Japanese economist warns Trump's tariff hikes will backfire on U.S. economy

A Japanese economist warned that the recent tariff hikes imposed under Donald Trump's administration will disrupt the global economy and ultimately backfire on the U.S.

In an interview with China Media Group (CMG), Sakai Shozaburo, former Chancellor and President of Chuo University, explained that the U.S. developed a finance-driven tertiary industry as part of its economic strategy to establish a dollar-based global financial system. As a result, the country's manufacturing sector gradually declined, a shift that he emphasized was driven by domestic policy decisions, not external influences.

"The U.S. tariffs will lead to a sharp rise in prices, and the economic situation in the United States will deteriorate. Moreover, with fixed purchasing power, any increase in costs will inevitably lead to a decrease in consumption. Simply put, goods will not sell. As a result, prices will rise, but goods will remain unsold, leading to stagflation, a phenomenon in economics," said Sakai. Sakai also warned that U.S. tariffs pose a significant threat to the country's GDP growth.

"[U.S. tariffs] will certainly be opposed by all countries around the world, and they will eventually backfire on the U.S. From an overall economic perspective, prices will rise, which can be described as self-destructive behavior. It also poses a very serious challenge to the growth of U.S. GDP," he said.

Japanese economist warns Trump's tariff hikes will backfire on U.S. economy

Japanese economist warns Trump's tariff hikes will backfire on U.S. economy

Japanese economist warns Trump's tariff hikes will backfire on U.S. economy

Japanese economist warns Trump's tariff hikes will backfire on U.S. economy

Venezuela's acting president Delcy Rodriguez said on Sunday that the country is at a critical stage and must achieve national unity, emphasizing that maintaining internal cohesion is of utmost importance.

In a televised address, Rodriguez called on the public to continue trusting the government under the current highly complex political circumstances.

Her statement comes in the wake of a January 3 military operation conducted by the United States, during which Venezuelan President Nicolas Maduro and his wife were taken into custody and flown out of the country.

The operation resulted in at least 100 fatalities.

Rodriguez, who was sworn in as acting president two days later on January 5, framed her appeal for unity against this backdrop of external intervention.

Meanwhile, Venezuelan Minister of Communication and Information Freddy Nanez denounced the U.S. actions as a "war crime of the 21st century" when speaking at an international cultural event on Sunday.

Nanez condemned not only the January 3 airstrikes but also the associated cyber and electromagnetic attacks.

He accused the United States of violating international law through the forced removal of President Maduro and his wife, while attacks on civilian infrastructure, including medical facilities, represent a flagrant breach of humanitarian norms.

He reiterated that the stigmatization and military attacks against Venezuela are driven by economic interests, particularly the desire to control its abundant natural resources.

Venezuelan acting president calls for national unity amid complex situation