The value of Irish exports plummeted by 26.3% between June, and May, the latest figures from the Central Statistics Office (CSO) show.
Exports to the US dropped by 59.6% in June to €4.4 bn compared with €10.8 bn in May.
The big significant fall off had been expected as companies stocked up ahead of the introduction of tariffs.
On an annual basis, exports to the US fell by 23.4% to €4.4 bn in June compared with the June 2024 figure of €5.7 bn.
The CSO said the value of overall exports rose by 4.8% to €17.5bn in June from €16.7bn the same month last year.
Ireland's main export destinations in June were the US, the Netherlands and Belgium, with Ireland exporting 24.9%, 13.9% and 10.1% of total export goods respectively to these countries.
Meanwhile, exports to Great Britain increased by 12.8% to €1.24 bn in June compared with €1.10 bn in June of last year.
The CSO data showed exports to Great Britain accounted for 7.1% of total export trade in June
The figures also showed that exports of Medical & Pharmaceutical Products increased by 8.9% to €7.3 bn in June from €6.7 bn in June of last year - marking 41.4% of total exports.
But exports of Organic Chemicals decreased by 29.9% to €1.8 bn in June compared with €2.5 bn the same time last year.
The CSO also reported a seasonally adjusted trade surplus of €5.4 bn for June, down from €12.3 bn in May - a drop of 55.7%.
Alex Deaton, Junior Dealer at global financial services firm Ebury, said: “Today’s data shows that Irish exporters are holding their ground, but tougher times could lie ahead.”
"Ireland’s exporters may have dodged a punishing 30% US tariff, but the 15% blanket rate still marks a step-change from the trading conditions of a year ago.
"Even with firms now benefitting from some certainty, the reality is a far more restrictive environment, one that is going to have knock on consequences for Irish businesses and the economy.
“A carveout on certain products such as spirits and diary could be on the cards, but with US President Trump signalling potential hikes on pharmaceuticals, the prospect of any favourable deals remains uncertain.
“With businesses facing rising costs, they must consider every option, from diversifying markets, reviewing FX hedges and securing flexible finance to help build resilience to any unexpected headwinds."
