Last week, US President Donald Trump declared “Liberation Day” — in which he introduced tariffs for everyone. The policy includes a universal 10% tariff that spares no one. You might have seen the memes – even a place called “Heard Island and McDonald Islands” home to penguins and no human inhabitants has been slapped with this 10% tariff. On top of that, there’s also something called “reciprocal tariffs” where China is hit with 54%, European Union 20%, Vietnam 46%, Thailand 26%, Malaysia with 24% and the list goes on and on. But what do these numbers mean, exactly? How will they impact Malaysia and ASEAN? We speak to Yin Shao Loong, who’s the Deputy Director of Research at Khazanah Research Institute. Image Credit: ShutterstockSee omnystudio.com/listener for privacy information.