Friday, April 04, 2025

‘You cannot annex another country’, Danish PM says amid US pressure over Greenland





‘You cannot annex another country’, Danish PM says amid US pressure over Greenland



Denmark's Prime Minister Mette Frederiksen (R) talks with the head of the Commander of the Joint Arctic Command Soeren Andersen aboard the Danish Navy inspection vessel Vaedderen in the waters around Nuuk, Greenland yesterday. — AFP pic

Friday, 04 Apr 2025 11:23 AM MYT


COPENHAGEN, April 4 — Denmark’s prime minister said yesterday that Copenhagen would not give up Greenland, as she visited the resource-rich autonomous Danish region that US President Donald Trump has vowed to take over.

Speaking in English and addressing the US, Mette Frederiksen said “you cannot annex another country.”

Tensions between the United States and Denmark have soared after Trump repeatedly said he wanted to take control of the resource-rich Arctic island for security reasons.

Frederiksen arrived in Greenland on Wednesday for a three-day visit, aiming to show support and unity in the face of US threats.

She rode around the capital Nuuk in a Danish navy patrol boat, alongside Greenland’s new prime minister, Jens-Frederik Nielsen and his predecessor Mute Egede.

Danish public broadcaster DR said many people cheered at seeing Frederiksen, with one resident shouting from a window: “Hey Mette! Thanks for being here.”

“It is clear that with the pressure put on Greenland by the Americans, in terms of sovereignty, borders and the future, we need to stay united,” Frederiksen said after arriving on the island on Wednesday.

Her visit comes on the heels of a trip by US Vice President JD Vance last week that both Nuuk and Copenhagen viewed as a provocation.

During his visit last week to the Pituffik military base, Vance castigated Denmark for not having “done a good job by the people of Greenland,” by allegedly neglecting security.

Foreign Minister Lars Lokke Rasmussen responded on social media that “We are open to criticisms, but let me be completely honest, we do not appreciate the tone in which it’s being delivered.”

On Thursday, Vance again criticised Denmark, repeating the accusation that it had “underinvested in the infrastructure and security” of Greenland.

“I think they want to be independent from Denmark, and then once they do that, we can have a conversation about the relationship we’ll have with the United States and Greenland,” he told conservative cable news channel Newsmax.

‘Strong’ ties

Frederiksen’s visit also follows the formation of a new Greenland coalition government led by the centre-right Democrats party, which won a general election in March.

Observers say her visit will reassure the island of 57,000 people, the vast majority of whom, polls show, want to become independent from Denmark but do not wish to become part of the United States.

“I think it’s very, very important and it’s very reassuring for Greenlanders to see a Danish head of government,” Mikaela Engell, an expert on the Arctic territory who previously served as Denmark’s High Commissioner to Greenland, told AFP.

Earlier this year, “the Danish government was almost invisible,” she said, describing Copenhagen’s efforts as tip-toeing, trying to accommodate US interests and not antagonise Trump.

But after the general election and Vance’s visit, the “gloves have come off,” Engell said.

Marc Jacobsen, a researcher at the Royal Danish Defence College, told AFP that the visit would give Copenhagen an opportunity “to show coherence, to show support, to talk about what can they do more concretely, both in terms of how to respond to the United States, but also in terms of concrete cooperation investments.”

Frederiksen is also expected to maintain the position laid out earlier by Denmark’s foreign minister “that it is possible to enhance US military presence” under a 1951 defence agreement.

Meeting on the sidelines of a NATO summit in Brussels on Thursday, US Secretary of State Marco Rubio reassured Rasmussen of the “strong” ties between the countries.

