Irish dairy co-op Ornua has said that it "regrets" the US decision to impose additional tariffs on its Kerrygold butter.

Last night (Wednesday, April 2), US President Donald Trump announced a series of "reciprocal tariffs" on other nations, marking a major shift in trade policy.

There will be a baseline or minimum tariff of 10% placed on all goods entering the US, which will take effect from April 5.

However, the president announced a series of higher tariff rates, including 20% on goods from the EU, which would include Kerrygold butter.

The individualised reciprocal higher tariff on the countries with which the US has the “largest trade deficits” takes effect April 9.

While it is disappointed by the announcement, Ornua said that it "remains hopeful that a negotiated solution can be reached between the US and the EU".

"Our products are subject to US import duties and additional tariffs will have a negative impact on our business, on our US consumers, and on the dairy farmers who supply Kerrygold. "For over 30 years, US consumers have chosen Kerrygold because of its distinct Irish grassfed credentials.

"We will endeavour to ensure Kerrygold butter and cheese continues to offer US consumers a unique proposition. "The US will remain a very important market for Ornua, and we are committed to further investing in our businesses there, and meeting the needs of our wonderful US consumers who love Irish grass-fed dairy," the co-op said.

Ireland exported around €1.9 billion-worth of food and drink products to the US in 2024, which represents around 11% of our total food and drink exports.

Within the €1.9 billion figure, dairy exports to the US were valued at €830 million and drinks, predominantly whiskey, at €900 million, together accounting for 91%.

The White House has confirmed that the tariffs will remain in effect "until such a time as President Trump determines that the threat posed by the trade deficit and underlying non-reciprocal treatment is satisfied, resolved, or mitigated".