Cork's Pharma sector could be hit hard.
The United States President has announced a sweeping new tariff on imported medicines, targeting companies that are not building factories in America.
The measure, set to take effect on 1 October, imposes a 100% duty on any branded or patented pharmaceutical unless a company is already breaking ground on a US plant.
Ireland, the largest EU supplier of pharmaceuticals to the US, could be among the hardest hit. Last year, Irish pharmaceutical exports to the US totalled €33 billion, accounting for more than a quarter of EU exports.
Cork, a key hub for the sector, could feel the impact sharply.
More than 30 pharmaceutical and life sciences companies are based in the city and county, directly employing over 10,000 people
Among them are seven of the world’s top 10 pharmaceutical companies, including Pfizer, Janssen, Merck, and Novartis. Cork also manufactures six of the ten most lucrative drugs globally, each generating over 1 billion annually.
The President has also announced levies on kitchen cabinets, bathroom vanity units, and heavy trucks, citing national security and the need to protect American jobs.
