The Government is to announce new supports in an effort to mitigate the impact of US tariffs on Irish businesses this morning.

The Action Plan on Market Diversification will see new markets targeted as a result of the 15% tariffs being placed on EU exports to the US.

The plan, being launched by Tánaiste and Minister for Foreign Affairs and Trade Simon Harris and Minister for Enterprise, Tourism and Employment Peter Burke contains over 100 actions.

The Government says this is to help mitigate against current risks and to bolster economic resilience.

Among the proposals, there will be a programme to support the market entry of 170 new Irish exporters around the world.

The Government is to also examine the possibility of fast-tracked visa options to allow for quicker entries of skilled workers for high-demand sectors.

There is also an effort to establish a new air access fund, with the intention of finding new routes, including strategic long-haul destinations.

State Agencies will also expand their footprint.

The IDA, which currently has a presence in over 20 locations overseas, is to undertake a review of strategic locations and supports – which includes necessary financial and human resources which it needs to implement a plan to attract, retain and renew foreign-direct investment.

The body will review market opportunities in Canada and will also establish a new market presence in South Korea’s capital Seoul.

Bord Bia will look to increase its current footprints in three markets, while also examining its current footprint in of offices and considering the potential need to increase its presence based on market priorities.

There will be an increase in Tourism Ireland teams in the United States and Canada.

An expansion of the Government’s ‘Ireland House’ model is underway, whereby diplomats and State Agencies work under one roof. There are already Ireland House locations in New York, Tokyo, Singapore, Shanghai and Chicago – with plans to open similar facilities in London, Toronto, Lyon, Milan and Madrid.

It is aimed for trade missions, led by the Taoiseach, to restart in 2025 with multi-ministerial visit to Canada, while plans will be put in place for similar missions elsewhere in 2026 and 2027.

The Government’s St Patrick’s Day programme also features, where it states an “increased focus” on key priority and emerging markets.