By Maybelene Marcelino
Malaysia has hailed the United States’ latest tariff adjustments but still maintains a cautious stance due to ongoing global uncertainty.
Responding to recent developments, Investment, Trade and Industry Minister Datuk Seri Tengku Zafrul Abdul Aziz said that while Malaysia welcomes the temporary delay of US tariff hikes on several countries, the growing pressure on China remains a significant concern.
The official stressed that US President Donald Trump’s administration’s unpredictability raises questions about the direction of global trade and its impact on the Southeast Asian region.
Tariff assessment and ASEAN unity
Tengku Zafrul said Putrajaya is actively evaluating the tariff changes and reaffirmed Malaysia’s commitment to collaborating with ASEAN partners in order to mitigate disruptions, bolster regional economic resilience, and foster a balanced and stable trade environment.
He emphasised that ASEAN unity and economic integration would be more crucial than ever in navigating the constantly changing global economic landscape.
Meanwhile, the minister asserted that Malaysia would remain an open trade and investment partner to all countries, including China and the United States.
He said the nation’s priority is to find mutually beneficial trade solutions with the US while actively diversifying trade and exploring new markets.
“As a vigilant step against current uncertainties, we will also deepen ties with existing markets and increase efforts in the country’s economic reform agenda,” he said.
The US has recently implemented a 90-day deferral of reciprocal tariffs to calm jittery markets after a period of volatility but simultaneously intensified tariffs on China, citing a lack of respect in trade dealings.
Trump’s decision, justified as necessary flexibility, followed close monitoring of nervous market reactions and bond performance.
On April 3, Trump announced that the US would impose a baseline 10 per cent tariff on all countries, with higher duties for certain nations.
ASEAN and Indochina were hardest hit by the tariffs, with Cambodia facing a combined baseline and retaliatory duty of 49 per cent, followed by Laos at 48 per cent, Vietnam at 46 per cent, and Myanmar at 44 per cent.
Other tariffs ranged from 36 per cent (Thailand) and 32 per cent (Indonesia) to 24 per cent (Brunei and Malaysia).
The Philippines’ tariffs were 17 per cent while Singapore faced a baseline tariff of 10 per cent.
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