Former Malaysian Prime Minister Mahathir Mohamad says US President Donald Trump’s tariff policies have pushed the United States toward international isolation and could end up harming the American economy more than its trading partners.
Speaking at the “Future of Asia” conference in Tokyo, the 99-year-old statesman noted that the introduction of broad retaliatory tariffs in April has strained Washington’s relationships with many countries. “These measures have made the whole world an adversary of the United States,” Mahathir told Nikkei Asia, adding that the economic impact is likely to fall disproportionately on American consumers due to the country's reliance on imported goods, including semiconductors.
He predicted that the tariffs would need to be reversed within three months.
Mahathir also expressed concern over the US dollar’s outsized role in the global financial system, stating that it grants Washington “too much power.” He advocated for moving toward a gold-backed international currency used solely for trade, as an alternative to reliance on the dollar.
Meanwhile, the US Court of International Trade on Wednesday blocked implementation of the new tariff package, ruling that the president had exceeded his authority. The decision affects both the April 2 tariffs on imports from 185 countries and earlier measures targeting Canada, China, and Mexico. However, tariffs on automobiles, steel, and aluminum remain unaffected. On Thursday, an appeals court temporarily paused the lower court's ruling.
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Photo: HOW HWEE YOUNG\EPA\TASS
Based on TASS materials