According to The Washington Post, the White House is currently estimating the cost for the US federal government to control Greenland, and the potential revenues it could derive from exploiting its largely untapped natural resources. — AFP

South Korea court ousts President Yoon for martial law bid, says he betrayed people’s trust





South Korea court ousts President Yoon for martial law bid, says he betrayed people’s trust



Moon Hyung-bae (C), acting chief justice of South Korea's Constitutional Court, speaks during the final ruling of South Korean president Yoon Suk Yeol's impeachment at the Constitutional Court in Seoul today. — AFP pic

Friday, 04 Apr 2025 11:08 AM MYT


SEOUL, April 4 — South Korea’s Constitutional Court today upheld President Yoon Suk Yeol’s impeachment over his disastrous martial law declaration, voting unanimously to strip him of office for violating the constitution.

Yoon, 64, was suspended by lawmakers over his December 3 attempt to subvert civilian rule, which saw armed soldiers deployed to parliament. He was also arrested on insurrection charges as part of a separate criminal case.

His removal triggers fresh presidential elections, which must be held within 60 days.

“Given the serious negative impact and far-reaching consequences of the respondent’s constitutional violations... (We) dismiss respondent President Yoon Suk Yeol,” said acting court President Moon Hyung-bae.

The decision was unanimous by all eight of the court’s judges, who have been given additional security protection by police with tensions high and pro-Yoon supporters rallying in the streets.

Yoon’s actions “violate the core principles of the rule of law and democratic governance, thereby undermining the constitutional order itself and posing a grave threat to the stability of the democratic republic,” the judges said in their ruling.

Yoon’s decision to send armed soldiers to parliament in a bid to prevent lawmakers from voting down his decree “violated the political neutrality of the armed forces and the duty of supreme command.”

He deployed troops for “political purposes”, the judges said, which “caused soldiers who had served the country with the mission of ensuring national security and defending the country to confront ordinary citizens.”

“In the end, the respondent’s unconstitutional and illegal acts are a betrayal of the people’s trust and constitute a serious violation of the law that cannot be tolerated from the perspective of protecting the Constitution,” the judges ruled.

Impeached

Yoon is the second South Korean leader to be impeached by the court after Park Geun-hye in 2017.

After weeks of tense hearings, judges spent more than a month deliberating the case, all while public unrest swelled.

Police raised the alert to the highest possible level Friday, enabling the deployment of their entire force. Officers encircled the courthouse with a ring of vehicles and stationed special operations teams in the vicinity.

Anti-Yoon protesters cried, cheered and screamed as the verdict was announced. Some jumped and shook each other’s hands in joy, while others hugged people and cried.

Outside Yoon’s residence, his supporters shouted and swore, with some bursting into tears as the verdict was announced.

Yoon, who defended his attempt to subvert civilian rule as necessary to root out “anti-state forces”, still commands the backing of extreme supporters.

At least two staunch Yoon supporters—one in his 70s and the other in his 50s—have died after self-immolating in protest of the controversial leader’s impeachment.

Embassies—including the American, French, Russian and Chinese—have warned citizens to avoid mass gatherings in connection with Friday’s verdict.

The decision shows “first and foremost the resilience of South Korean democracy,” Byunghwan Son, professor at George Mason University, told AFP.

“The very fact that the system did not collapse suggests that the Korean democracy can survive even the worst challenge against it—a coup attempt.”

‘Highly unlikely’ to reinstate

South Korea has spent the four months since Yoon declared martial law without an effective head of state, as the opposition impeached Yoon’s stand-in—only for him to be later reinstated by a court ruling.

The leadership vacuum came during a series of crises and headwinds, including an aviation disaster and the deadliest wildfires in the country’s history.

This week, South Korea was slammed with 25 percent tariffs on exports to key ally the United States after President Donald Trump unveiled global, so-called reciprocal levies.

Since December, South Korea has been “partially paralysed—it has been without a legitimate president and has been challenged by natural disasters and the political disaster called Trump,” Vladimir Tikhonov, Korean Studies professor at the University of Oslo, told AFP.

Yoon also faces a separate criminal trial on charges of insurrection over the martial law bid. — AFP


Trump’s tariffs blamed for historic US$2.4 trillion market crash and rising recession threat





Trump’s tariffs blamed for historic US$2.4 trillion market crash and rising recession threat



A screen from the finviz financial news site shows the one-day performance of the S&P 500.

