Over half of large Irish businesses surveyed say they are looking at ways to become less reliant on the US in the wake of continued uncertainty over tariffs.

Consulting service Expleo spoke to Irish firms with over 250 employees about their concerns linked to both global and local economic stability over the next 12 months.

The research found that ongoing questions about tariff policies in the US have caused 57% of enterprises based here to investigate how they can reduce their reliance on the US.

In April, US President Donald Trump imposed a minimum tariff of 10% on almost all countries, while proposing extra "reciprocal" duties for some trading partners, including 20% on the EU.

He later suspended the reciprocal measures, giving partners 90 days to negotiate.

The research, carried out by Censuswide on behalf of Expleo, surveyed 200 business and IT decision-makers in Ireland.

It found that since November 2024, 64% of large organisations have assigned at least one person, or a team, to assess the impact of US policies on their business.

Almost a third, 28% of Irish business believe a trade war with the US is viewed as the second-greatest threat to Ireland’s digital economy over the next 12 months while a similar number raised fears about cybersecurity threats.

The greatest concern, according to 31% of those surveyed, was digital infrastructure constraints.

Overall, 70% of enterprises believe Ireland is a good location for digital innovation.

However, 63% said they are preparing for a weaker Irish economy over the next 12 months. 

Almost the same proportion, 64%, are preparing for a weaker global economy in the next 12 months.

Despite their economic concerns, 66% of large organisations are expecting business growth over the next 12 months.

This rises to 72% for private enterprises, versus 62% for publicly listed companies.

Phil Codd, Managing Director for Ireland, Expleo, said: “Our research clearly points to a nervousness among the largest enterprises in Ireland about geopolitical risk.

"By diversifying their trading relationships and reducing overreliance on any one market – even one as significant as the US – organisations can build greater resilience against global economic shocks.

“However, it is crucial that businesses – particularly large ones – avoid knee-jerk reactions. The US remains the world’s largest economy and an important trading partner.

"The goal should not be to abandon trading relationships with the US, but to supplement it with new ones.

He added: “Now is not the time to retreat – it is a time for bold action.

"The most successful organisations of the future will be those who embrace change, not fear it. In times of uncertainty, they will step forward, innovate and transform.

"At Expleo, we are empowering enterprises to move with confidence. We are using data-driven insights and transformative strategies that enable organisations to stand up to disruption and harness it as a catalyst for progress.”

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