With 450 Irish firms responsible for€4bn worth of exports to the US directly affected by the new US tariffs, Enterprise Ireland launches new grants to help them weather the storm.
Enterprise Ireland has announced two new grants aimed at helping Irish exporters respond to the recently imposed 15% US tariffs on EU goods.
The initiative coincides with the Government’s launch of the Action Plan on Market Diversification, which outlines a coordinated approach to expanding Ireland’s global trade footprint.
“These grants will provide crucial funding to exporters, helping them to diversify their markets and build resilience into their business models”
The new supports are designed to assist Enterprise Ireland client companies in developing tariff mitigation strategies and exploring new markets.
Identify new markets
“The imposition of US tariffs on EU products will undoubtedly have a negative impact on both businesses and consumers in the US and the EU,” said Minister for Enterprise, Tourism and Employment Peter Burke, TD.
“These grants will provide crucial funding to exporters, helping them to diversify their markets and build resilience into their business models. While businesses strive to cement and grow trade with the US, it is critical that we seize every opportunity to identify fresh markets.”
The new grants include:
- Market Research Grant: Provides up to €35,000 in funding for companies to assess the impact of tariffs, gather market insights, and formulate mitigation strategies.
- New Markets Validation Grant: Offers up to €150,000 to support the development of market entry strategies for new markets or products.
Enterprise Ireland’s analysis shows that of the 950 client companies currently exporting to the US, approximately 450 – primarily in the food and beverage, engineering, life sciences, and consumer products sectors – will be most affected by the new tariff rate.
These companies account for €4bn in goods exports to the US. In 2024, total exports by Enterprise Ireland client companies to the US reached €6.6bn, with global exports totalling €36.75bn.
Kevin Sherry, executive director at Enterprise Ireland, emphasised the importance of strategic planning.
“The US is and will continue to be an important primary export market for many Irish exporters. The new US 15% tariff rate is a challenge for Enterprise Ireland product-based client companies exporting to the US.
“Enterprise Ireland is continuing to support client companies adopt a strategic approach to consolidate and grow their business in the US, while also pursuing diversification in other key markets, products, and customer bases to enhance resilience and sustain long-term growth.”
Enterprise Ireland has also established a dedicated Trade Tariff Response Team and is engaging directly with affected companies. The agency will continue to analyze the evolving tariff landscape, including potential carve-outs for medtech products and spirits, as referenced in the recent US-EU Joint Statement.
Client companies are encouraged to contact their Enterprise Ireland Client Adviser for support. Non-clients can reach out to the National Enterprise Hub, while Local Enterprise Office (LEO) clients should contact their local LEO office.
For more information, visit Trade Tariffs Enterprise Ireland or email tradetariffs@enterprise-ireland.com.
-
Bank of Ireland is welcoming new customers every day – funding investments, working capital and expansions across multiple sectors. To learn more, click here
-
For support in challenging times, click here
-
Listen to the ThinkBusiness Podcast for business insights and inspiration. All episodes are here. You can also listen to the Podcast on:
-
Spotify
-
SoundCloud
-
Apple