Friday, 04 Apr 2025 9:42 AM MYT


SINGAPORE, April 4 — Stocks limped to the end of the week on Friday, the dollar was set for its worst week in a month while gold flirted with a record peak as investors feared US President Donald Trump’s sweeping tariffs would tip the global economy into a recession.

Asian shares struggled to recover their heavy losses from the previous session as Japan’s Nikkei fell 1.85 per cent, extending its 2.8 per cent slide from Thursday.

MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.26 per cent in thin trade, with markets in China, Hong Kong and Taiwan closed for a holiday.

Overnight S&P 500 companies lost a combined US$2.4 trillion (RM10 trillion) in stock market value, their biggest one-day loss since the coronavirus pandemic hit global markets on March 16, 2020, while other Wall Street indexes similarly clocked sharp falls.

The bruising selloff across markets came after Trump on Wednesday announced Washington’s steepest trade barriers in more than 100 years, sending investors scrambling for safety assets.

“If the current slate of tariffs hold, a Q2 or Q3 recession is very possible, as is a bear market,” said David Bahnsen, chief investment officer at The Bahnsen Group.

“The question is, does President Trump seek some sort of off-ramp for these policies if and when we see a bear market in the stock market. We believe Trump will then pivot to focus on the number of companies that are making significant investments in the US, but it’s unclear that would reverse market sentiment.”

US stock futures steadied in the early Asian session, with Nasdaq futures rising 0.05 per cent, while S&P 500 futures eased 0.06 per cent.

Reflecting the heightened worries of a global recession, particularly in the United States, traders have since ramped up bets of more Federal Reserve rate cuts this year, on the view that policymakers would have to ease more aggressively to shore up growth in the world’s largest economy.

Fed funds futures now point to roughly 96 basis points worth of cuts by December, from closer to 70 bps shortly before Trump’s tariffs were announced on Wednesday.

“Central banks are not well-equipped to deal with stagflation as the impacts of slower growth and higher inflation pull policy in opposing directions,” said David Doyle, head of economics at Macquarie Group.

“This means that stronger core inflation is likely to limit the extent of any policy response from the Fed due to the headwinds created for growth.”

Fed Chair Jerome Powell is due to speak later on Friday and investors will be looking out for his latest assessment of the US economy and any clues on the policy outlook following Trump’s fresh tariff salvo.

In the foreign exchange market, the dollar was up 0.09 per cent against the yen at 146.23, after having tumbled 2.2 per cent in the previous session, its steepest daily fall in more than two years.

The euro steadied at US$1.1043 after a 1.9 per cent jump on Thursday, while the Swiss franc last stood at 0.8591 per dollar, having also surged 2.6 per cent on Thursday.

Against a basket of currencies, the dollar languished near a six-month low at 102.04.

“Much of the weakness of the US dollar this year can be related to the weight of long positions that were built into the end of the year coupled with the refocussing of attention on US growth risks that have accompanied tariff talk for weeks,” said Jane Foley, senior FX strategist at Rabobank.

Safe-haven currencies like the yen and the Swissie have benefitted from investors’ flight to safety assets, which also saw bond prices surging.

The benchmark 10-year US Treasury yield was last little changed at 4.0436 per cent, having fallen 14 bps in the previous session. Bond yields move inversely to prices.

Elsewhere, spot gold was perched near a record high at US$3,112.81 an ounce, and was on track for a fifth straight weekly gain, as worries about the impact of Trump’s tariffs on the global economy boosted the metal’s safe-haven appeal.

