KPMG warns that US tariffs could significantly impact Irish exports, while acknowledging potential consumer backlash in the US. The report highlights Ireland's attractiveness for investors despite potential corporation tax changes, forecasting a GDP rebound in 2025. However, concerns remain regarding inflation, energy costs, and potential employment stagnation.
Trump’s tariffs could directly affect about one-third of all Irish goods exports, KPMG warnsKPMG economist Daragh McGreal said the global economy is now “highly dependent” on the political choices of a few decision-makers. “Tariffs have become a key concern, and economies are vulnerable to their implementation,” he said.
“This could, in turn, weaken the political momentum behind the administration’s tariff agenda,” according to the report. “Many multinationals may see corporation tax changes as a part of a four-year cycle, rather than as a fundamental long-term shift in US tax policy,” he said. While Government supports cushioned the impact of inflation for many Irish citizens in 2023 and 2024, many of these are expected to be discontinued this year.
TRUMP TARIFFS IRELAND ECONOMY US-IRELAND TRADE CORPORATION TAX INVESTMENTS
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