Irish exports to the US worth around €362.6m annually are facing extra tariffs following last week's decision by the US government to apply extra levies following a World Trade Organisation ruling.

According to the Minister for Business, Enterprise and Innovation, Ireland sold goods worth approximately €39.27 billion into the US in 2018.

Heather Humphreys estimates that €362.6m worth of those goods would be impacted by the new tariffs.

This would include liqueurs and cordials valued at €168.5m, butter worth €156.8m and cheddar cheese costing €37.3m.

The products will attract an additional 25% tariff on entry into the US, according to the department's response to a parliamentary question from Fianna Fail's finance spokesman, Michael McGrath.

"My Department continues to engage with industry to fully understand the potential impacts these measures will have," the Minister said.

"We are also fully engaged with colleagues in the Department of Agriculture, Food and the Marine and our Enterprise Agencies in relation to the implications for Irish business."  

The World Trade Organization authorised the US to impose duties on $7.5bn worth of European goods after it decided that the EU failed to end subsidies for Airbus.

The US Trade Representative's Office last week released the list of hundreds of European products that will be subjected to new tariffs in retaliation.

The new charges will take effect from 18 October and are likely to hit well-known Irish brands such as Baileys and Kerrygold.

Irish whiskey made in Northern Ireland is on the list of products but Irish whiskey made in the Republic of Ireland has been spared.

The news was greeted with concern by Irish food and drink producers.

The EU is pushing for tariffs of around $10 billion on American goods in a parallel process to be decided by the WTO early next year.

Minister Humphreys said that Ireland continues to be engaged with the European Commission on the issue and that she had raised it at a recent meeting of the EU Council of Trade Ministers' and a meeting with Trade Commissioner-elect Phil Hogan.

"The imposition of these tariffs is a significant setback for the sectors affected and will make the products concerned far less competitive in the key US market," said Mr McGrath.

"We have seen rising tensions in global trade in recent times and as a small, open economy, Ireland is especially vulnerable when any form of trade sanctions are imposed. The government here needs to use all diplomatic channels at its disposal to ensure these tariffs are short lived.'

The US is Ireland's largest goods export market, accounting for 28% of total goods exports in 2018.