Ireland’s trade surplus with the United States soared in the first half of the year as firms rushed products across the Atlantic in advance of anticipated tariff hikes.
Tánaiste and Minister for Trade Simon Harris will update Cabinet on export figures on Wednesday, while warning that Irish exporters continue to be negatively impacted by the changed trading environment with the US, even in light of a deal agreed between Washington and Brussels.
Since August 7th, a 15 per cent tariff has been in effect.
According to figures he will present to Cabinet, Irish exports to the end of June surged to €75.4 billion, €41.7 billion higher than for the same period in 2024 as firms increased exports in anticipation of higher tariffs. More was exported in the first half of the year than in the entirety of 2024.
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With US imports stable, the trade surplus with the US has increased from €22.4 billion to €64.4 billion for the first half of the year – higher than the €50 billion trade surplus for the entirety of 2024.
The main driver of the increase has been pharmaceuticals. Mr Harris will also tell Cabinet that the forthcoming budget has to take measures to help businesses facing economic uncertainty.
[ Tariffs: what do Trump’s latest pharma threats mean for Ireland?Opens in new window ]
Meanwhile, Cabinet will be told that the use of DNA samples by gardaí in investigations grew by almost 40 per cent last year.
Minister for Justice Jim O’Callaghan will tell Ministers there is an increasing emphasis on the use of DNA in Irish criminal justice cases, reflected in the growth of the criminal justice database maintained by the State.
The 2024 report shows an increase in the size of the database, with the number of profiles held reaching 83,500, an increase of 12 per cent on the previous year. Mr O’Callaghan will brief his colleagues on the database assisting in 1,000 investigations last year, an increase of nearly 40 per cent.
Minister for Culture and Sport, Patrick O’Donovan, meanwhile, will brief Cabinet on the annual reports of the Chester Beatty library and the Digital Hub Development Agency, as well as the development of the velodrome and badminton centre at the national sports centre.
[ Irish exporters ‘told to shut their mouths’ over Trump tariffsOpens in new window ]
He will seek approval for €100 million for the sports projects, which are to feature a 250 metre cycling track, 12 badminton courts and spectator seating. Walls Construction will be main contractor for the project.
A plan to expand the remit of the Grangegorman Development Agency, initially charged with redeveloping the site of the former St Brendan’s Hospital in north Dublin as a campus for TU Dublin, will also be brought to Cabinet.
Minister for Higher and Further Education James Lawless will propose to expand the agency’s functions to allow work on capital projects outside the Grangegorman site.
