KUALA LUMPUR, Dec 16 (Bernama) -- Bursa Malaysia extended its positive performance, closing higher for a fourth consecutive session, supported by improving local market sentiment underpinned by a firm domestic macroeconomic backdrop. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.59 points, or 0.28 per cent, to 1,648.31, from Monday’s close of 1,643.72. The index had opened 0.95 of a point lower at 1,642.77, and moved between 1,636.50 and 1,648.71 throughout the trading session However, on the broader market, decliners beat gainers 699 versus 408. A further 520 counters were unchanged, 1,149 untraded and 12 suspended. Turnover rose to 2.59 billion units worth RM2.27 billion from 2.50 billion units worth RM2.16 billion on Monday.
Key Takeaway
Donald Trump warned that the U.S. may need to unwind trade deals with the EU, Japan, and South Korea if the Supreme Court rules his tariffs illegal. He said a loss would cause the country to “suffer greatly.”
Supreme Court Appeal
Trump plans to appeal to the Supreme Court after a U.S. appeals court ruled many tariffs illegal.
He is confident of winning but admits losing could unravel deals linked to those tariffs.
Impact on Trade Deals
Trump tied tariffs to trade frameworks with key partners.
He claimed: “We made a deal with the EU… almost a trillion dollars. If tariffs are struck down, we’d have to unwind them.”
Trade experts emphasize that tariffs are paid by U.S. importers, not foreign exporters.
Economic Concerns
Tariffs risk fueling U.S. inflation.
Trump argues tariffs secure leverage and wealth, but warned:
“Our country could be unbelievably rich again.”
“If we don’t win that case, our country is going to suffer so greatly.”
Expert Views
Ryan Majerus (trade lawyer): Deals with EU and others were only framework agreements, not binding treaties.
Analysts: Trump’s remarks aim to pressure the Supreme Court by framing tariff removal as economic chaos.
Legal outlook: A Republican-majority Supreme Court (6-3) may give Trump slightly better odds, but outcome remains unpredictable.
Political Reaction
Senator Ron Wyden (Democrat): Criticized Trump for sowing confusion, saying the administration “can’t get its story straight” on whether trade deals can survive without tariffs.
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