US EditionGlobal markets slide as fears over US tariffs intensify
- In 2025, the Irish economy, while robust with a strong labor market, faces significant uncertainty due to changing international trading conditions and potential US tariffs, particularly impacting the pharmaceutical sector.
- President Trump announced a 25% tariff on foreign-made cars and trucks and signaled broader measures, including tariffs on pharmaceutical imports, to be announced on April 2nd, aiming to bring pharmaceutical manufacturing back to the US.
- Taoiseach Micheál Martin stated the government is actively preparing for the potential economic shock of US tariffs, prioritizing the protection of Irish jobs and engagement with the Trump administration and the EU to mitigate the impact.
- Kieran McQuinn and Conor O'Toole of the ESRI noted that the Irish economy entered 2025 in a relatively positive position, but the outlook is clouded by international developments, with the ESRI forecasting Modified Domestic Demand growth of 2.8 to 3.0 per cent and CPI inflation rising by 2.0 per cent in 2025.
- Global stock markets plunged, with the Dow, S&P 500, and Nasdaq closing sharply lower on Friday, and gold hitting a record high of $3,085.96 an ounce, as investors grew nervous about the economic repercussions of the incoming US tariffs and the potential for retaliatory measures that could rekindle inflation and spark a recession.
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Global markets slide as fears over US tariffs intensify
Stock markets plunged Friday as a closely watched US inflation reading heated up amid intensifying concerns over fallout from President Donald Trump's incoming wave of tariffs.
·Florida, United States
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Tariff war will be bad for world economy, Taoiseach warns
Taoiseach Micheál Martin has said the Government's "over-arching priority" is to protect Irish jobs amid concerns US President Donald Trump's incoming tariff plans could see pharmaceutical and other firms reduce their presence in Ireland.
·Ireland
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Coverage Details
Total News Sources44
Leaning Left7Leaning Right7Center7Last UpdatedBias Distribution33% Left, 33% Center, 33% Right
Bias Distribution
- 33% of the sources lean Left, 33% of the sources are Center, 33% of the sources lean Right
33% Right
L 33%
C 33%
R 33%
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