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Irish Independent

Successfully navigating Trump tariff turmoil – advice and supports from Enterprise Ireland

While the situation remains fluid and evolving, there are a number of challenges Irish exporters can assess and address now, and steps they can take to mitigate against any future changes and potential impacts. Export-focused companies should remain conscious that this is a complex developing situation, likely to have a wider impact than just direct trade with the United States, including potential EU counter-measures on tariffs towards the United States, and other global trade deals recently announced and in development. Agile Irish businesses have proven their resilience time and again when economic shocks have impacted international economies in the past, and to remain agile, businesses need clarity and expertise to plan for whatever comes next. Enterprise Ireland is committed to supporting companies as they explore potential mitigation strategies to navigate these challenges, and we are continuing to proactively engage with our client companies on a one-to-one basis. Companies are encouraged to engage with their dedicated Client Advisors to ensure they have the latest information, and a dedicated webpage has detailed information about a suite of existing supports available to help them navigate some of the challenges which may arise, including the Market Discovery Fund and the Strategic Consultancy Grant. A dedicated Trade and Tariff Response team has also been established, Companies have told us they need support in a number of key areas, including up-to-date and relevant information and as such, we are running a series of trade tariff webinars with industry experts to help businesses to stay informed. Already available to watch on our website is an introductory webinar 'Trade, Tariffs and More', which gives an overview of the latest US tariffs and future considerations for cross-border trade. This was presented by John O'Loughlin, Partner in PwC's Global Trade and Customs practice, who was joined by Liam Morris, Director for Trade Policy at the Department of Foreign Affairs and Trade. Other available webinars include 'Navigating Value, Pricing & Contracts in a period of tariffs' with Dr Colm Reilly, which covers ways to sustain your business in uncertain times, while another takes a look at the impacts for Irish exporters as well as potential scenarios for further changes to US and EU trade rules. We also have a number of upcoming webinar information sessions, including one which will focus on financial management by looking at managing value, cash flow and profitability in times of trading uncertainty. A new Trade Disruption Checklist, which has been designed to help Irish companies identify and prioritise key areas of impact, risk and opportunity, is now available for companies. ADVERTISEMENT This resource, and our aligned supports, is focused on helping to guide companies through mapping supply chains, currency risk management, and relevant financial, strategic and operational considerations. At this time, it is crucial for companies to keep lines of communication open with customers, suppliers and channel partners, especially in the US, as this will help them understand and manage tariff impacts, cuts to public procurement rules or funding programmes, and any contractual change they may need to make. Enterprise Ireland's Trade and Tariff Response team continues to engage with hundreds of Irish companies to support them as they work to understand and mitigate against potential challenges. Now is the time to understand the risks and opportunities, to plan and develop mitigation strategies, and to focus on how to become more productive, innovative and competitive to deal with any challenges. Discover more information about trade and tariff support for businesses on