Wednesday, 17 Jul 2024

U.S.-China trade tensions will create "domino effect": Malaysia PM

SINGAPORE (Reuters) – Trade tensions between the United States and China will create a “domino effect” and prompt other countries to turn protectionist, Malaysian Prime Minister Mahathir Mohamad said on Tuesday.

Speaking at the Association of South East Asian Nations (ASEAN) Business and Investment Summit in Singapore, Mahathir said other developed countries will follow the footsteps of the United States and China by imposing protectionist measures against developing countries, like ASEAN member states.

“The trade tension between the two world powers is bound to create a domino effect that will affect trade reactions and will be a reason for other developed countries to adopt protective measures against developing countries, including the ASEAN countries,” Mahathir said.

“This is not the time to close our doors by invoking

trade protectionism measures,” he added.

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