On Monday, the Trump administration initiated an investigation into pharmaceutical imports, with the president vowing that tariffs on pharma products would be implemented in the “not-too-distant future.”
“We no longer produce our own drugs,” Trump stated during a media session, as noted by my colleague Brett LoGiurato. “All I need to do is impose a tariff. The higher the tariff, the quicker they arrive.”
Trump has often pointed to Europe — especially Ireland — as a key target for these tariffs.
However, recent reports indicate that if tariffs do materialize, Ireland and its US partners will not be entirely taken by surprise. According to Reuters, Ireland has been hastily exporting pharmaceuticals and medical products to the US in anticipation of tariffs, utilizing air transport among other methods.
Irish pharmaceutical exports to the US skyrocketed by over 450% in February compared to the previous year, jumping from 1.9 billion euros to 10.5 billion euros, according to Ireland’s Central Statistics Office. Exports also surged by 130% in January, reaching 9.4 billion euros, suggesting that US drug manufacturers might be stockpiling medications.
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