PUTRAJAYA, April 9 (Bernama) -- The government will detail the follow-up actions on the tariffs imposed by the United States (US) on Malaysia at the National Geo-economic Action Centre (NGCC) meeting next Monday.
The MADANI government’s spokesman Datuk Fahmi Fadzil said the Cabinet discussed the matter at its meeting today.
Fahmi said any decision would also be subject to the outcome of the Special Meeting of ASEAN Economic Ministers to be held Thursday, as well as discussions between Prime Minister Datuk Seri Anwar Ibrahim and several leaders of other ASEAN countries.
“On Monday, we will detail this matter before we request that a delegation for diplomatic purposes and trade discussions be sent to Washington,” he said at a press conference after the Cabinet meeting today.
Fahmi said the date for sending the delegation is being set.
This week, the government, particularly through the Ministry of Investment, Trade and Industry (MITI), is engaging with the industry, businesses, export and capital market stakeholders to gather feedback that will be presented in an impact study to the NGCC on Monday.
On April 2, President Donald Trump announced a series of reciprocal tariffs on imports from about 90 countries that go beyond the 10 per cent blanket tax imposed on all imports into the US.
The move directly raised import duties on several of Washington’s major trading partners, including Malaysia, which is subject to a 24 per cent tariff.
ASEAN’s Indo-China region member states are among the most affected by the tariffs, with Cambodia being subject to basic and reciprocal tariffs totaling 49 per cent, followed by Laos (48 per cent), Vietnam (46 per cent) and Myanmar (44 per cent).
Meanwhile, Thailand is subject to a 36 per cent tariff, Indonesia (32 per cent), Brunei (24 per cent), the Philippines (17 per cent) and Singapore at a basic tariff of 10 per cent.
Last Sunday, the prime minister assured that Malaysia will not slip into a recession for now, following the imposition of US tariffs, as the country’s economy remains resilient.
Anwar also stressed that Malaysia will not introduce retaliatory tariffs against the US.
-- BERNAMA
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