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Any trade restrictions, if imposed, would increase costs for US consumers and "could seriously affect" the jobs, the report said. It said the measures would put a brake on global trade, seriously disrupt the market and put global free trade "at great risk."It said US automakers would lose competitiveness and export markets would shrink, affecting US auto-related industries in and outside the country, and "eventually undermine the entire US economy."Japan said up to 624,000 people could lose their jobs in the US if a 25 percent tariff were levied on automobiles and auto parts and other countries took retaliatory measures, citing a study by the Peterson Institute for International Economics.

Ant Financial, Alibaba's financial arm, has even brought its technological prowess and business model to India, helping to incubate the indigenous digital wallet Paytm, which draws experience from Alipay, its Chinese equivalent.

Anwar said earlier on Monday that he was satisfied the government's reform agenda will continue. He refused to say more.

Another decision made at the meeting said the procedures that a new firm needs to go through to become initially operational will be further streamlined. The whole business registration process will be conducted online. Government approval of the names of businesses before registration will no longer be needed unless specifically required.

Anthony Fauci, a high profile member of the White House coronavirus response team, is beginning a "modified quarantine" according to a report on CNN. Fauci, who is 79 years old, is the director of the National Institute of Allergy and Infectious Diseases (NIAID).