US EditionMalaysia PM sees possible reduction in US tariffs, but GDP growth likely to miss target
- On May 5, Malaysian Prime Minister Anwar Ibrahim stated that the US agreed to continue negotiating reciprocal tariffs on Malaysian exports amid a global trade dispute.
- This followed US tariffs ranging from 32% to 49% imposed on six ASEAN countries, including a 24% tariff on Malaysia, currently paused for 90 days while discussions proceed.
- Malaysia, chairing ASEAN in 2025 with a budget growth target of 4.5% to 5.5%, faces likely shortfalls as the Finance Ministry and central bank assess tariff impacts and revise forecasts.
- Anwar announced relief measures amounting to RM1.5 billion in loan guarantees and financing aimed at supporting SMEs affected by US tariffs, while also emphasizing Malaysia’s plans to strengthen trade ties with China and the EU to mitigate the impact of these tariffs.
- These developments imply Malaysia will maintain negotiations to reduce tariffs while expanding trade partnerships to mitigate risks from the ongoing global trade war.
15 Articles
15 Articles
Malaysia PM Sees Possible Reduction in U.S. Tariffs, but Growth to Miss Target
Speaking in a special parliamentary session on the US' sweeping tariffs, Malaysia Prime Minister Anwar Ibrahim also pledged to provide up to RM1.5 billion (US$356 million) in financing support for small and medium-sized enterprises to ease the brunt of the tariffs.
Malaysia PM sees possible reduction in U.S. tariffs, but growth to miss target
There is a possibility that Malaysia can negotiate a reduction in threatened U.S. tariffs as Washington has agreed to further talks, but the global trade war meant economic growth was likely to be below target this year, the Prime Minister said on Monday.
Anwar urges local consumption as US tariffs impact global economy, says Malaysia must stay independent
Prime Minister Datuk Seri Anwar Ibrahim today urged Malaysians to buy more local products in response to US President Donald Trump’s new tariff policies impacting the global economy.
Malaysia PM sees possible reduction in US tariffs, but GDP growth likely to miss target
Speaking in a special parliamentary session on the US' sweeping tariffs, Malaysia Prime Minister Anwar Ibrahim also pledged to provide up to RM1.5 billion (US$356 million) in financing support for small and medium-sized enterprises to ease the brunt of the tariffs.
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