00:00Several business groups have backed Pucca Jaya's decision to strengthen ties with BRICS nations,
00:05despite U.S. President Donald Trump's threat to impose an additional 10% tariff on countries
00:11aligning with the bloc's policies.
00:13The Small and Medium Enterprises Association of Malaysia said trade decisions should not
00:18be swayed by external pressure or intimidation.
00:21Sementa President William Ng said Malaysia should continue engaging with BRICS,
00:26particularly on trade equity, technology transfer, and development financing.
00:31He said should additional tariffs be imposed, SMEs must pivot to other BRICS economies like China, India, and South Africa.
00:39Similarly, economist Jaya Menon of IC's Yusuf Ishak Institute said Malaysia must start weaning itself off its dependence on the U.S.,
00:47which is increasingly presenting itself as an aggressive, unreliable, and erratic trading partner.
00:52He acknowledged that while there will be short-term adjustment costs,
00:57the shift would be beneficial in the long run.
01:00Natasha Boost, FMT.
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