Trump tariffs are hurting Irish, US and global economies — OECD

A skills shortage in Ireland may result in a reluctance by multinationals to shed staff here

OECD warned public spending pressures were mounting, with higher spending and weaker tax revenues due to tariff effects reducing the budget surplus. Picture: Dan Linehan

Heightened uncertainty over tariffs will encourage Irish households to save more despite rising wages, the Organisation for Economic Co-operation and Development (OECD) has predicted.

The OECD noted the United States was Ireland’s biggest export market, and multinationals play a large role in Irish exports and tax revenues. In its economic outlook, the OECD said higher tariffs or non-tariff trade barriers would lower Irish growth and exacerbate medium-term fiscal challenges.