Finance minister warns Cork would be hit hard by Trump's proposed 200% pharma tariffs

Paschal Donohoe said the US pharma review is important 'particularly for Cork because of the excellence it has shown in supporting manufacturers of medicines and drugs'

Finance minister Paschal Donohoe: 'The reason those supply chains are present in Ireland is because of the decades of experience and expertise that have been built up here.' File picture: Brian Lawless/PA

Finance minister Pascal Donohoe warned that Cork will be particularly impacted by tariffs on pharmaceuticals following threats by US president Donald Trump of levies totalling 200% on the pharma sector.

Donald Trump told a US cabinet meeting this week that tariffs on the industry would be imposed “very soon” and would be implemented at a “very high” rate, which he said would help push major drug makers to reposition their operations in favour of the US.