There will be no winner in the US’ sweeping global tariffs and similar responses from other countries, and the only way forward is through negotiation to minimise the damage, said a former Bank Negara Malaysia assistant governor.

Andrew Sheng explained that the disagreement between US President Donald Trump's trade adviser, Peter Navarro, and business tycoon Elon Musk highlights the controversy surrounding the tariff issue, both within the US and internationally.

“The key issue is...