The US was both the largest export and import market for Irish goods in January

Minister for Public Expenditure Jack Chambers acknowledged Ireland was vulnerable to any tariffs

Peter Burke also said there was a plan in place to deal with any possible US tariffs on the Irish pharmaceutical sector.

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The AIB S&P Global manufacturing Purchasing Managers' Index improved to 49.5 last month

From Wednesday, Great Britain will ask for the pre-lodgement of customs declarations and the pre-notification of agri-food exports.

Contingency plans are in place to manage traffic at Dublin port on January 31st in case exporters are not prepared.