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High Drama and Big Impact: Trump’s Bold Tariff Plans and What to Expect

Expect significant new tariffs on Chinese imports and moderate levies on goods from other nations , as President-elect Donald Trump rolls out his protectionist agenda. However, with his preference for chaotic policymaking and sudden shifts , there’s uncertainty on how soon these import taxes will actually hit. Dubbed “ Tariff Man ,” Trump aims to use tariffs both strategically and tactically . He’s mentioned taxing all Chinese goods up to 60% and potentially setting 10%-20% tariffs on imports globally , but details on these plans remain vague . Key players within Trump’s team are divided: Robert Lighthizer , a staunch tariff advocate, sees permanent duties as crucial to balance US trade , while others, like billionaires John Paulson and Scott Bessent , view tariffs as temporary leverage. Trump’s previous administration had mixed feelings, especially on national security-related trade limits , which he sometimes dismissed, favoring an “open for business” approach. High-profile busin

BNM Plans Full Transition to Malaysia Overnight Rate (MYOR) Within Three Years

Bank Negara Malaysia (BNM) announced on Friday its plan to fully transition to the Malaysia Overnight Rate (MYOR) as the primary interbank rate used for pricing new financial contracts within the next three years. The MYOR will be published starting next year, with the existing Kuala Lumpur Interbank Offered Rate (KLIBOR) gradually phased out and its use in new products halted by 2027.


BNM urged market participants to begin adopting MYOR or its Islamic counterpart, MYOR-i, to avoid potential transition issues. The central bank emphasized that banks should engage with customers to promote the use of these new benchmarks.

The shift to MYOR follows the global transition away from LIBOR due to rate manipulation scandals and aims to establish more robust, transaction-based benchmarks. Despite the introduction of MYOR in 2021, KLIBOR remains prevalent, with legacy contracts worth RM929 billion still tied to the rate at the end of 2023.

BNM is now seeking feedback on the proposed permanent cessation of KLIBOR, which was introduced in 1987, and plans to submit feedback by Oct 27, 2024.

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