President Donald Trump's announcement of 30% tariffs on the European Union will have repercussions for companies and consumers on both sides of the Atlantic.

President Trump announced in a letter posted to social media on Saturday that he would place a 30 percent tariff on goods from the European Union, upending months of careful negotiations and further roiling what is one of the world’s most important economic relationships.

Ireland, with a major pharmaceutical industry, is in the front line along with Germany, for whom the United States is a major outlet for its cars, steel and machine tools

Mexico did not face a new tariff on April 2, the day of Trump's so-called "Liberation Day" tariff rollout. There remains a 25% tariff on non-USMCA-compliant goods from Canada and Mexico, as well as a 50% tariff on steel, aluminum and derivative products.