00:00Opposition MP Wan Ahmad Faizal Wan Ahmad Kamal has called on the government to urgently
00:07negotiate with the US to reduce or restructure the 24% reciprocal tariff imposed on Malaysian
00:14imports. The Macang MP said the new reciprocal tariffs were a major blow to the global economy
00:21and significantly affected Malaysia. He said the immediate consequences included reduced
00:27competitiveness of Malaysian products in the US market, loss of export contracts and potential
00:33job losses, while in the medium term these tariffs could hinder Malaysia's gross domestic
00:38product growth and further weaken the ringgit. Wan Faizal said that in navigating the global
00:44uncertainties following US President Donald Trump's policies, Malaysia must safeguard
00:49and strengthen its geoeconomic institutions, particularly Petronas. He said Petronas plays
00:56a crucial role in opening up trade opportunities abroad and that its economic initiatives often
01:02yield benefits beyond the oil and gas sector. He said the government must avoid excessive
01:08political interference in Petronas and granted full autonomy to execute its investment plans
01:14and expansion strategies domestically and internationally. He also said weakening Petronas
01:21equates to weakening Malaysia's bargaining power in international trade negotiations,
01:27particularly in bilateral engagements with key trading partners. Natasha Bust, FMT
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