#AWANITonight with @fayekwan_
1. Trump’s tariffs: M’sia to begin trade talks with officials in Washington
2. Beijing denies rumours of ongoing negotiations with U.S.
#AWANIInternational #AWANINews
1. Trump’s tariffs: M’sia to begin trade talks with officials in Washington
2. Beijing denies rumours of ongoing negotiations with U.S.
#AWANIInternational #AWANINews
Category
🗞
NewsTranscript
00:00Good evening, you're watching Awani tonight with me, Fei Kuan.
00:11Investment Trade and Industry Minister Tengku Datuk Sri Zafrul Abdul Aziz
00:15is set to kick off crucial negotiations later tonight in Washington.
00:19Talks that could shape the trajectory of Malaysia's economic partnerships.
00:23Now as anticipation builds, all eyes are on the outcomes and signals from these high-stakes discussions.
00:29We now head to Washington where our correspondent Shaf Shukri is standing by.
00:33Shaf, what's the atmosphere like ahead of these pivotal talks
00:37and what should be the key priorities for Malaysia as it enters the negotiation room?
00:43Well, the atmosphere here in Washington is a mix of anticipation and quite intensity.
00:49Delegations from several countries are in town, each hoping to carve out their own space
00:54in what many see as a recalibration of America's trade relationships.
01:01But for Malaysia, this round of negotiations is particularly consequential,
01:07not just for our trade balance with the US, but for the long-term credibility of Malaysia
01:13as a competitive, cooperative and a forward-looking economic partner.
01:20So today, as Minister Tengku Zafrul prepares to enter the negotiation room later today,
01:29Malaysia's priorities should be focused but also flexible.
01:33First and foremost, we need to present ourselves not as a part of the problem,
01:38but as part of the solution.
01:41Malaysia already maintains a relatively low tariff, an average of just 5.6%.
01:48And we've been proactive in addressing non-tariff barriers through regulatory reforms
01:55that enhance the ease of doing business.
01:58And secondly, it's crucial that Malaysia position itself as a distinct and strategic player in this crowded space.
02:09With multiple countries currently lobbying the US for tariff relief or exemptions,
02:16the Malaysian delegation must highlight our unique strength,
02:20including our role in the global semiconductor supply chain,
02:25the strong presence of the US companies already operations in Malaysia
02:30and our broader commitment to economic openness and policy consistency.
02:37And these are not just trade advantages.
02:40They are trust markers.
02:43So finally, one of the key objectives in the meeting and negotiation should be
02:51to push for clarity and stability, businesses, both American and Malaysian,
02:58I believe, are watching closely, especially in the 90-day pause
03:03on a reciprocal tariff set to expire on the July 9th.
03:08And this talk offers an important window for Malaysia to shape the narrative,
03:14influence decision-makers and mitigate the risk of trade uncertainty.
03:20So I guess while expectations are high, the strategy here is about a substance over spectacles
03:30and also offering meaningful solutions and demonstrating Malaysia's readiness
03:36to be a long-term reliable partner in a more complex global economy.
03:42So that's the scene here in Washington for now.
03:47And of course, we'll be tracking developments closely as the talks unfold over the next few hours.
03:54So back to you in the studio.
04:04China has denied reports that it is engaging in trade talks with US President Donald Trump's administration.
04:10Beijing's Commerce Ministry also described any claims of progress or ongoing negotiations as fake news.
04:17According to the ministry, the two sides were far from reaching an agreement.
04:24It said that any genuine resolution would require the US to abolish all unilateral tariffs on China
04:30and engage in equal dialogue.
04:33Trump has suggested he would reconsider the high tariffs he levied on Chinese goods
04:37since the start of his second term.
04:39He also claimed senior officials from Beijing had been in contact with his administration
04:44to review trade discussions.
04:48There's an opportunity for a big deal between the US and China on trade,
04:53says US Treasury Secretary Scott Besant.
04:55He, however, stresses that China must undergo significant economic adjustments,
05:00describing Beijing's export-driven strategy as unsustainable and harmful to the global economy.
05:07What I have said previously, there is an opportunity for a big deal here.
05:14That the US is looking to rebalance two more manufacturing.
05:19The identity of that would be less consumption.
05:23If China is serious on less dependence on export-led manufacturing growth
05:30and a rebalancing toward a domestic economy,
05:36I think they use the term dual circulation.
05:38Well, right now it's really singular circulation.
05:43And if they want to rebalance, let's do it together.
05:47This is an incredible opportunity.
05:50I think if Bridgewater founder Ray Dalio were to write something,
05:55he could call it a beautiful rebalancing.
05:58Commenting on the current high tariffs between the US and China,
06:02Besant said they were unsustainable and must be reduced for trade talks to move forward.
06:06While Donald Trump is open to lowering tariffs,
06:09currently at 145% on Chinese goods and 125% on US products,
06:16Besant said the US president was unlikely to act unilaterally.
06:20He also suggested that more clarity on Trump's tariff levels
06:23could come by the third quarter of this year.
06:25Prices are rising and economic activity is slowing in parts of the US
06:32as businesses and households adjust to President Donald Trump's sweeping tariffs.
06:37That's according to the Federal Reserve's latest Beige book, released on Wednesday,
06:42which painted a picture of growing uncertainty around international trade policy,
06:46describing the situation as pervasive.
06:48The report captures early fallout from the tariffs,
06:55with firms scrambling to adapt and pulling back on major investments,
06:58amid what some call chaotic conditions.
07:01Most regions reported rising prices,
07:03with many companies already warned by suppliers of looming cost hikes,
07:08most of which will be passed on to consumers.
