US-Ireland Trade Deficit at Record on Pre-Tariff Pharma Imports

The US merchandise-trade deficit with Ireland soared to a record in March on a massive inflow of pharmaceutical and medicines, likely a preemptive move by drug companies to front-run expected tariffs.

The shortfall with the Emerald Isle more than doubled to a seasonally adjusted $29.3 billion — larger than the US’s $24.8 billion goods deficit with China. It was also wider than two other major US trade partners, Canada and Mexico. Overall, the value of imports from Ireland was twice the total brought in a month earlier.

Trade data released Tuesday showed US imports of pharmaceutical preparations ...