Trump Tariffs to Hit NI Exports Hard, Study Finds

President Trump's tariffs have taken a toll on Northern Ireland's exports to the US. A recent study commissioned by Stormont's Department for the Economy found that the 10% baseline tariff imposed on most UK goods could reduce NI exports to the US by 15%. This reduction is expected to hit the pharmaceutical sector hardest, with exports potentially falling by 18% compared to a scenario without tariffs.

The research also suggests that the transport equipment sector will face significant losses, with exports of products such as aircraft parts down by 14%. The overall long-term impact on all NI goods exports to the US would be a 15% reduction, reducing Northern Ireland's economic growth potential by 0.4%

Stormont's Economy Minister Caoimhe Archibald said that the research confirms the negative consequences of increased trade barriers for economic growth, trade, and employment. She noted that Northern Ireland is particularly sensitive to changes in the global trading environment due to its small size and strong trading links with both Britain and the European Union.

The study's findings come as President Trump escalates his trade dispute with Canada by announcing a 50% tariff on various Canadian imports, including consumer items such as hockey sticks and industrial goods like cement. However, key exports such as energy, critical minerals, and fish will be spared from these tariffs.