Oil prices extended their steep decline from the previous session, with Brent futures down 0.13 per cent at US$70.05 a barrel, while US West Texas Intermediate crude futures fell 0.15 per cent to US$66.85 per barrel. — Reuters

Trump imposes 50% tariff on Africa’s Lesotho, the highest among nations


al Jazeera:

Trump imposes 50% tariff on Africa’s Lesotho, the highest among nations

The move deals a harsh blow to the small, impoverished state, which Trump mocked as a place ‘nobody has heard of’


A general view of Lesotho National Development Corporation building in Maseru, Lesotho [File: Roberta Ciuccio/AFP]

Published On 3 Apr 20253 Apr 2025



The Trump administration has imposed a steep 50 percent tariff on Lesotho, a small, impoverished African nation of two million people – the highest tariff levied on any country.

The measure delivers a severe blow to Lesotho’s economy, which relies heavily on exports for its modest $2bn gross domestic product (GDP).

United States President Donald Trump, who mocked Lesotho last month as a country “nobody has ever heard of”, announced it as part of a sweeping set of “reciprocal tariffs” laid out on Thursday.

Trump’s new tariffs were calculated based on the US trade deficit with each country, divided by the total value of imports from that nation. As a result, smaller economies with limited imports from the US – such as Lesotho and Madagascar – were hit hardest.

Lesotho’s trade surplus with the US is largely driven by diamond and textile exports, including Levi’s jeans. In 2024, its exports to the US totalled $237m, accounting for more than 10 percent of its GDP, according to Oxford Economics.

Workers pack completed jeans at Afri-Expo Textiles factory in Maseru, Lesotho [File: Roberta Ciuccio/AFP]


Meanwhile, the Trump administration claims Lesotho imposes a 99 percent tariff on US goods.

The high levies on Lesotho and other African states signalled the end of the African Growth and Opportunity Act (AGOA) trade deal that was supposed to help African economies develop through preferential access to US markets, trade experts said.

It also compounded the pain after Trump’s administration dismantled the US Agency for International Development (USAID), which was a major aid provider to the continent.

Thabo Qhesi, a Maseru-based independent economic analyst, said the US tariff on Lesotho “is going to kill the [country’s] textile and apparel sector”, its largest private employer.

“If the closure of factories were to happen, the industry is going to die and there will be multiplier effects,” Qhesi said. “So Lesotho will be dead, so to say.”

The Lesotho government did not comment immediately on the trade tariffs. But its foreign minister told the Reuters news agency last month the country, which has one of the highest HIV/AIDS infection rates in the world, was feeling the impact of the aid cuts as the health sector had been reliant on them.


Source: Al Jazeera and news agencies


***


kt comments:

Carrot Head Clown is nothing more than a low class miserable pathetic bully, of the worst kind there is


Israeli attacks on Gaza schools sheltering displaced Palestinians kill 33


al Jazeera:

Israeli attacks on Gaza schools sheltering displaced Palestinians kill 33

At least 18 children among those killed in Gaza City at three schools-turned-shelters for families


A Palestinian boy wounded in an Israeli strike is carried to treatment at Nasser Hospital in Khan Younis in the southern Gaza Strip [Hatem Khaled/Reuters]

Published On 3 Apr 20253 Apr 2025



At least 33 Palestinians have been killed and more than 100 wounded in Israeli air attacks on three schools housing displaced people in the Tuffah neighbourhood of Gaza City, according to local officials.

Gaza’s Government Media Office said in a statement that 29 people – including 18 children – were killed and more than 100 were injured when Israeli air raids hit the Dar al-Arqam School-turned-shelter on Thursday.

The school was hit with at least four missiles, a Civil Defence spokesperson said.

Sources told Al Jazeera that at least four people also were killed in an Israeli attack on the Fahd School in the same area of Gaza City, which was also sheltering displaced families.

Israeli forces also reportedly hit Shaaban Alrayyes school in Tuffah, although no figures on casualties were immediately available.

The Israeli military said it struck a command centre in Gaza City that had been used by Hamas fighters to plan and execute attacks against Israeli civilians and soldiers. It was unclear whether it was the same attack that targeted a school.

Israeli forces have routinely targeted shelters in the Gaza Strip that house displaced families who have nowhere to flee and remain trapped in the besieged enclave, which is being heavily bombarded.


