Ireland will feel the effects of US tariffs - even before they are imposed on European Union goods, according to a trade expert.
Following weeks of threats, the US this week introduced tariffs on goods from Canada, Mexico and China. It prompted an immediate response from Canada, with Mexico and China also mulling retaliation.
US President Donald Trump has promised to raise tariffs on EU goods "soon" - but his trade policy is likely to have an impact here before that happens.
"This is a global issue - it's not confined directly to the US," said John O'Loughlin, Partner for Global Trade and Customs with PwC Ireland.
"If we even think about Irish-headquartered companies - the supply chains are very fluid, you've products moving across international borders, north and south into the US on a regular basis, and products moving back and forth between the EU and US," he said.
"So this has to be looked at in a very holistic way - it's not isolated to the three countries where tariffs have been imposed at the moment," he added.
The US will introduce tariffs on steel and aluminium from all countries next week - though it may take more time for more specific measures to be introduced on EU goods. When that happens, though, the effect will be felt immediately.
"The tariffs will come into effect on a particular day and it is literally overnight," he said. "Transactions or shipments that come in from that day or date, they get levied from that date onwards."
We have been here before - as the US imposed tariffs on EU goods during President Trump's first term. In that case European leaders were somewhat slow to respond - but Mr O'Loughlin expects a far faster and more coordinated reaction this time around.
He likens it to a game of chess, with the EU waiting for the US to make their move, and then tailoring their response based on that.
"They're a little bit more prepared this time around... [their response] will probably take effect one or two weeks after the Trump administration put in their tariffs," he said. "It's inevitable that if President Trump imposes tariffs on Europe, Europe will react."
For companies here, though, it is largely a waiting game - as they look to see the exact scale and shape of the measures that will be introduced. The fact that there has been a constant moving of the goalposts in terms of what is planned is also complicating matters.
"There's a lot of uncertainty in the market at the moment," he said. "Companies are really struggling with the amount of data coming through - like the change we saw overnight, a reversal of the automotive tariffs and a temporary stay of execution.
"I think we're going to see more of this stop-start, particularly in the short term."
