Trump -Zölle: Ireland increases the growth prospects

The Irish government has revised its forecasts for economic growth due to global uncertainty and warned that a transatlantic trade war will lead to further economic weakening.

It is expected that the domestic economy of Ireland will grow by 2.5% this year, compared to an earlier forecast of 2.9%.

In the event of a tariff war between the EU and the USA, growth will be forecast this year with 2% and will drop to 1.75% next year.

The forecasts relate to a measure that is known as a modified domestic demand (MDD) and exceeds the distorting effects of multinational companies.

The Irish finance minister Paschal Donohoe said: “The more contested and fragmented world, which now takes shape, represents a serious headwind for the Irish economy, which has benefited so much from the ruled, multilateral trading system.

“Even if there are no further changes in the tariffs, there are indications that companies and households pursue a waiting period.

“In other words, they stand out for purchases with a big ticket. This is also a characteristic in other economies.”

The economy of Ireland is one of the potential effects of the tariffs of US President Donald Trump.

Customs are effectively used to use taxes that are used in other countries.

In 2024, the Irish exports in the USA amounted to EUR 73 billion (EUR 61 billion), almost a third of the country's entire exports, with a special concentration in pharmaceuticals.

Ireland's exports to the United States rose by more than 200%in February, when companies worked on bringing to the country in front of new tariffs.

In April, Trump imposed almost all countries a minimum tariff of 10%, while he suggested additional “mutual” tasks for some trading partners, including 20% ​​in the EU.

Later he suspended the mutual measures and gave partners 90 days for the negotiation.

On Tuesday, the EU's trade officer, Maros Sefcovic, said the 90 -day break would also be used to prepare further countermeasures when the talks fail.

“We don't feel weak. We do not feel under inappropriate pressure to accept a deal that would not be fair for us,” Sefcovic told the European Parliament.