#AWANITonight with @Hafiz_Marzukhi
1. U.S. agrees to formal trade talks, says Tengku Zafrul
2. Trump's tariffs: U.S. President to ease impact on American carmakers
#AWANIInternational #AWANINews
1. U.S. agrees to formal trade talks, says Tengku Zafrul
2. Trump's tariffs: U.S. President to ease impact on American carmakers
#AWANIInternational #AWANINews
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NewsTranscript
00:00Hello and good evening, you are watching Awani Tonight with me Hafiz Marzouki.
00:13Malaysia is postponing the expansion of its sales and services tax to provide temporary relief for
00:19manufacturers who are bracing for higher US tariffs. The planned expansion of the tax base
00:25originally due on May 1st will now be implemented at a later date.
00:32Manufacturers have previously urged the government not to add to their tax burdens
00:36after the US imposed a 24% tariff on Malaysian goods. Along with other Southeast Asian nations,
00:43Malaysia is seeking to negotiate a deal with Washington within the 90-day pause of higher
00:48tariffs mandated by President Donald Trump. In the meantime, Washington has imposed a 10%
00:54levy on goods from Malaysia and other trading partners. A spokesperson for the Finance
00:59Ministry said engagements with industries to finalise the scope and applicable tax rates for
01:04the planned expansion have been completed. They added that the guidelines are now being
01:08refined to ensure smooth implementation once the measures are introduced.
01:13Gazetement of the new tax changes is now scheduled for June 1st.
01:16The US has agreed to commence formal negotiations with Malaysia on the 24% tariff rate set to be imposed on
01:26the Malaysian imports, says Tengku Datuk Seri Zafro Tengku Abdul Aziz. The Investment Trade and
01:32Industry Minister says stocks will focus on reducing the tariff rate, addressing non-tariff barriers and trade
01:38imbalance between the two nations.
01:44Zafro said Miti has appointed its Deputy Secretary General for Trade, Masdora Ahmad Mustafa,
01:49as Malaysia's Chief Negotiator for the upcoming negotiations with the US.
01:54While the US has also named one of its Assistant United States Trade Representatives, or USDR,
01:59to lead the talks, with negotiations expected to commence soon after the signing of a
02:04non-disclosure agreement, or NDA, and the Cabinet approval is secured.
02:10Zafro said the talks aim to gradually reduce tariffs, not to zero, but to levels that benefit
02:15both sides, while also addressing non-tariff barriers and ways to ease them, particularly in agriculture.
02:23As for the trade imbalance, he noted that it has already been halved over the past four years,
02:28from over US$40 billion to US$25 billion, with the US pushing for further reductions.
02:36Following recent meetings with US officials in Washington, Zafro said discussions went smoothly.
02:42He also clarified that Malaysia did not request an extension after the end of the 90-day pause in negotiations.
02:52Canadian Prime Minister Mark Carney's Liberals retains power in the country's election.
02:57However, they fell short of the majority government he had wanted to help him negotiate
03:02tariffs with US President Donald Trump.
03:06The Liberals were leading, or elected, in 167 electoral districts, known as seats, followed
03:12by the Conservatives, with 145, with votes still being counted.
03:18The Liberals had needed to win 172 seats of the House of Commons, 343 seats, for a majority
03:25that would allow them to govern without support from a smaller party.
03:30Our old relationship with the United States, a relationship based on steadily increasing
03:40integration, is over.
03:43The system of open global trade, anchored by the United States, a system that Canada has relied
03:51on since the Second World War, a system that, while not perfect, has helped deliver prosperity
03:58for a country for decades, is over.
04:03These are tragedies, but it's also our new reality.
04:08We are over.
04:10We are over the shock of the American betrayal.
04:12But we should never forget the lessons.
04:15Like, you are going to take this forward.
04:18We have to look out for ourselves.
04:21When I sit down with President Trump, it will be to discuss the future economic and security
04:28relationship between two sovereign nations.
04:31And it will be, with our full knowledge, that we have many, many other options than the
04:44United States to build prosperity for all Canadians.
04:49The result kept a notable comeback for the Liberals, who had been 20 percentage points behind the
04:55polls in January, before Carney's predecessor, Justine Trudeau, announced he was quitting and
05:00Trump started threatening tariffs and annexation.
05:03The Liberals are the last party to win four consecutive elections in Canada, accomplishing
05:08the feat in 2004.
05:13In response to Carney's election win, China has signaled a willingness to improve relations
05:18with Canada.
05:19Foreign Ministry spokesperson Guo Jiakun said Beijing was open to developing ties based on
05:24mutual respect, equality and mutual benefit.
05:27While China stopped short of formally congratulating Carney, it emphasised that its stance on Canada
05:32remains consistent and clear.
05:35Relations between the two countries have been strained in recent years, following a series
05:39of disputes, including allegations of Chinese interference in Canada's 2019 and 2021 elections,
05:46which Beijing has denied.
05:49We'll go for a short break.
05:51Stay with us.
05:57Donald Trump will take action to reduce the impact of his tariffs on US carmakers, according
06:21to a White House official.
06:22The US President is set to announce measures to reduce some import duties on foreign parts
06:28that are used in vehicles manufactured in America.
06:33Although cars produced abroad would still be subject to automotive tariffs, they would not
06:38be hit with further levies, including those imposed on steel and aluminium products.
06:43The Wall Street Journal also reported that reimbursements would be given for such tariffs that were
06:48already paid.
06:49Trump is expected to announce his official plans later on Tuesday.
06:53The move to soften the effects of auto levies is the latest by his administration to show some
06:59flexibility on tariffs, which have sown turmoil in financial markets and created uncertainty
07:04for businesses.