07:10Some districts even hinted at potential layoffs on the horizon.
07:14The release comes as President Trump intensifies his attacks on Fed Chair Jerome Powell,
07:20demanding rate cuts to boost the economy.
07:22But Powell and his team had cautioned that tariffs could trigger both higher inflation and slower growth,
07:27a tricky mix, as interest rates can only target one problem at a time.
07:32Financial markets are now eyeing a possible rate cut by June.
07:36The Fed's next meeting is set for May 6th and 7th,
07:39with expectations that rates will hold steady for now at 4.25% to 4.5%.
07:45The Beige book, issued eight times a year,
07:48offers a snapshot of the nation's economy based on reports from the Fed's 12 regional banks.
07:56We'll be back with more after the break. Stay tuned.
07:58Welcome back.
08:15U.S. planemaker Boeing confirms that its Chinese customers
08:19are refusing delivery of new planes built for them due to the latest U.S. tariffs.
08:24This comes as a third Boeing jet began its return to the U.S. today.
08:28CEO Kelly Ortberg confirmed many Chinese airlines were not accepting deliveries
08:36as retaliatory tariffs now apply to U.S.-made aircrafts.
08:40Before President Donald Trump's global trade offensive,
08:43commercial jets were traded duty-free worldwide
08:45under a 1979 civil aviation agreement.
08:49Chinese airlines taking delivery of a Boeing jet
08:52could face steep retaliatory tariffs imposed by Beijing on the import of U.S. goods.
08:57with a new 737 MAX worth around US$55 million, according to Aviation Consultancy IBA.
09:05Flight data showed two 737 MAX 8s sent to China for Xiamen Airlines
09:10have returned to Boeing's Seattle production hub,
09:13while a third left Zhoushan from Guam on Thursday.
09:16The plane was initially built for National Carrier Air China
09:19and was sent from Seattle on April 5th,
09:22shortly after Trump first announced his reciprocal tariffs
09:25that led to Beijing ramping up its own levies on American goods.
09:29Boeing CFO Brian West said the company had planned to deliver around 50 planes to China this year,
09:35but is now exploring options to remarket 41 already built or in process.
09:39Meanwhile, Chinese President Xi Jinping calls for multilateralism,
09:46global cooperation and people-centred green transformation to tackle the climate crisis.
09:52Marking the 10th anniversary of the Paris Agreement
09:54and the 80th anniversary of the United Nations,
09:58Xi says humanity stands at a new crossroads
10:00amid rapid global changes and rising protectionism.
10:04Xi outlined key principles to guide future climate efforts,
10:10focusing on the importance of upholding multilateralism,
10:14international law and the UN-centred global order.
10:17He called for a deeper international cooperation,
10:20highlighting the need for inclusivity and the free flow of green technologies,
10:24while pledging China's continued support for developing countries,
10:27especially through South-South cooperation.
10:30He also urged countries to take concrete, results-driven actions,
10:34to meet their climate pledges,
10:35calling on developed nations to assist developing countries
10:38in shifting towards low-carbon development.
10:41China is set to unveil its 2035 climate targets
10:44before the upcoming UN Climate Change Conference in Brazil,
10:48reaffirming its commitment to climate leadership,
10:51green development and global solidarity.
10:55China and Kenya announced an upgrade in ties
10:59during a meeting between President Xi Jinping
11:01and Kenyan President William Ruto in Beijing.
11:04with both pledging to build an all-weather China-Africa community.
11:08In a joint statement, both countries pledged to strengthen solidarity,
11:12defend the multilateral system
11:14and advance the interests of developing countries
11:16through inclusive global cooperation.
11:19The two leaders signed 20 agreements spanning science and technology,
11:25vocational education, water resources, e-commerce,
11:29intelligence support systems and the railway sector.
11:32Africa is a key focus of Xi's ambitious Belt and Road Initiative, or BRI,
11:37with Kenya being a major recipient.
11:40Nairobi is also China's top bilateral lender,
11:43with the latter having financed major infrastructure projects,
11:46including a modern railway line from the port of Mombasa into the hinterland.
11:51Despite Kenya's mounting debt,
11:52Ruto reaffirmed his commitment to meeting financial obligations
11:56while seeking additional funds to expand infrastructure.
11:59He has vowed to manage the debt responsibly
12:01by cutting waste and increasing revenue.
12:04In other news, Nissan Motor will invest 10 billion yuan,
12:09or 1.4 billion US dollars,
12:12into China by the end of 2026.
12:14The Japanese carmaker plans to roll out new models
12:18in a bid to mount a comeback in the world's biggest auto market.
12:22Chief of Nissan's China operations, Stephen Ma,
12:25revealed the move at the Shanghai International Automobile Industry Exhibition.
12:29Acknowledging the rapid pace of change in China's auto market,
12:33he believed Nissan's operations have been reset.
12:37According to Ma,
12:37Nissan plans to launch 10 new energy vehicles in the country by the summer of 2027,
12:43up from a previous commitment
12:44to roll out eight such vehicles by the end of next year.
12:48Nissan sold fewer than 700,000 vehicles in China in 2024,
12:53less than half of what it sold in just four years earlier.
12:56Japan's third-largest automaker had to scale back its global sales forecast
13:00for the fiscal year ended last month,
13:03citing ongoing struggles in China, its second-largest market.
13:08That report wraps up Awani tonight.
13:11Check out our web portal,
13:12keeping you informed on the critical events shaping our world,
13:16all in one place at international.astroawani.com.
13:20That's all for now.
13:21I'm Fei Kuan.
13:22Thank you for watching and good night.
13:33You