00:00The government is keeping a close watch on developments in the U.S. after President Donald
00:05Trump's import tariffs were struck down by the Supreme Court yesterday. Investment Trade and
00:11Industry Minister Johari Ghani said while Malaysia signed their reciprocal trade agreement with the
00:17U.S. last year, Pucer Jaya has yet to ratify the deal. However, Johari pointed out that Washington
00:22still had other legal mechanisms under which it could impose unilateral tariffs, among other trade
00:28measures. He said Miti was also looking into Trump's announcement of a 10 percent tariff on all
00:34imports after the U.S. Supreme Court's decision and is awaiting clarity on how the measure will be
00:40implemented and whether further adjustments will follow. He said Malaysia will continue to diversify
00:46its trade relationships and strengthen regional and multilateral economic cooperation to ensure
00:52resilience in an evolving global trade environment. In a split 6-3 decision yesterday, the U.S. Supreme
00:58court ruled that Trump exceeded his authority in imposing the tariffs under the International
01:03Emergency Economic Powers Act.
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