Waterford businesses affected by US tariffs can now avail of two grants worth up to €150,000

Businesses in Waterford and across Ireland that will be affected by incoming US tariffs can now avail of two different grants worth up to €150,000.

Enterprise Ireland has launched the two new grants to support Enterprise Ireland client companies who will be affected.  

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

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

Welcoming the launch of the new grants, Minister for Enterprise, Tourism and Employment, Peter Burke said,

“The imposition of US tariffs on EU products will undoubtedly have a negative impact on both businesses and consumers in the US and the EU. 

“These grants will provide crucial funding to exporters, helping them to diversify their markets and build resilience into their business models. While businesses strive to cement and grow trade with the US, it is critical that we seize every opportunity to identify fresh markets.

The Government’s Action Plan on Market Diversification takes a whole of Government approach to supporting Irish companies to secure new and diverse markets for their high-value and innovative products.”

Kevin Sherry, Executive Director, Enterprise Ireland said: 

“The US is and will continue to be an important primary export market for many Irish exporters. The new US 15% tariff rate is a challenge for Enterprise Ireland product-based client companies exporting to the US.

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"Enterprise Ireland is continuing to support client companies adopt a strategic approach to consolidate and grow their business in the US, while also pursuing diversification in other key markets, products, and customer bases to enhance resilience and sustain long-term growth. 

"Our two new grants, as well as our trade tariff response team and global team across our network of 42 international offices are key supports in assisting Irish exporters take concrete operational and diversification measures to safeguard profitability and protect jobs, against the cost pressures introduced by the tariffs.”  

Of the 950 Enterprise Ireland client companies that currently export to the US, Enterprise Ireland’s analysis indicates that approximately 450 of those companies that export goods will be most impacted by the new 15% US tariff rate on EU goods. The new tariff rate will impact these companies to varying degrees depending on the level and nature of their US exports.   

These client companies, primarily in the Food & Beverage, Engineering, Lifesciences, and Consumer Products sectors, account for €4bn in goods exports to the US. Total Enterprise Ireland client company exports to the US in 2024 were €6.6bn while clients’ total exports in 2024 were €36.75bn.  

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As highlighted by the US-EU Joint Statement last week (21^st August), potential carve-out for med-tech products and spirits and other areas are still to be determined. Over the coming period, as further details emerge, Enterprise Ireland will continue to undertake detailed analysis of the tariffs and their impact on different sectors.   

Enterprise Ireland is proactively engaging with clients who export to the US on a one-to-one basis and have also established a dedicated Trade Tariff Response Team to lead on this response.    

It's recommended that Enterprise Ireland client companies get in contact with their dedicated Client Adviser.   For more information on the supports available from Enterprise Ireland, visit Trade Tariffs | Enterprise Ireland or email tradetariffs@enterprise-ireland.com

For businesses who aren’t direct clients of Enterprise Ireland, they should contact the  National Enterprise Hub | Enterprise Ireland

LEO clients should get in touch with their local LEO office.