***


kt comments:

Shai-Loks' deity desires child sacrifices - this has been known since:

(i) Abraham sacrificed Isaac - see my post

(ii) the Last Passover in Egypt,

(iii) Jephthah sacrificed his only daughter-child

(iv) the deity's own son was sacrificed by the Sanhedrin as a crucified votive offering.

(v) etc etc etc


Thus the Shai-Loks have to kill Palestinian babies to offer as votive offerings to satiate the hunger-desire of their deity, or else they have to offer their own children (which under the Shai-Loks' 'Hannibal Doctrine' they sometimes did-do).

What an ugly people!!!



Lorry driver injured in panther attack in Jelebu


theVibes.com:

Lorry driver injured in panther attack in Jelebu


Perhilitan Negeri Sembilan has increased patrols in the area and visited the victim to offer support.

Updated 3 minutes ago
Published on 04 Apr 2025 12:35AM


The victim was attacked on the head by the panther - Picture from Perhilitan, April 4, 2025



A LORRY driver in his 50s was injured this afternoon in a panther attack while stopping to relieve himself along Jalan Bukit Tangga-Seremban in Jelebu.


Negeri Sembilan Wildlife Protection and National Parks Department (Perhilitan) director Faizal Izham Pikri confirmed receiving reports of the incident, including a video, at 6.14 pm.



“The victim was attacked on the head by a panther, which emerged from a nearby forest before fleeing back into the woods. The driver was quickly transported to Tuanku Ja'afar Hospital for treatment,” he said in a statement last night as reported by Bernama.

Perhilitan Negeri Sembilan has increased patrols in the area and visited the victim to offer support.



Faizal also urged road users to remain vigilant when travelling through known wildlife corridors and to contact the authorities immediately if they encounter wild animals.

Earlier, a 16-second video clip circulating on social media shows the black panther running back into the forest shortly after the attack, recorded at 3.31 pm. – April 4, 2025


MCMC records statement from X user who said it was ‘time to wage war against the Indians’


theVibes.com:

MCMC records statement from X user who said it was ‘time to wage war against the Indians’


The recording session was conducted with the cooperation of the Royal Malaysia Police (PDRM).

Updated 3 hours ago
Published on 03 Apr 2025 8:52PM


The suspect's statement was also recorded at the Brickfields police station to assist in the investigation. - April 3, 2025



THE Malaysian Communications and Multimedia Commission (MCMC) today recorded the statement of a customer service officer believed to have uploaded extreme content that touched on racial sensitivities through the X social media application.


The recording session was conducted with the cooperation of the Royal Malaysia Police (PDRM).

In a statement, the MCMC said a smartphone and a SIM card belonging to the man were seized for forensic analysis.

The suspect's statement was also recorded at the Brickfields police station to assist in the investigation.

The case is being investigated under Section 233 (1) (a) of the Communications and Multimedia Act 1998, which provides for a fine of up to RM500,000 or a maximum prison sentence of up to two years, or both, upon conviction.

It was earlier reported that the Ministry of National Unity had lodged a report with the MCMC against an X user over racially and provocatively charged statements on social media.

Minister Datuk Aaron Ago Dagang said the ministry was committed to ensuring that the harmony and unity of the Malaysian people are continuously preserved.

According to the post by user, Amir Ridhwaan, he said the time had come to “wage war against the keling” (a derogatory term for Indians) so that they would “realise their place.”



He called for a repeat of the May 13 incidents and insulted the Indian community, calling them “stupid” and accusing them of “building hundreds of illegal temples” despite making up only seven percent of the population.

“MCMC once again wants to remind the public not to upload or share any content or views that contain elements of hatred involving the 3R (race, religion, and the royal Institution) on social media and messaging applications.

