Irish Pharma, Tech Avoiding Tariff Hits for Now, Watchdog Says

Ireland’s largest corporate taxpayers have so far avoided impact from US tariffs, but risks are rising, the country’s fiscal watchdog said Wednesday.

In a report, the Irish Fiscal Advisory Council said US multinationals in the technology and pharmaceutical sectors, which account for much of Ireland’s corporate tax receipts, had avoided negative impacts on profitability from a tariff war set off earlier in 2025 by the US administration.

The threat of tariffs may instead serve to temporarily boost Ireland’s corporate tax receipts, IFAC said, owing to a surge in exports by pharma groups to the US ahead of any additional ...