One year after US President Donald Trump's 'Liberation Day' tariff announcement on April 2, 2025, Ireland's economy has experienced limited impacts from tariffs compared to other countries. While some sectors, particularly food and plastics, have felt the effects, Ireland's pharmaceutical exports have largely been shielded. Trump’s initial plan to impose a 20% tariff on imports from the European Union (EU) faced backlash, leading to a delay in implementation. By early 2026, the average tariff on goods entering the US rose to just under 14%, up from 2.5% prior to Trump's presidency. Despite this, 75% of Irish exports by value remain unaffected by tariffs. However, uncertainty persists as Trump has initiated a new investigation into trade practices, particularly targeting countries with trade surpluses, including Ireland. The future of the EU/US trade deal, which could stabilize tariffs, remains uncertain, with the European Parliament voting to proceed but imposing conditions. As Ireland continues to navigate these challenges, businesses, especially in the food and drink sector, are left grappling with fluctuating tariffs and potential future risks.