Latest news with #17thBRICSLeadersSummit
Daily Express
6 days ago
- Business
- Daily Express
Cabinet to discuss 25% US tariff tomorrow
Published on: Tuesday, July 08, 2025 Published on: Tue, Jul 08, 2025 By: FMT Reporters Text Size: Plantation and commodities minister Johari Ghani played down concerns that Malaysia's involvement in the BRICS group of developing nations will lead to further US tariffs. PETALING JAYA: The Cabinet will discuss the 25% tariff imposed by the US on Malaysian products tomorrow, says plantation and commodities minister Johari Ghani. The tariff, effective Aug 1, was announced by US president Donald Trump yesterday and will apply to all Malaysian exports, separate from other sector-specific duties. Malaysia had faced a 24% tariff on certain exports to the US unless both sides could reach an agreement before the end of the 90-day pause today. 'For the past 90 days, investment, trade and industry minister Tengku Zafrul Aziz has been negotiating with the US,' Johari said in a Harian Metro report. 'It seems they have given until Aug 1 to continue negotiations, but they've already increased the tariff from 24% to 25%. 'Let's wait and see. I believe the Cabinet will address this issue tomorrow.' In a letter addressed to Prime Minister Anwar Ibrahim, Trump said Malaysia's current trade policies had made its trading relationship with the US largely one-sided and non-reciprocal. While Trump said he was ready to lower the 25% tariff if Malaysia changed its trade policies, he warned that any decision by Malaysia to raise tariffs on US goods would result in an additional 25% tariff. Johari also played down concerns that Malaysia's involvement in the BRICS group of developing nations would lead to further US tariffs, stressing the importance of diversifying Malaysia's export markets. Trump previously said the US would impose an additional 10% tariff on any country aligning itself with BRICS's 'Anti-American policies'. Anwar was among the world leaders who attended the 17th BRICS Leaders Summit in Brazil on Sunday. 'There are over 190 countries in the world. If one country treats us like this, it doesn't mean we can't survive,' said Johari. 'We must look for new markets.' * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
The Sun
6 days ago
- Business
- The Sun
Malaysia pushes for global health equity and climate justice at BRICS summit
RIO DE JANEIRO: Malaysia has called for greater equity in global health and climate action at the 17th BRICS Leaders Summit, emphasising the need for fair vaccine distribution, stronger public health systems, and sustainable financing for developing nations. Prime Minister Datuk Seri Anwar Ibrahim stressed that financial systems must not undermine essential services like healthcare and clean water. 'Let us begin with a hard truth. In too much of the world, life expectancy remains shaped not by biology, but by income,' he said during the summit's session on environment and global health. Anwar welcomed the launch of the BRICS Partnership for the Elimination of Socially Determined Diseases, noting that addressing disease requires tackling underlying social conditions. He also advocated for deeper ASEAN-BRICS collaboration in health surveillance, knowledge sharing, and cross-border resilience. On climate action, Malaysia reaffirmed its commitment to reducing emissions intensity by 45% by 2030 and achieving net-zero by 2050. Anwar highlighted policy measures such as the National Energy Transition Roadmap and the development of carbon pricing mechanisms. However, he pointed out that climate finance remains insufficient, with only US$300 billion available annually against an estimated US$3 trillion needed by developing nations. As ASEAN Chair, Malaysia is working to enhance regional climate coordination, improve green finance access, and position Southeast Asia as a hub for clean energy innovation. Ahead of COP30 in Brazil, Anwar urged a shift 'from aspiration to execution,' stressing that climate justice involves fair allocation of capital, risk, and responsibility. Anwar arrived in Rio de Janeiro on Saturday at the invitation of Brazilian President Luiz Inacio Lula da Silva. Malaysia became a BRICS Partner Country on January 1 this year.
New Straits Times
7 days ago
- Business
- New Straits Times
Malaysia stresses global health and climate equity at BRICS summit
RIO DE JANEIRO: Malaysia believes that vaccine access, strong public health systems, and the regulation of global medical supply chains are central to both national stability and international security. Prime Minister Datuk Seri Anwar Ibrahim stressed that when governments divert limited resources from essential services such as healthcare and clean water to service historical debts, financial systems designed to foster development instead hinder progress. "Let us begin with a hard truth. In too much of the world, life expectancy remains shaped not by biology, but by income. "The fact that a child's chance of surviving past the age of five is still largely determined by GDP per capita represents a failure for us all," he said during his intervention at the "Environment, COP30 and Global Health" session of the 17th BRICS Leaders Summit here today. Malaysia, he said, welcomes the launch of the BRICS Partnership for the Elimination of Socially Determined Diseases. "It reflects a clear understanding that disease cannot be meaningfully addressed without tackling the conditions that entrench it," said Anwar. The Prime Minister voiced Malaysia's support for deeper collaboration between BRICS and Asean to strengthen surveillance, accelerate knowledge transfer, and build resilience across borders. He also reaffirmed Malaysia's commitment to a credible and just low-carbon transition, highlighting the country's pledge to reduce emissions intensity by 45 per cent by 2030 and to achieve net-zero emissions by 2050. "These targets are grounded in law and embedded across public policy," he said, noting that Malaysia's approach is anchored in the National Energy Transition Roadmap and supported by efforts to introduce a carbon pricing mechanism and regulatory reforms across key sectors. Anwar said that Malaysia is also assessing the role of carbon capture, utilisation, and storage (CCUS) in decarbonising industry, with policy frameworks currently being developed. However, he stressed that policy alone is not enough - transition requires capital. "At present, international climate finance stands at roughly US$300 billion per year. This is far short of the estimated US$3 trillion required by developing countries alone to meet mitigation and adaptation needs by 2030," he said. As this year's Asean chair, Anwar said Malaysia is working to strengthen regional coherence on climate action. He said the nation is focused on improving access to green finance, harmonising standards, and positioning Southeast Asia as a centre for clean energy innovation and sustainable investment. Ahead of COP30 in Belem, Brazil, this November, Anwar called for a shift "from aspiration to execution". "Climate justice is ultimately about allocation: of capital, of risk, and of responsibility," he said. The Prime Minister said Malaysia views health, climate, and finance as inseparable, warning that a degraded environment weakens health systems while an underfunded health system undermines resilience. "And both suffer when sovereign debt restricts national policy space," he added. Anwar arrived here on Saturday to attend the 17th BRICS Leaders' Summit hosted by Brazil at the invitation of President Luiz Inacio Lula da Silva.
