Tariffs That Liberate the Wealthy and Shackle the Rest
On April 2, 2025, President Donald Trump declared "Liberation Day," announcing sweeping tariffs aimed at boosting U.S. manufacturing.
These include a 34% tax on imports from China, 20% on the European Union, 24% on Japan, and 32% on Taiwan. (Source)
While these measures are framed as protecting American jobs, their global consequences could hit small, open economies like Ireland especially hard.
Ireland, as a major EU exporter and a deeply globalised economy, is caught squarely in the crossfire of this trade war.
The Real Cost of Tariffs: Higher Prices for Irish Consumers
Tariffs work like hidden taxes on imported goods, and the costs rarely stop at the border. Irish businesses that import raw materials, consumer products, or components from Asia, the US, or mainland Europe will likely see prices rise. And so will Irish shoppers.
Essential goods—from electronics and cars to clothes and pharmaceuticals—could become more expensive, especially if EU producers pass on their increased costs.
In a country already dealing with soaring rents, rising grocery bills, and one of the highest childcare costs in Europe, these tariffs risk pushing everyday expenses even higher.
Irish manufacturers and exporters, especially those with U.S. clients, could also be hurt. Higher barriers to trade mean thinner margins, job uncertainty, and even layoffs in sectors like medtech, agri-food, and electronics.
A Pattern That Protects the Rich and Punishes Everyone Else
Once again, it won’t be the wealthy who feel the pinch.
Those with assets, financial buffers, or multinational connections will manage just fine. But working-class families—already struggling with housing and healthcare—will be left holding the bag.
As always, the people least responsible for the crisis are the ones who pay for it. Meanwhile, wealthy investors and corporates continue to benefit from a global economy tilted in their favour—one where decisions made in Washington or Frankfurt ripple into every Irish pocket.
The Illusion of Economic Nationalism
Trump's nationalist rhetoric may energise his political base, but the economic reality is clear: a trade war won't make America stronger, and it certainly won't help Ireland.
Ireland depends heavily on international trade. A global breakdown in cooperation threatens our export-heavy economy, foreign investment, and fragile supply chains.
These tariffs won’t “protect jobs”—they’ll hurt them. They don’t build resilience—they make basic goods more expensive and weaken the international links that keep small economies like Ireland afloat.
In reality, this isn’t about protecting workers. It’s about consolidating power—ensuring that those who already have wealth and influence continue to benefit while others carry the cost.
Conclusion: Ireland Can't Afford to Stay Silent
Trump’s tariffs may be aimed at China and the EU, but they’ll hit Ireland too.
And once again, it’ll be the ordinary family in Dublin, Cork, or Galway paying more at the till, worrying about job security, and watching global politics make their lives harder.
We must ask—who actually gains from this?
Because it’s not the young couple renting in Limerick, the small business in Longford, or the nurse in Donegal.
This is yet another reminder that the global economy is structured to benefit the few—while the rest are left to absorb the shock.