“Joint enforcement actions with PDRM will be taken continuously against those involved, in accordance with existing legal provisions to protect public harmony and order,” added the statement. – April 3, 2025


New US tariff impacts S’pore, can escalate into global trade war - DPM








New US tariff impacts S’pore, can escalate into global trade war - DPM


Bernama
Published: Apr 3, 2025 9:53 PM
Updated: 12:53 AM




The US move to subject imports to wide-ranging tariffs will have a significant impact on Singapore and could escalate into a global trade war, the Straits Times (ST) reported Singapore Deputy Prime Minister Gan Kim Yong as saying.

Gan, who is also trade and industry minister, said Singapore households and businesses must be prepared for rough waters ahead.

He said Singapore is reassessing its growth forecast for 2025 and is prepared to offer support to households and businesses if needed.

Gan noted that while the 10 percent tariff on goods from Singapore is lower than that imposed on goods from other countries, there will still be an impact on growth if global trade and economic activity slow down significantly.

He said Singapore is disappointed with the US move, given the longstanding economic relationship and the free trade agreement (FTA) between the two countries.

Gan said Singapore will engage with the US to understand how the tariffs were calculated and to clarify any misunderstandings that may have led to the 10 percent levy.

“The US-Singapore FTA has been a very important FTA for both countries and has benefited the US significantly.

“US imports to Singapore have enjoyed zero tariffs for more than two decades, and they have also enjoyed a significant, substantial trade surplus with Singapore amounting to S$30 billion,” he said, ST reported.

Countermeasures

Gan said that under the FTA, Singapore has recourse to take countermeasures and seek dispute resolution.

"However, we have decided not to do so because imposing retaliatory import duties will just add costs to our imports from the US, and this will affect our consumers and our businesses,” he added.



Gan said Singapore will also engage with other trade partners, particularly Asean member countries, to work together to deepen integration, as well as like-minded partners across the world to strengthen the World Trade Organisation (WTO).

On Wednesday, Trump signed an executive order that will impose a baseline 10 percent tariff on all countries, as well as individualised reciprocal higher tariffs on countries with which the United States has the largest trade deficits.

These will take effect on April 5 and April 9, respectively.

These tariffs will remain in effect until Trump determines that the threat posed by the trade deficit and underlying non-reciprocal treatment is satisfied, resolved, or mitigated.

- Bernama

Trump's April Foolish tariffs










Bridget Welsh
Published: Apr 3, 2025 6:47 PM
Updated: 10:23 PM




COMMENT | The announced “reciprocal tariffs” or “liberation day” has come.

It is a day where the rest of the world looks in dismay at the foolishness of the Donald Trump administration’s “America First” measure tariff regime and deepens discussions on how to liberate their own economies from a country whose leaders seem to care less about the harm being caused.

Today’s reciprocal tariff of 24 percent on Malaysian goods into the United States – with some exemptions, the most important of which for Malaysia’s economy is semiconductors – is arguably the most damaging decision in the history of the bilateral relationship between the two countries.

Malaysian anger – and that of the rest of the world who are being targeted– is fully justified.

So far, the Anwar Ibrahim administration has answered prudently, calling for dialogue and not imposing retaliatory tariffs. There is a recognition that two wrongs with imposing tariffs don’t make a right.

This piece looks at the recent tariffs and offers some suggestions ahead.

Trump’s damaging trade regime

The US administration’s idea of a “reciprocal tariff” aims to balance the trade imbalance between countries. It begins from a misunderstanding of how trade works and a view that tariffs can be used for “correction”.

The nonsensical methodology of how they determine the tariff looks at trade flows to calculate what can only be seen as an arbitrary figure and then discounted even more arbitrarily. Their explanation of calculations can be found here.



Closer inspection appears to reveal that they looked at the trade deficit and divided it by the country’s exports, rubbishing any credibility in their assessment.

Their supposed aim is to bring back jobs and investment into the US. In their logic the tariff is a tool that will encourage investment and provide a fairer economic outcome for the US.

It starts from the outlook that globalisation/low tariff trade has not benefited America, pandering to nationalist/protectionist rhetoric riddled with arrogance.

There is little concern for the damage being inflicted on countries, businesses (including US businesses abroad) and the inflationary implications that inevitably will hit consumers the hardest.