07:06Trump had said earlier he planned to impose tariffs of 25% on auto parts no later than May 3rd.
07:12A coalition of US auto industry groups urged the President last week not to go ahead with
07:17his plan on imported auto parts, warning they would cut vehicle sales and raise prices.
07:25As President Donald Trump approaches the 100-day mark of his second term, public sentiment remains
07:31largely negative.
07:33Polls show Trump has the lowest approval ratings for a President at this stage in 80 years,
07:38if a majority of Americans dissatisfied with the current state of the economy and fear
07:44a looming recession.
07:45A Fox News poll found that voters oppose Trump's policies across most issues except
07:54border security.
07:55The New York Times reports a 53% disapproval rating, while a Washington Post-ABC News poll shows
08:0255% disapproved of his policies, with only 39% in support.
08:07In response, Trump has slashed out ad posters on his Truth Social account early Monday morning,
08:12calling them negative criminals and demanding they be investigated for election fraud.
08:16Earlier this month, the President sparked a stock market decline by announcing sweeping
08:21tariffs on nearly all US trading partners, a move economists warn could drive up consumer
08:27prices, contradicting his campaign promises.
08:30Meanwhile, the administration faces a wave of lawsuit and backlash over executive orders,
08:36particularly those targeting mass deportations and widespread federal job cuts, while Trump presses
08:42ahead with his immigration crackdown.
08:46U.S. President Donald Trump will mark his first 100 days in office with a rally in Michigan,
08:52his first since returning to the White House in January.
08:55He is scheduled to visit Macomb County later on Tuesday, a region just north of Detroit and
09:00near the Canadian border.
09:02Trump's campaign has described his upcoming speech as a celebration of the most successful
09:10first 100 days of any administration in history, citing actions he has taken to ramp up deportations,
09:17curb inflation and reduce federal spending.
09:20Michigan was one of the key battleground states Trump flipped from the Democrats in last year's
09:25November 5th election.
09:27The state is home to the so-called Detroit three car makers, Ford, General Motors and Stellantis.
09:32It also houses a network of more than 1,000 major suppliers to the automotive industry,
09:38which Trump has promised to support through tariffs on foreign-made imports.
09:42The U.S. Trade Representative, or USTR, has placed Mexico on its priority watch list for
09:50intellectual property or IP rights.
09:52The office cited persistent concerns of enforcement against trademark, counterfeiting, copyright piracy
09:59and inadequate protection of pharmaceutical-related IP and plant varieties.
10:05USTR's annual report, based on analysis of over 100 trading partners, now leases eight
10:13countries including Mexico, China, Chile, Argentina, India, Indonesia, Russia and Venezuela on the
10:21priority watch list for IP deficiencies and 18 others on the watch list.
10:26These findings could impact U.S. tariff and trade negotiations, especially under the Trump
10:31administration.
10:32In March, the U.S. imposed 25% tariffs on Mexico over its failure to halt fentanyl exports,
10:39mostly originating from China.
10:41Trade compliance with the USMCA is exempt, though duties on energy and potash remain at 10%.
10:47U.S. Trade Representative, Jameson Greer, said trading partners must address the concerns
10:53identified in the Special 301 report and stop those stealing the intellectual property of hard-working
10:58businesses and individuals.
11:02China state broadcaster CCTV reports that Guangzhou Port, the largest shipping hub in
11:07southern China, has opened a direct shipping route to Chiang Kai Port in Peru.
11:14This move will reduce logistics costs and bolster trade with Latin America.
11:18Chiang Kai, located north of Lima, has begun non-stop operations with Asia, accommodating South
11:28America's largest Pacific vessels.
11:30The direct route reaches Peru in about 30 days and reduces logistics costs by around 20%.
11:36The new route will accelerate the connection between Guangzhou-Nansha Port and Latin American
11:41ports such as Mexico's port of Manzanillo and Chile's port of San Antonio.
11:46The announcement comes as Beijing seeks to deepen ties with resource-rich Latin America amid ongoing
11:52trade tensions with the United States.
11:55Chiang Kai Ports' first phase, a US$1.4 billion project led by China's Costco, was inaugurated in
12:02November during the APEC summit in Lima by Peruvian President Dina Boluarte and Chinese President Xi Jinping.
12:08China is expected to invest billions more as it works with Lima to position Chiang Kai as
12:13a major shipping hub between Asia and South America.
12:18China will not dump its goods in other countries despite its trade and tariff tensions with the
12:24US.
12:25Beijing's Ambassador to India, Sufe Hong, writes this as he addresses concerns about potential
12:31influx of cheap Chinese products flooding other markets.
12:35The trade war between China and US has raised concerns that Chinese firms may divert goods
12:44to other markets, hitting competitiveness of exports from other countries.
12:49Since US President Donald Trump took office, China and the US have imposed tariffs over 100%
12:55on each other's goods, rattling global markets.
12:57Last week, India, the worst second-largest producer of crude steel, imposed a 12% safeguard
13:04duty on some steel imports to curb a surge of cheap shipments, primarily from China.
13:10This influx of Chinese steel has forced some Indian mills to reduce operations and consider
13:15job cuts.
13:16India is among several countries taking steps to protect local industries.
13:20After a 2020 border clash source relations, India restricted Chinese investments.
13:25However, both nations are working to rebuild ties with Chinese President Xi Jinping, urging
13:30closer cooperation with Indian President Jhupadi Murmu this month as they exchange congratulatory
13:36messages celebrating the 75th anniversary of their diplomatic relations.
13:40Now that report wraps up Awani tonight.
13:46Check out our web portal, keeping you informed on the critical events shaping our world all
13:52in one place at international.astroawani.com.
13:57That's all for now.
13:58I'm Hafiz Marzouki.
13:59Thanks for watching and good night.