Ireland is expected to be one of the most affected countries when President Trump announces a new round of tariffs later this week. EU goods are expected to face a tariff of about 20% when entering the United States. Among EU countries, Ireland is the most reliant on the US as an export market. In 2024, Irish goods exports to the US were worth €73bn (£61bn), almost a third of the country's total exports. Tariffs are effectively taxes applied to goods imported from other countries. Governments impose tariffs in the hope of protecting local manufacturers from international competition. The Taoiseach (Irish Prime Minister) Micheál Martin said on Monday that increased US tariffs were "a very grave and serious threat". Analysis co-authored by Ireland's Department of Finance and the ESRI think tank suggested the tariffs could cost Ireland more than €18bn (£15bn) in lost trade. It also warned that a prolonged trade war between the EU and US would pose a risk to Ireland's public finances. Business impact of US tariffs The level of concern in Ireland as the tariff's announcement draws closer can be gauged by the level of public interest in the issue. Many Irish towns and cities have enjoyed the benefits of a US business presence for decades, while the workers who are employed in these big businesses travel to the plants from all over Ireland, meaning that the impact of any tariffs could reach into countless communities all over the country. Martin is standing in a room above a warehouse, he's wearing a white shirt and dark suit jacket with a combilift pin on his lapel. The pin is gold with combilift printed in green. He has short light/grey hair and is wearing thin black rimmed glasses. He is smiling at the camera. Martin McVicar, of Combilift, visited Chicago in March to brief his US customers Monaghan-based manufacturer Combilift makes about a quarter of its sales in the US market where it also employs 50 people. The company's co-founder and managing director Martin McVicar visited Chicago in March to brief his US customers. He told them he will freeze the dollar price of all Combilift products this year to give them some certainty about import costs. "We've given our customers certainty on what their costs will be in US dollars for products delivered to the port in the US. "At least they can try to plan their business around that at this stage." A forklift sits in a lane of a warehouse, with wood and other objects on shelves. The forklift is black and yellow, being operated by a man in hi-vis. Combilift's forklifts can operate in tight spaces, small enough to help companies store more in warehouses Mr McVicar remains bullish about the US market as he sees their products as helping customers run their businesses more efficiently. Combilift makes forklifts which can operate in very tight spaces which allow companies to store more in their warehouses. "We're enabling customers to expand without having to relocate and we're adamant that should outweigh the impact of a tariff," he said.