Citizens around the world now have to endure a global trade arrangement that feeds retaliation and greater protectionism. The fact that this is deemed as a “celebration” speaks to how disconnected the policy approach is from reality.

Southeast Asia hit hard

Southeast Asian countries have been among the most slammed by these measures. The poorest countries in the region have received among the highest tariffs – Cambodia (49 percent), Laos (48 percent), and earthquake-ravished Myanmar (44 percent).

This is grossly unfair and goes against years of a trade regime that advantaged poorer countries in their development trajectories.

The major economies in the region have not been spared – tariffs for Vietnam (46 percent), Thailand (36 percent), Indonesia (32 percent), and the Philippines (17 percent). Singapore has managed to get the global minimum level of 10 percent.

Cambodia


Compared to most of the countries in Southeast Asia, Malaysia has a lower tariff at 24 percent, but this level is still extremely high and punitive.

Malaysia’s trade to the US was valued at US$53 billion (RM235.48 billion) in 2024, with a trade surplus in favour of Malaysia of US$25 billion. The main items exported to the US in 2024 according to the Observatory of Economic Complexity (OEC) included integrated circuits, semiconductors, telephones, industrial printers and computers.

Of these, only semiconductors are exempt from the new “liberation” tariffs. How long this exemption will be in place is not clear. The effect of the recent tariffs will be on the manufacturing sector, especially concentrated in key areas such as the Klang Valley and Penang.

The effects will extend beyond immediately impacted sectors to include inflationary pressures on the economy as a whole, including introducing an administrative nightmare for customs officials and greater compliance costs for businesses, which will be passed on to consumers.

The tariffs will also lead to geopolitical realignments, as the fact that these measures benefit China’s global position. China is not perceived as starting this trade fight and has been on the receiving end.

Collectively the Trump administration has imposed 76 percent tariffs on China in the last two-plus months that the administration has been in power.

China has responded but, to date, these measures have been constrained. This dynamic will likely evolve as the impact on China’s economy is intense and will also reshape trade relations in the region.

No question, the spillovers to the global economy feed destabilisation, fuel competition and division and raise the spectre of a global recession. This is less than three months of Trump’s havoc.

Key steps to consider ahead

Given that trade punitive politics are far from over, more decisive measures from Malaysia can help ameliorate the negative effects of protectionism.

Appoint diplomatic representation in Washington DC. Malaysia needs to better position herself in the US. The lack of both a Malaysian ambassador or deputy in Washington DC is doing the country no favours and undermines her ability to articulate her interests.



This should be urgently corrected. There is a need to appreciate that the US has changed, as has its way of “doing business”. This requires a better understanding of the dynamics and drivers of current US policy.

Avoid the bilateral negotiation trap. While Malaysia needs to negotiate for herself, this go-it-alone approach should be understood as one of the intentions of the Trump trade regime.

Malaysia is weaker in negotiating by herself than with like-minded countries, especially in Asean. The need for cooperation among the region’s economies is more pressing than ever. This can be buoyed by the meeting of the Asean finance ministers in Kuala Lumpur next week.

Deepen existing trade agreements. The Regional Comprehensive Economic Partnership (RCEP) and Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) collectively comprise 20 countries to work to strengthen trade ties. They provide like-minded partners to strengthen trade ties.

Speed up trade negotiations with the European Union and Gulf Cooperation Council in ongoing trade discussions, as well as those with Africa. While decoupling from the US given the structure of the Malaysian economy is impossible in the short term, longer-term relationships with other countries offer Malaysia greater diversity and protection.

Better analyse consequences for food security, inflation and the impact on key sectors in the economy. Do not assure that the exemption on semiconductors will remain for the duration, for example.

More research inputs are necessary to examine the effects of tariffs more holistically on Malaysia’s economy and society. Ongoing discussions with businesses need to be further enhanced, with regular rather than ad hoc engagements. Malaysia needs to understand how potential redirected trade flows might impact local businesses and groups within Malaysia both positively and negatively.

