Government Drops Bold Market Diversification Playbook—Is This the Secret Weapon Against Crushing Tariffs?

Ever wonder how a 15% tariff can suddenly make the American market a trickier place for Irish exporters? It’s like showing up to a party and finding out the cover charge just doubled overnight—frustrating, right? Well, the Irish government isn’t about to just shrug and leave the game. Instead, they’ve rolled up their sleeves with an ambitious Action Plan on Market Diversification, a bold move that’s part strategic defense, part entrepreneurial hustle. Launched by Tánaiste Simon Harris and Minister Peter Burke, this plan isn’t just a reaction—it’s a full-on counterattack featuring over 100 actions designed to pivot Irish businesses toward new global opportunities. From fast-tracked visas for in-demand talent to expanding Ireland House offices in major cities, this living framework adapts as the global economic winds shift. So, whether it’s opening doors in Seoul or boosting market entry for 170 Irish exporters, this plan sets the stage for resilience and growth in uncertain times. Curious how this will shape the future for Irish entrepreneurs and investors? Dive deeper and see what’s ahead. LEARN MORE

The government has announced a raft of new supports aimed at combating the impact of US tariffs on Irish businesses.

The Action Plan on Market Diversification will see new markets targeted as a result of the 15% tariffs being placed on EU exports to the US.

The plan, launched by Tánaiste and Minister for Foreign Affairs and Trade Simon Harris and Minister for Enterprise, Tourism and Employment Peter Burke contains over 100 actions.

The government believes the measures will help mitigate against current risks and to bolster economic resilience. It described the plan as “a living framework that will evolve in response to global developments and the needs of Irish businesses.”

The Cabinet Committee on Economy, Trade and Competitiveness will receive six-monthly updates on the implementation of the plan.

Minister Burke said: “In an era marked by global economic uncertainty—shaped by shifting geopolitical realities and a rapidly evolving international trading landscape—it is vital that we continue to support Irish businesses and maximise trading opportunities across the globe.

“Our long-standing relationships with established markets remain a cornerstone of our success and we will seek to deepen these relationships, but we must also prioritise new partnerships with high-growth regions that offer fresh opportunities.

“Ireland’s economic model is built on open access to global markets, underpinned by free-flowing trade and investment.

“That openness makes us agile, but it also means we are exposed to changes in global trade patterns and currency movements.

“This Action Plan is about ensuring we stay ahead of those changes, on behalf of the many innovative Irish businesses with high-value products to export.” 

Among the actions being taken is a programme to support the market entry of 170 new Irish exporters around the world.

The government is to also examine the possibility of fast-tracked visa options to allow for quicker entries of skilled workers for high-demand sectors.

There is also a push to establish a new air access fund, with the intention of finding new routes, including strategic long-haul destinations. State agencies will also expand their footprint around the globe.

The IDA, which currently has a presence in over 20 locations overseas, is to undertake a review of strategic locations and supports – which includes necessary financial and human resources that it needs to implement a plan to attract, retain and renew foreign-direct investment.

The body will review market opportunities in Canada and will also establish a new market presence in South Korea’s capital, Seoul.

Bord Bia will look to increase its current presence in three markets, while also looking at the potential to increase its presence based on market priorities. There will be an increase in Tourism Ireland teams in the US and Canada.

Meanwhile, Enterprise Ireland launched two new grants to support its client companies to assess and respond to the impact of US trade tariffs.

The new supports will help companies to develop tariff mitigation strategies and to be market diversified.

Enterprise Ireland’s Market Research Grant will offer funding of up to €35,000 for companies to assess the full impact of tariffs, gain market insights and develop mitigation strategies, while its New Markets Validation Grant offers funding of up to €150,000 for companies to develop market entry strategies for new markets or new products.

An expansion of the government’s Ireland House model is also underway, which sees both diplomats and state agencies work under one roof.

There are currently Ireland House locations in New York, Tokyo, Singapore, Shanghai and Chicago, with plans to open similar facilities in London, Toronto, Lyon, Milan and Madrid.

It is aimed for trade missions, led by the Taoiseach, to restart in 2025 with a multi-ministerial visit to Canada, while plans will be put in place for similar missions elsewhere in 2026 and 2027.

The government’s St Patrick’s Day programme is also set to put an “increased focus” on key priority and emerging markets.

(Pic: Sam Boal / RollingNews.ie)