Irish exports to the US down almost 25% as tariff pressures stifle trade 

On a monthly basis, exports of goods to the US fell by almost 60%, reflecting the fallout from tariffs as well as stockpiling efforts by companies seeking to avoid punitive levies. (AP Photo/Alex Brandon)

Irish exports to the US dropped significantly in June as the fallout from US President Donald Trump's punitive tariff campaign stifled trade between the two countries. 

New figures released by the Central Statistics Office (CSO) on Friday show exports to the US fell by almost a quarter compared to June 2024, dropping by €1.3bn to a total of €4.4bn. 

Despite the notable decline, the US remained Ireland's largest trading partner, with exports to the US accounting for just under 25% of total exports in June.

The products which accounted for the largest share of US exports were chemicals and related products at €3.2bn, miscellaneous manufactured articles at €622m and machinery and transport equipment at €412m. These products represented 72.3%, 14.3% and 9.5% of total exports to the US in June.

On a monthly basis, exports of goods to the US fell by almost 60%, reflecting the fallout from tariffs as well as stockpiling efforts by companies seeking to get ahead of punitive levies.

Overall, the value of goods exports increased by 4.8% to €17.5bn in June 2025 compared to the same month last year, the CSO said. 

For the three months between April and June, exports were valued at €63.1bn, reflecting a rise of 16.5% compared with the same quarter last year.

Stockpiling

However, it also reflected an almost 30% fall compared to the previous quarter, which was especially high due to stockpiling efforts ahead of President Trump's 'Liberation Day' tariff announcement in April. 

Similarly, goods exports declined by more than 26% to €17.2bn in June compared to the previous month, leading to a decrease of 56% in Ireland's seasonally adjusted trade surplus.

"This drop in US-bound exports was expected," said Carol Lynch, Head of Customs and International Trade Services at BDO.

"The past several months have seen significant front-loading and stockpiling ahead of new US tariffs, with trade flows now normalising.

"Attention now turns to the outcome of the US Section 232 investigation, which will determine whether EU pharmaceuticals will face the new standard US-EU tariff ceiling of 15%, a lower rate, or potentially a higher one - though the EU insists the 15% cap will apply."

Exports of medical and pharmaceutical products increased by 9% to €7.3bn in June compared with the same month last year, representing over 41% of total exports. Meanwhile, exports of organic chemicals decreased by almost 30% to €1.8bn compared to June 2024. 

The EU has not said when a joint statement on tariffs with the US would be ready, nor when the White House would issue an executive order on European car import duties. The EU and US reached a framework trade agreement at the end of July but only the 15% baseline tariff on European exports had so far come into effect, as of last week. 

EU officials previously said a joint statement would follow the deal "very soon" along with executive orders from US president Donald Trump on key carve-outs.