EXCLUSIVE: The European Union risks 'trade war' with Malaysia over its 'grossly unfair' policies aimed at reducing the use of palm oil - Prime Minister Mahathir Mohamad by AnanthalakshmiA jjsipalan joebrock2
LANGKAWI - The European Union risks opening up a trade war with Malaysia over its “grossly unfair” policies aimed at reducing the use of palm oil, Prime Minister Mahathir Mohamad said on Thursday.
Malaysia, the world’s second biggest palm oil producer after Indonesia, relies on the crop for billions of dollars in foreign exchange earnings and hundreds of thousands of jobs. “Trade wars are not something we like to promote but on the other hand it is grossly unfair for rich people to try and impoverish poor people.”
Najib is due in court next week in the first trial relating to 1MDB. He has pleaded not guilty and denies wrongdoing. Mahathir said his government was also in talks with the U.S. Department of Justice over Goldman Sachs. In an effort to reduce Malaysia’s debt after the 1MDB scandal, Mahathir is considering the listing or sale of stakes in state-owned enterprises, including Malaysia Airlines.
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