US President Donald Trump has announced a series of reciprocal tariffs on other nations, including 20% on European Union imports to the US.

The announcement was made at the White House shortly after 9:00p.m tonight Irish time (Wednesday, April 2), which had been dubbed ‘Liberation Day’ by the president.

President Trump signed an executive order for the reciprocal tariffs on what he said was “one of the most important days in American history”.

He claimed that the US has been “looted, pillaged, raped and plundered by nations near and far, both friend and foe alike”.

The president said that jobs and factories would “come roaring back into our country”.

Imports

During his speech, President Trump held up a large chart detailing the range of reciprocal tariffs to be imposed by the US on various countries.

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 reciprocal tariff rates, including 20% on goods from the EU, claiming that the bloc charges a 39% tariff on US imports.

A tariff of 34% will be imposed on China, while a 10% trade tariff will be placed on all imports from the UK.

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

"These 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," the White House said in a statement.

In what is seen as a major shift in policy in terms of US trade, President Trump said that today’s announcement was a “declaration of economic independence”.

As part of his lengthy address, the president that said he was standing up for US farmers and ranchers who have been “brutalised” by nations all over the world.

He pointed to policies in Canada, the EU, Australia, China, South Korea and Japan when it comes to US agricultural produce.

The president also announced that from midnight, the US would impose a 25% tariff on all foreign made cars.

A number of workers from the American automobile industry were present at the White House for the announcement.

Reaction

Taoiseach Micheál Martin said that the decision by the US to impose 20% tariffs on imports from across the EU is "deeply regrettable".

"I strongly believe that tariffs benefit no one. They're bad for the world economy. They hurt people. They hurt businesses," he said.

"We will work with our European Union colleagues in on getting on a negotiation pathway with the US to limit the damage of these tariffs," the Taoiseach added.

A reaction from the European Commission President Ursula von der Leyen is expected in the early hours of tomorrow morning.

In an initial reaction to the announcement, the Irish Farmers' Association (IFA) said the relative differences will impact the competitiveness of Irish products on the US market, including Kerrygold butter.

"The fact that New Zealand only has a 10% tariff for dairy products and the UK only has a 10% tariff on drinks, while the EU will have 20% tariffs, will leave us at a competitive disadvantage against some of our biggest competitors in these two sectors," the IFA said.

Ireland exported circa €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 account for 91%.

Ireland also exports pigmeat (€23 million), beef (€8.8 million), and seafood (€3.8 million).

Kerrygold is now the second best-selling butter brand in the US, where Ireland sent almost €500 million worth of product in 2024. The market accounts for about 7.5% of Ireland's total dairy exports.

Danny McCoy, chief executive of Ibec, said that the organisation is "deeply disappointed by the US administration’s decision to impose 20% tariffs on exports from the European Union".

"Government must also work with business to assess the potential consequences for the Irish economy resulting from the imposition of US tariffs and the likely EU response to these tariffs.

"The government must advocate for a proportionate and measured EU response, informed by a detailed analysis of supply chains, strategic considerations, and the broader implications of any retaliatory measures," he said.

McCoy said that the tariffs will "present challenges for a number of sectors".

"Thankfully, we are in a position of economic strength, which will provide the necessary cushion to absorb slower growth and invest in diversifying market opportunities," he said.