To date, Malaysia has adopted a “wait and see” approach to the Trump tariff measures, attempting to keep a “low profile”. The time to wait is long over.

The focus needs to be on “seeing”. The solutions to Trump tariffs have to go well beyond negotiations. It is important to appreciate that Malaysia and her economy are resilient, but these Trump tariffs are harmful, intentionally so.

Proactive, prudent planning is critical.



BRIDGET WELSH is an honorary research associate of the University of Nottingham’s Asia Research Institute, a senior research associate at Hu Fu Centre for East Asia Democratic Studies, and a senior associate fellow at The Habibie Centre. Her writings can be found at bridgetwelsh.com


Man, 67, goes missing after sending daughter email

FMT:

 

Man, 67, goes missing after

sending daughter email

-

Albert Tan Pek Chuan is said to have left his house in Klang on Tuesday.

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Total Views: 2,722
albert tan pek chuan
Police urged those with information on Albert Tan Pek Chuan to contact them. (PDRM pic)

PETALING JAYA
A 67-year-old man has been reported missing after leaving his house in Klang on Tuesday.

Klang Utara police said the daughter of Albert Tan Pek Chuan had reported him missing after he had sent her an unsettling email, in which he also bid goodbye.

“We urge those with information to contact the Klang Utara police station or the nearest police station.

“They may also contact the investigating officer, Hamran Abu Hassan, at 019-393 0239,” Klang Utara police chief S Vijaya Rao said in a statement.

Tan is fair-skinned, 165cm tall, weighs about 60kg and has black hair.

Think tank rubbishes Trump’s tariff numbers

FMT:

 

Think tank rubbishes


Trump’s tariff numbers

-

The Center for Market Education says the US president has ignited a trade war with ‘made-up’ data.

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Free Malaysia Today
The Center for Market Education’s CEO, Carmelo Ferlito, said trade barriers cannot be calculated as the ratio between trade deficit and import.

PETALING JAYA
The head of a think tank has disputed the data presented by the US administration to justify the reciprocal tariff it imposed on several countries, including Malaysia.

The Center for Market Education’s CEO, Carmelo Ferlito, said while the numbers presented looked incredibly high to give the impression that the US government was vindicated in imposing protective policies, a closer look at the figures revealed that they were in fact a result of the ratio between US trade deficit and US import with each country.

“It goes without saying (that) trade barriers cannot be calculated as the ratio between trade deficit and import.

“It is clear that the trade war begins in the worst possible way, with made-up data,” he said in a statement.

Ferlito said while trade deficit, import and export were influenced by trade barriers, they were not uniquely determined by them.

According to Donald Trump’s administration, the US had to deal with 47% trade barriers from Malaysia, 64% from Indonesia, 67% from China, 46% from Japan and 90% from Vietnam.

Malaysia was hit with a 24% reciprocal tariff by the US, effective April 9.

According to an executive order signed by Trump yesterday, Malaysia is one of 49 countries slapped with the reciprocal tariff.

The other countries include Cambodia (49%), Laos (48%), Vietnam (46%), Myanmar (45%), Thailand (37%), China (34%), Indonesia (32%), Brunei (24%) and the Philippines (18%).

The highest rate of 50% was imposed on Lesotho, and the lowest of 11% on the Democratic Republic of Congo.

Ferlito said the correct approach to trade barriers, tariff and non-tariff alike, was by referring to the Tholos Foundation’s International Trade Barrier Index, which he said provided a more accurate measure.

He also said countries which opposed Trump’s tariffs should actively promote and push harder for bilateral and multilateral free trade agreements, and not try to create even more hidden protection for domestic industries.

Ferlito said Malaysia should also capitalise on its privileged position as the Asean chair.

“Instead of retaliatory measures, Malaysia should leverage its Asean position to promote service trade liberalisation and push for a more aggressive trade policy with the European Union,” he said.

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kt remarks:

Typical Carrot Head's kerbau