Kuala Lumpur: The ringgit opened slightly higher against the US dollar today as discussions on US tariffs intensified, according to Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid. At 8 am, the ringgit was trading at 4.4275/4335 against the greenback, marginally up from the previous day’s close of 4.4280/4315.

According to BERNAMA News Agency, Dr Afzanizam stated that the US dollar-ringgit pair is expected to hover around RM4.42-RM4.44 as traders and investors remain apprehensive about the implications of US tariffs on the global economy. He highlighted that US President Donald Trump’s decision to impose a 25 percent tariff on automotive imports is drawing significant attention. This tariff move is anticipated to increase vehicle prices in the US by several thousand dollars, affecting major importers like Mexico, Japan, South Korea, Canada, and Germany.

In a related development, President Trump announced his willingness to reduce tariffs to facilitate a deal with ByteDance, the Chinese parent company of TikTok. ByteDance faces an April 5 deadline to find a non-Chinese buyer for TikTok or risk a ban in the US on national security grounds.

Meanwhile, the ringgit showed a stronger performance against a range of major currencies. It appreciated against the euro, moving to 4.7560/7625 from the prior closing of 4.7805/7842. It also gained against the British pound, trading at 5.7013/7090 compared to Wednesday’s close of 5.7161/7206, and rose against the Japanese yen to 2.9428/9470 from 2.9498/9524.

The local currency traded mixed against ASEAN currencies. It strengthened against the Thai baht to 13.0102/0359 from 13.0277/0453 on Wednesday and advanced against the Singapore dollar to 3.3009/3056 from 3.3104/3133. Additionally, it inched up against the Indonesian rupiah to 266.8/267.4 as compared with the previous 266.9/267.2. However, it remained almost unchanged against the Philippines’ peso at 7.67/7.69 from 7.67/7.68 at yesterday’s close.