Donald Trump’s tariffs on imports from the European Union will be “liberating in many ways”, a Republican economist has insisted. 

Today, it is expected that the US President will decree that all goods from the bloc will be hit with a 20% import tariff. 

Although Mr Trump said during the Taoiseach’s recent visit to the White House that he did not want to “do anything to hurt Ireland”, Irish companies are particularly exposed. 

Last year, Ireland exported €73 billion worth of goods to the United States. 

On Newstalk Breakfast, Republicans Overseas UK & Ireland Chair Greg Swenson said he thought it would be “great news” in the long run.  

“I don’t think it’s anti-trade, I think it’s fair trade,” he insisted. 

“I think we’re all very much advocates of free and fair trade but for a few generations now, it’s been free for some trading partners but surely not fair. 

“So, I think this will be liberating in many ways in the sense that it will bring tariffs into some sort of reciprocal level that is much more fair. 

“Then, hopefully, free trade will continue.” 

There will never have been a transformation of a Country like the transformation that is happening, for all to see, in the United States of America. Companies are pouring into our Country at levels never seen before, with Jobs (and Money!) to follow. It is a beautiful thing to…

— Donald J. Trump (@realDonaldTrump) March 31, 2025

Mr Swanson conceded that the tariffs could be described as “punitive”, adding that they might only be temporary. 

“But right now, the tariffs imposed on American products are punitive,” he said. 

“So, is there a little tit for tat, maybe? But I do think there’s a lot of room for negotiating.

“In the long run, what’s important is that the barriers to trade are reciprocal.” 

Photograph of Taoiseach Micheál Martin with US President Donald Trump. Photograph: Tasos Katopodis / Government of Ireland

Mr Swanson acknowledged that tariffs mean a “lot of risk for Ireland” but said Mr Trump “just wants to get the ball rolling”. 

“This isn’t as much about trade with Europe as trade with China,” he said. 

“Where there’s a $330 billion trade surplus; basically, industries in America I wouldn’t say ruined, but close to ruined by the import of Chinese cheap and slave labour [manufactured] products. 

“I think that’s something that is really controversial in America right now.” 

On Monday, Taoiseach Micheál Martin said tariffs will have a “very grave impact” on Ireland’s economy and that they could “very well” mean less money to spend in the budget this autumn.

Main image: Donald Trump. Picture by: Molly Riley/White House/ZUMA Press Wire.