Kuala Lumpur: Journalists are keenly aware that knowledge in business and economics reporting is a pivotal component in covering domestic, regional, and international issues competently, with tariffs now dominating global headlines. United States (US) President Donald Trump’s shocking ‘Liberation Day’ announcement on April 2 to impose debilitating tariffs on 168 countries, including Malaysia, precipitated what was surely almost exclusive coverage of tariffs internationally for the trade war he started as a result.
According to BERNAMA News Agency, the sudden imposition of tariffs and the subsequent daily flip-flops by the Trump administration, including a 90-day pause, a US Federal court ruling deeming the tariffs unlawful, and an appeals court reinstating them, have only added to the overall confusion. This situation has posed a significant challenge for journalists in Malaysia and elsewhere, requiring them to digest complex economic policies quickly and accurately.
Veteran business journalist and former editor of Malaysian Business and Focus Malaysia, Charles Raj, emphasizes the importance of understanding business and economic news in reporting, as nearly every area of journalism today involves these elements. He highlights that even crime and court reporters need familiarity with business and finance when covering commercial crime stories and financial court cases. Political reporters must also grasp economic data, such as GDP and trade statistics, to provide comprehensive coverage.
Datuk Yong Soo Heong, president of the Malaysian Press Institute (MPI), notes that business journalism specialization offers a faster route to expertise in economics, finance, markets, and corporate moves, which can lead to stronger access to influential sources. He mentions that this niche expertise can result in higher salaries and open doors to career shifts into communications, investor relations, and corporate strategy roles.
Reflecting on past events, the Asian financial crisis in 1998 serves as a pivotal moment for journalists, as it forced even general news reporters to cover business and economic news due to its widespread impact. The crisis highlighted the need for journalists to understand intricate economic policies and report on them effectively to the public.
Veteran broadcast journalist and Bernama TV English Current Affairs producer, Gerard Ratnam, points out that business news is no longer confined to boardrooms. Today, even street vendors and gig workers need to understand economic concepts like tariffs, as they affect everyday life. The word ‘tariff’ has become common conversation, underscoring the importance of business reporting in contemporary society.
Technological advancements have provided journalists with tools such as transcription apps and AI chatbots, facilitating faster and more efficient news dissemination. Despite concerns over journalistic creativity and potential plagiarism, these tools represent a new era for journalism, enabling reporters to comprehend complex economic issues and convey them clearly to the public.
As media practitioners celebrate HAWANA 2025, aspiring journalists are encouraged to become specialists in economic news and business reporting by expanding their knowledge through constant reading, networking, and writing, while maintaining a passion for journalism as a vocational calling.