Barnama
7 days ago
- Health
- Barnama
Malaysia Stresses Equity In Global Health, Climate At BRICS Summit
From Arul Rajoo Durar Raj RIO DE JANEIRO, July 7 (Bernama) -- Malaysia believes that vaccine access, strong public health systems and the regulation of global medical supply chains are central to both national stability and international security. Prime Minister Datuk Seri Anwar Ibrahim stressed that when governments divert limited resources from essential services such as healthcare and clean water to service historical debts, financial systems designed to foster development instead hinder progress. 'Let us begin with a hard truth. In too much of the world, life expectancy remains shaped not by biology, but by income. 'The fact that a child's chance of surviving past the age of five is still largely determined by GDP per capita represents a failure for us all,' he said during his intervention at the 'Environment, COP30 and Global Health' session of the 17th BRICS Leaders Summit here today. Malaysia, he said, welcomes the launch of the BRICS Partnership for the Elimination of Socially Determined Diseases. 'It reflects a clear understanding that disease cannot be meaningfully addressed without tackling the conditions that entrench it,' said Anwar. The premier voiced Malaysia's support for deeper collaboration between BRICS and ASEAN to strengthen surveillance, accelerate knowledge transfer, and build resilience across borders. He also reaffirmed Malaysia's commitment to a credible and just low-carbon transition, highlighting the country's pledge to reduce emissions intensity by 45 per cent by 2030 and to achieve net-zero emissions by 2050.
News18
06-07-2025
- Politics
- News18
'Force For Global Good': PM Modi Thanks Brazil President Lula For Hosting BRICS Summit
Last Updated: PM Modi arrived in Brazil to attend the 17th BRICS Leaders Summit. Prime Minister Narendra Modi on Sunday received a warm welcome from Brazil President Luiz Inacio Lula da Silva as he arrived at the Museum of Modern Art in Rio de Janeiro to attend the 17th BRICS Leaders Summit. Both the leaders shook hands and shared a warm hug with enthusiasm at the venue. The Prime Minister further thanked President Lula for hosting the BRICS Summit. "Grateful to President Lula for hosting this year's BRICS Summit in Rio de Janeiro. BRICS remains a powerful force for economic cooperation and global good," he said in a post on X. Grateful to President Lula for hosting this year's BRICS Summit in Rio de remains a powerful force for economic cooperation and global good. @LulaOficial — Narendra Modi (@narendramodi) July 6, 2025 PM Modi To Attend BRICS Summit PM Modi arrived in Brazil to attend the 17th BRICS Leaders Summit. During the Summit, Prime Minister Modi will exchange views on key global issues, including reform of global governance, peace and security, strengthening multilateralism, responsible use of artificial intelligence, climate action, global health, and economic and financial matters. PM Modi In Brazil PM Modi had arrived in Brazil earlier in the day on the fourth leg of his five-nation visit, after wrapping up a historic trip to Argentina on Saturday. This is Prime Minister's fourth visit to Brazil and he is scheduled to undertake a State Visit to Brasilia following the two-day Summit. PM Modi received a warm and vibrant welcome from the Indian community upon his arrival in Rio de Janeiro. He also witnessed a musical performance of traditional prayer songs. Members of the Indian community held a traditional dance performance on the theme of 'Operation Sindoor' while welcoming the Indian leader. Sharing his sentiments on the social media platform X, Prime Minister Modi said he was amazed by the Indian diaspora's enduring connection to Indian culture. "Members of Brazil's Indian community gave a very vibrant welcome in Rio de Janeiro. It's amazing how they remain connected with Indian culture and are also very passionate about India's development! Here are some glimpses from the welcome," PM Modi wrote on X. After landing in Brazil, PM shared a post on X, he said, "Landed in Rio de Janeiro, Brazil, where I will take part in the BRICS Summit and later go to their capital, Brasilia, for a state visit on the invitation of President Lula. Hoping for a productive round of meetings and interactions during this visit." (With inputs from agencies) First Published: July 06, 2025, 20:20 IST
