#AWANITonight with Farhana Sheikh
- Trade war: China warns against striking deals with U.S.
- JS-SEZ plays crucial role in global supply chain - MITI Minister
- Trade war: China warns against striking deals with U.S.
- JS-SEZ plays crucial role in global supply chain - MITI Minister
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NewsTranscript
00:00Good evening, you're watching Awani tonight with me, Farhana Sheh.
00:20Amid shifting global trade dynamics, Malaysia will continue addressing issues multilaterally
00:26through ASEAN and other platforms, while also engaging directly with the U.S.
00:32Investment Trade and Industry Minister Tengku Datuk Sri Zafrul Tengku Abdul Aziz says
00:37Malaysia and Singapore, as key trading nations, play a crucial role in the global supply chain,
00:43with the Johor-Singapore Special Economic Zone strategically positioned to support key industries.
00:51We understand that each country in ASEAN will have its own challenges.
00:55We should have its own concerns, so we will approach this both at the multilateral platforms
01:03through ASEAN and other platforms that are available, that we are members of.
01:09And at the same time, bilaterally, we also continue to engage the U.S.
01:14I think it's important for countries like Malaysia and Singapore, which is very much involved
01:20in the critical part of the global supply chain, and after all, we are an open economy.
01:26We are a very trading nation as well.
01:29So, again, this is where, you know, JS as a exec is important, because we are in a geographical location
01:36where that supply chain that is supporting many industries will pass through this area.
01:47And I think it's important that we continue to highlight this to all our partners, including the United States,
01:54of how Malaysia, Singapore, JSEZ, ASEAN, all can play an important role in supporting the global supply chain.
02:04And it is actually, and will benefit the world, and definitely will benefit the United States as well.
02:12He said this during his keynote address at the inaugural JSSEZ Joint Business and Investment Forum
02:18in Persada Johor, Johor Bahru, today.
02:21Zafrol and Second Finance Minister Datuk Shri Amir Hamza Azizan will head for Washington, D.C. tonight
02:26and are scheduled to meet the U.S. Trade Representative and other stakeholders on April 2
02:31to discuss the United States' reciprocal tariffs.
02:35Meanwhile, Maybank Group President and CEO Datuk Harus Saleh Ramli agrees that the JSSEZ presents
02:42strong potential to boost trade and investment in the region.
02:46He highlights its role in strengthening intra-ASEAN trade amid a challenging global tariff landscape.
02:53We believe this Johor, Singapore, special economy zone is a long-term thing.
02:58And given that we believe in the formula of this, it's a win-win situation,
03:04we believe that there's a huge opportunity to focus on, say, intra-ASEAN trade.
03:10You know, intra-ASEAN trade is only about 23% now, total trade by ASEAN countries.
03:16So that alone, you know, it's got a lot of prospects.
03:20Yes, there is this volatility, challenges, uncertainties that we're seeing arising from the
03:26reciprocal tariff that's been imposed by U.S.
03:29But, you know, when we talk to people, when people talk to me, I say, you know, no one knows what's the outcome.
03:35But we need to be able to then look at what we can control, perhaps.
03:39What we can control, perhaps, is about intra-ASEAN trade and maybe pivoting towards, you know,
03:45more other bilateral trades, you know, beyond what we have now to make sure that, you know,
03:50we can have a sustainable pool of trade and investment that we can attract in GSSZ.
04:05China warns it will retaliate against countries that cooperate with the U.S.
04:10in ways that hurt Beijing's interests.
04:13This comes after reports that Washington plans to pressure governments to restrict trade with China
04:19in exchange for exemptions to its reciprocal tariffs.
04:24In a statement, the Chinese Ministry of Commerce said it would take reciprocal countermeasures
04:29against any party that reach a deal with the U.S. at the expense of Beijing.
04:34It added that China was willing to work with all parties to defend international justice
04:39while accusing the U.S. of bullying and abusing tariffs.
04:42The Trump administration has kicked off talks with trading partners over tariffs.
04:48A Japanese delegation visited Washington last week
04:51and South Korea is set to begin negotiations later this week.
04:55Trump has paused major tariff hikes on other countries for 90 days earlier this month,
05:00while further raising duties on goods from China to 145%.
05:05While analysts do not predict the U.S. and China to strike a deal anytime soon,
05:10Trump has said he expects an agreement to be reached within the next month.
05:14The president also claimed that more than 70 countries have reached out for discussions
05:19since his tariffs were announced.
05:24A second Boeing jet intended for use by a Chinese airline was heading back to the U.S. on Monday,
05:31according to a flight tracking data.
05:33This appeared to be another victim of the tit-for-tat bilateral tariffs launched by U.S. President Donald Trump
05:40in his global trade offensive.
05:44The 737 MAX 8 landed in the U.S. territory of Guam on last Monday,
05:50after leaving Boeing's Zhoshan completion center near Shanghai,
05:53according to the data from flight tracking website RNF Radar.
05:57On Sunday, a 737 MAX painted with China's Xiamen Airlines livery was returned to Seattle Boeing Field.
06:04A spokesperson for Xiamen Airlines confirmed that two planes marked for the carrier had gone to the U.S.,
06:10but declined to provide a reason.
06:12It is not clear which party made the decision for the two aircrafts to return to the U.S.
06:17Trump this month raised baseline tariffs on Chinese imports to 145%.
06:22In retaliation, China has imposed a 125% tariff on U.S. goods.
06:29Tariffs could cripple Chinese airlines with each 737 MAX worth around US$55 million,
06:35according to IBA and Aviation Consultancy.
06:38The return of Boeing's 737 MAX jets signals growing disruption to aircraft deliveries
06:43as tariffs end the industry's long-duty-free status.
