World 'cannot afford' trade war, says Taoiseach who tells economic summit 'values matter'

It comes after the US president Donald Trump said that a 50% tariff on goods from the EU will be delayed

Micheál Martin said: 'Tariffs are not good for our economy, for the world economy and for our consumers.' Photo: Leah Farrell/© RollingNews.ie

The world "cannot afford" a trade war, Taoiseach Micheál Martin has said as Donald Trump's latest u-turn on tariffs was welcomed in Europe.

The announcement today from the US president that a 50% tariff on goods from the EU will be delayed follows contact with European Commission president Ursula von der Leyen as well as the discussions on Friday between Commissioner Maroš Šefčovič and his US counterparts.