geopolitical risk," Phil Codd, managing director for Ireland at Expleo, said. "By diversifying their trading relationships and reducing overreliance on any one market — even one as significant as the US — organisations can build greater resilience against global economic shocks."

“However, it is crucial that businesses — particularly large ones — avoid knee-jerk reactions. The US remains the world’s largest economy and an important trading partner. The goal should not be to abandon trading relationships with the US, but to supplement it with new ones," he said.

Despite their economic concerns, 66% of large organisations are expecting business growth over the next 12 months. 

However, a cautious sentiment among enterprises may be bleeding into overall economic sentiment, with 63% saying they are preparing for a weaker Irish economy over the next 12 months.