'Trump's toxic love affair could cost us dearly' - Concerns over tariffs raised in Dáil

The potential impact on Ireland of tariffs being imposed by the United States on goods from the European Union has been raised in the Dáil.

It's widely expected that President Donald Trump will announce the imposition of tariffs as high as 25% next week.

Speaking during Leaders' Questions in the Dáil, Cian O'Callaghan deputy leader of the Social Democrats said: "Donald Trump has called April 2nd Liberation Day because it's the day that he plans to launch a global economic war. Ireland will  inevitably be impacted but the extent had been unclear.

"However last night (Wednesday) we learned that Donald Trump has pharmaceuticals in his cross hairs.  'We love Ireland but we are going to have that' he said referring to our pharma sector. Trump's toxic love affair with the country could cost us dearly."

READ ALSO: 'Ireland was very smart' - Donald Trump to introduce pharmaceutical tariffs

In response, Minister for Finance Pascal Donohoe said: "The government laid out, last week, our analysis of what the impact of this could be on our economy and on many occasions - both within the Dáil and elsewhere - we have outlined three priorities."

These, he said, include engaging with the United States of America, engaging with partners across the EU and looking at measures to help strengthen the Budget within Ireland.

Meanwhile, Taoiseach Micheál Martin has said he met with the Tánaiste, the Minister for Public Expenditure and the Minister for Finance on Monday to "game various scenarios" and to work through what may transpire in relation to US tariffs and global trade developments.

"We don't understate the seriousness of the impact of such tariffs on the European economy or the Irish economy. We are worried, we are concerned about it, but we are working flat out," the Taoiseach told RTÉ News.