Irish medical and pharmaceutical exports to the US have seen a significant surge, with a year-on-year increase above 450% in February 2025, according to data released on 15 April and reported by Reuters.
The spike in exports comes as the drug manufacturers in the US stockpile medicines in anticipation of new tariffs.
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Ireland’s Central Statistics Office stated that in February, these product exports to the US reached €10.5bn ($11.8bn), up from €1.9bn in the same month of 2024.
This follows a substantial increase in January, when exports rose 130% to €9.4bn.
The US administration has initiated an investigation into pharmaceutical imports, with President Donald Trump expressing his intention to impose tariffs on these goods shortly.
Trump has specifically targeted the manufacture of drugs in Europe, with a focus on Ireland, as an area for potential tariffs.
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By GlobalDataIreland hosts 12 of the largest global drug manufacturers, many of which produce medicines or active ingredients for the American market.
The recent export increases have been attributed by Ireland’s Central Bank to the production of in-demand weight-loss drugs, but also suggest stockpiling activities due to tariff threats.
In response to these threats, a few manufacturers have resorted to air-freighting more medicines to the US, as indicated by two executives and two logistics firms to Reuters.
In February 2025, President Trump signed a memorandum directing his staff to develop country-specific tariffs, considering factors such as currency values, current tariff rates and trade balances.
The move heightened the sense of urgency among pharmaceutical companies to secure their US supply chains.
The BBC reports state that the Republic of Ireland’s export of goods to the US increased by more than 200% in February 2025.
Trump has also hinted that the US is set to announce major tariffs on pharmaceutical imports soon.
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