EU-US Trade Deal Expected to Shape Ireland’s Budget, Says Finance Minister
Dublin: Finance Minister Paschal Donohoe has confirmed that the upcoming budget will reflect the impact of the European Union–US trade agreement, as the government continues to assess its economic implications.
The new budget comes amid concerns over a potential 15% tariff on Irish exports to the US, with additional tariff increases being considered on pharmaceutical products. Donohoe noted that the Minister for Public Expenditure has already engaged in discussions with Cabinet colleagues, including Minister Jack Chambers, as well as with industry representatives and stakeholders nationwide.
“These are times of significant change, and our focus is on the decisions required to protect and create jobs,” the minister said, adding that consultations will continue in the coming weeks.
Donohoe also suggested that the hospitality VAT rate could be reduced from 13.5% to 9% in the October budget, describing it as a commitment in the government programme. However, he stopped short of confirming whether the change would be included in the 2026 budget, indicating that the measure is more likely to be implemented by next summer.
The Finance Minister reiterated that the planned €1.5 billion tax package will remain unchanged in size, despite external economic pressures.
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