06:46Boeing, still recovering from a five-year import freeze,
06:49now faces further delays as airlines consider deferring deliveries
06:53to avoid high-duty analysts said.
06:59We'll go for a quick break. Don't go anywhere.
07:01Welcome back.
07:19Pope Francis, the first Latin American leader of the Roman Catholic Church,
07:23has died at the age of 88.
07:26His death comes as a shock to all,
07:28coming just a day before he appeared in St. Peter's Square
07:31to wish Happy Easter to thousands of worshippers.
07:35It was also his first appearance after being discharged on March 23rd,
07:39following a 38-day hospital stay for pneumonia.
07:43Reacting to the news,
07:44world leaders praised his efforts to reform the Catholic Church,
07:48offering condolences to the 1.4 billion Catholics worldwide.
07:52Jorge Mario Bergoglio was elected Pope on March 13, 2013,
07:58surprising many who saw him as an outsider.
08:01His passing prompts a period of mourning,
08:04after which sets in motion the centuries-old process of electing a new Pope.
08:09U.S. Defense Secretary Pete Hekseff shared information about U.S. airstrikes on Yemen
08:23in a second private group on the Signal app.
08:27The New York Times reports that the group chat included his journalist's wife,
08:31brother, and even his personal lawyer.
08:33The messages that were sent on March 15th involved flight schedules
08:39for American fighter jets carrying out strikes on Houthi's targets.
08:43The developments come a month after the Atlantic magazine
08:46revealed that its editor-in-chief was added into a Signal chat
08:50discussing sensitive information on U.S. military operations.
08:54The White House has denied that classified information was discussed in the group chat.
08:59Washington said its strikes in Yemen were punishment for Houthi attacks
09:03on cargo vessels transiting through the Red Sea,
09:05a waterway for international trade.
09:08Airstrikes on an oil terminal in northwestern Yemen this week
09:11killed at least 74 people and injured 171 others,
09:16according to the Houthi-run Health Ministry.
09:21U.S. Vice President J.D. Vance has arrived in Delhi, India,
09:25where he's expected to hold talks on tariffs with Prime Minister Nandram Modi.
09:30Discussions are likely to focus on fast-tracking a bilateral trade deal
09:34between the two countries.
09:38India has already slashed tariffs on some U.S. goods with further cuts expected.
09:43The country faces a tariff rate of 26% if it is unable to agree a trade deal
09:48with U.S. President Donald Trump's administration.
09:51Vance's visit coincides with several other countries
09:54who are attempting to negotiate trade deals with the U.S.
09:57before the 90-day pause on reciprocal tariffs and on July 9th.
10:01India's Foreign Ministry said Washington and Delhi would also exchange views
10:05on regional and global developments of mutual interest.
10:09Until recently, the U.S. was India's largest trading partner with bilateral trade,
10:14reaching US$190 billion.
10:16Modi had been among the first leaders to meet with Trump after his inauguration,
10:21with the two leaders setting an ambitious target to double bilateral trade
10:25to US$500 billion.
10:30Japanese Prime Minister Shigeru Ishiba says
10:33Tokyo has no plan to terminate a trade deal struck with the U.S. in 2019.
10:38However, he will continue voicing concerns over inconsistency
10:42between the deal and U.S. President Donald Trump's latest automobile tariffs.
10:47In 2019, the U.S. and Japan signed a trade deal
10:52cutting tariffs on U.S. farm goods and Japan's machine tools
10:55as well as other products while easing fears of higher U.S. car duties.
11:00Although the agreement did not cover automobile trade,
11:03then-Japanese Prime Minister Shinzo Abe said he had received assurances from Trump
11:07that the U.S. would not impose Section 232 national security tariffs
11:11on Japanese car imports.
11:13According to Abe, Trump had confirmed to him that no further additional tariffs
11:18will be imposed after the deal was signed.
11:20However, Japan was not exempt and now faces Trump's 25% tariff on auto exports.
11:26Japan's top trade negotiator Ryosei Akazawa visited Washington last week
11:30to kick off bilateral trade talks with the U.S.,
11:33which will likely include discussions on non-tariff barriers
11:36and the topic of exchange rates.
11:38Finance Minister Katsuno Bukato plans to visit Washington later this week,
11:42where he is expected to meet U.S. Treasury Secretary Scott Besant
11:45for discussion on currency rates.
11:47Most of Trump's tariffs are paused until July.
11:50However, a 10% base rate and a 25% auto duty remain in place.
11:57South Korea's acting President Han Duk-so hopes that the upcoming trade talks
12:01with the United States this week in Washington
12:04to be the start of meaningful cooperation.
12:07However, he added that negotiations may not be easy.
12:10South Korea's ministers of finance and industry are meeting U.S. Treasury Secretary Scott Besant
12:17and U.S. TR Representative Jameson Greer later this week on April 24.
12:23Han said Seoul will seek a mutually beneficial deal with the U.S.,
12:27focusing on trade, shipbuilding and liquefied natural gas
12:30while prioritizing national interest.
12:33However, Trump has previously indicated that defense cost sharing may also be on the table.
12:37Kim Hyun-chong, a foreign policy advisor to the country's presidential frontrunner Lee Jae-myung,
12:43warned the interim government against rushing U.S. talks
12:46or making major concessions saying it risks national interest.
12:50In fact, he asserted that no deal is better than a bad one.
12:54Kim served as South Korea's trade minister in 2018
12:56when the country renegotiated a free trade deal with the United States during Trump's first term.
13:02That wraps up Awani tonight.
13:06Check out our web portal,
13:08keeping you informed on the critical events shaping our world
13:11all in one place at international.esrawani.com
13:14That's all for now.
13:17I'm Fahna J.
13:18Thank you for watching and good night.