US tariffs of 200pc on pharma could lead to shortages of medicine
'Tariffs of that scale would damage the companies, would everybody but would damage the companies as well,' he said at Farmleigh.
'Never forget, the companies have become strong, US companies have become strong because of access to a lucrative European market. They are leaders in the European Union market.
'One has to be extremely careful of disrupting existing supply chains that could result in shortage of medicines but also could undermine the companies themselves and their strength.
The US president said in recent days how drug-makers will have around one year "to get their act together' before they are tariffed as high as 200pc.
Mr Martin said on the table is an 'agreement in principle' deal.
'We didn't want tariffs, Europe didn't go looking for tariffs, we believe tariffs are injurious to economy and does damage,' said the Taoiseach.
He was speaking after meeting Lithuanian president Gitanas Nauseda, who warned it is 'impossible to win the trade war'.
'An escalation, or a trade war, as Gitanas said, would be very, very damaging indeed to everybody. We have to think of workers, we have to think of citizens,' said Mr Martin.
President Nauseda said he hopes a 'good deal' can be reached through 'consensus'.
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The Taoiseach also warned how Russia is a threat to European security.
'Notwithstanding our geographic location, that we do have an appreciation of the extension of the threats and also the ongoing misinformation campaigns perpetrated by Russia,' said the Taoiseach.
He said Russia is re-arming at an 'alarming rate' and is 'manufacturing at an extraordinary pace'.
'[This] represents a threat to European security, not just Ukraine but European security more broadly and the situation is very concerning. We in Ireland need ot be aware of the wider picture, Irish people do.'
The Lithuanian president said it his 'task' is to use every chance to explain the security situation in Ukraine as well as the eastern flank of Europe.
'Right now, you can only impose peace on Russia because otherwise, negotiations without any signs of strength, that does not encourage Russia to start peace negotiations,' said the president.
'The efficiency of our sanctions is only in that case if we do it together, United States, United Kingdom, Europe, other like minded countries, have to stand together by imposing sanctions on Russia.'
The president is in Ireland for a state visit and met the Taoiseach and his wife Mary at Farmleigh this evening, where he was joined by his wife Diana Nausediene.
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