Enterprise Ireland has launched two new grants to support client companies impacted by US tariffs.
The agency said it would offer market research grants of up to €35,000 for companies to assess “the full impact of tariffs, gain market insights and develop mitigation strategies”.
There would also be a new markets validation grant of up to €150,000 for companies to develop market entry strategies for new markets or new products.
[ Burke announces ‘market diversification’ plan in response to tariffsOpens in new window ]
Of the 950 Enterprise Ireland client companies that currently export to the US, the agency estimates that approximately 450 will be “most impacted” by the new 15 per cent US tariff rate on EU goods exports.
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The companies are primarily in the food and beverage, engineering, life sciences and consumer products sectors.
Collectively they account for €4 billion in goods exports to the US, Enterprise Ireland said.
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Total Enterprise Ireland client company exports to the US in 2024 were €6.6 billion while clients’ total exports in 2024 were €36.75 billion.
The roll-out of the supports comes as the Government launches a new action plan to help companies diversify their export markets in response to greater US protection.
“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,” Minister for Enterprise Peter Burke said.
“These grants will provide crucial funding to exporters, helping them to diversify their markets and build resilience into their business models,” he said.
“While businesses strive to cement and grow trade with the US, it is critical that we seize every opportunity to identify fresh markets,” Mr Burke said.
The EU-US trade deal could still contain potential carveouts for medtech products, spirits and other areas.
“Over the coming period, as further details emerge, Enterprise Ireland will continue to undertake detailed analysis of the tariffs and their impact on different sectors,” it said.
