- Malaysia to led ASEAN to pose a united front in negotiating with the US
- University Malaya to open a new campus in China
- Stock markets globally in the red following Trump’s tariff announcement
IN Malaysia
PM Anwar: Malaysia will not be in a recession
PM Anwar Ibrahim said that despite being slapped with a 24% tariff, the country will not face a recession. However, Malaysia’s 5.5% growth forecast for the year needs to be reviewed as PM Anwar is labelling the tariff as a ‘major threat’ to the current global trade and investment system. As most countries have been responding with retaliatory tariffs against Trump’s reciprocal tariffs, the country will discard the ‘retaliatory tariffs’ option and instead resort to diplomatic channels in actively engaging with US authorities to seek solutions that uphold the spirit of free and fair trade. The National Geoeconomic Command Centre (NGCC), recently approved by the Cabinet, will assess the impact of the US announcement and explore a comprehensive, multi-pronged strategy to mitigate the effects of these tariffs on the economy and industries. According to Malaysia External Trade Development Corporation (MATRADE), in 2024, out of the RM1.508 tril worth of goods exported to the global market, 13.2% of them went to the US, making the US the second largest export market for Malaysia, after Singapore.
PM Anwar Ibrahim also added that as the ASEAN chair, he will consult with his ASEAN counterparts to present a united regional front against the US. Both Singapore and Indonesia have also agreed not to impose retaliatory tariffs on the US and will instead negotiate and engage the US.
In another related news, to uno reverse US President Donald Trump’s fake news, Trade Minister Tengku Zafrul Abdul Aziz lambasted the US’ claim that Malaysia imposed a high double-digit tariff on American exports. Instead of a 47% tariff whistled by the US, Malaysia only slapped a 5.6% tariff on American goods coming into the country. Putrajaya believed that the Trump administration may have used AI to determine its tariff formula, as multiple users found that platforms such as ChatGPT would provide an identical formula when questioned on how to calculate reciprocal tariffs. Hmm I think even the US President also cheats his way in completing his assignments.
Source: https://m.malaysiakini.com/news/739359
Shorts
- Malaysia’s oldest and highest-ranked university, Universiti Malaya (UM) will be opening its first overseas branch next year in Shandong province, China. According to UM’s vice-chancellor, Prof Dr Noor Azuan Abu Osman, the establishment of the new campus is to leverage China’s economic and technological strengths. Shandong province was chosen among many other locations because of the fact that Shandong was among the top three provinces in China that had the highest GDP in 2024 and the Shandong provincial government is committed to providing financial and infrastructure support in creating the new campus.
Source: https://www.thestar.com.my/news/nation/2025/04/06/um-to-open-china-campus
- Via a video conference call, PM Anwar congratulated his Syrian counterpart, President Ahmed al-Sharaa on the formation of Syria’s new government. On March 29, Syria officially announced its new Cabinet line-up, with al-Sharaa affirming the government’s commitment to rebuilding national institutions based on accountability and transparency. Al-Sharaa also invited PM Anwar to visit the country, which has previously been suffering under the dictatorship rule of former President Bashar al-Assad for nearly 25 years.
Around the S.E.A.
How did the global market react to the new tariff? – Not good
- Stock markets crashed and burnt – All stock markets from the mighty China to Singapore suffered substantial losses with the Shanghai Composite down more than 8% at one point, Hong Kong’s Hang Seng dropping more than 13% and Japan’s Nikkei 225 closing down by 7.8%. According to the Asia Pacific chief economist at investment firm Vanguard, Qian Wang, “Asia is bearing the brunt of the US tariff hike. While there could be some room for negotiation, a new regime of higher tariffs is here to stay.” As the US counts towards Asia for its manufactured goods needs, the domino effect of the tariffs will eventually lead to a US recession. Goldman Sachs now forecasts there is a 45% chance the US will fall into recession in the next 12 months – up from a previous estimate of 35%.
- China has weaponised rare earth commodity – In response to Trump’s new tariff, Beijing decided to expand its use of critical minerals as a trade weapon with curbs on exports of rare earths. This will pose a major risk to the global market as China accounts for almost 70% of the world’s production of rare earths and the commodities are key materials used widely in high-tech manufacturing from electric vehicles to weaponry. The latest export controls are not a blanket ban, but they mean that any overseas shipments will be subject to greater scrutiny over who is buying, and why. Perhaps down the road, if the US continue to increase its tariff and China continue to merajuk, we may see our world return back to the Flinstones age, where our EVs will be run manually using our legs and our fighter jets shooting arrows instead of missiles.
- Indonesia to resort to tourism – Indonesian Minister of Tourism Widiyanti Putri Wardhana stated that its tourism industry can serve as an economic safety net in the face of the 32% tariff announced by Trump to the country. Widiyanti said that the tourism sector, classified as a service industry, is not subject to such tariffs and continues to generate foreign exchange. By attracting more foreign visitors, the country will be able to maintain the stability of the IDR and foreign exchange reserve. In 2023, the country’s tourism industry accounted for 4.1% of GDP, generating a total revenue of USD14.63 bil. In comparison, Thailand, a country well known as a popular tourist destination, generated a bounty of USD35 bil and accounts for about 12% of the Thai economy.
For your EYES only
Not only humans are shocked by Trump’s new tariff, but the Earth also is shooketh. On Sunday, the island of Java, Indonesia was struck by a 5.1 magnitude earthquake. Not only in Indonesia, but on Monday morning, the northern Thailand province of Mae Hong Son was also hit by a 3.8 magnitude eartquake. Fortunately, both earthquakes did not pose any tsunami threat. Okay fine Trump, we admit that you are the alpha male. Can we put a pause on your antics because even the Earth also takut with you.
