Malaysia will weather the storm of US tariff threat, bolster trade with Brics and FTAs, says PM Anwar (VIDEO)

Malaysia will weather the storm of US tariff threat, bolster trade with Brics and FTAs, says PM Anwar (VIDEO)



Asked on what Donald Trump’s return to power means to Malaysia, the prime minister said it is a period of slight uncertainty with expectations of global turbulence, but he is assured that that it will settle down in the next few months.

Friday, 24 Jan 2025 7:32 PM MYT


KUALA LUMPUR, Jan 24 — Prime Minister Datuk Seri Anwar Ibrahim has expressed disagreement with any tariffs imposed by the US on its trade partners.

He said Malaysia will object to these tariffs but will have to weather the storm.

“As a policy notwithstanding the US’ position, of course we will object, because for the last many decades the West had been preaching about free trade, and now when emerging economies appears to be able to establish themselves, (with) strong footing, suddenly you impose these tariffs.

“So, I, as a matter of principle would object to this, but then we’ll have to weather the storm,” Anwar said yesterday in an interview with TRT World’s Enda Brady.

In Malaysia for example, Anwar said its colleagues in Asean, are encouraged to continue to have excellent bilateral relations with the US, and China, the European Union, Turkiye, India and Australia.

“So I think we’re broadening the base, that’s why we joined Brics to be able to be an effective trading nation,” he said.

Brics is an international organisation consisting of 10 countries.

They are Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, United Arab Emirates and Indonesia.

Anwar added that Malaysia has been a trading nation where it has benefited immensely from the series of Free Trade Agreements (FTA), from the 80’s and 90’s, and entered into new FTA — Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) with the UK .

“(The new) FTA, CPTPP with the UK, which is a remarkable feat because it will then be a base for us to negotiate with the EU.

“It had been stopped for some time, but we are committed and I have discussed with President Antonio (European Council Antonio Costa) and colleagues in the EU so that we can have this EU FTA negotiation with Malaysia on a fast-track basis,” he said.

Asked on what Donald Trump’s return to power means to Malaysia, the prime minister said it is a period of slight uncertainty with expectations of global turbulence, but he is assured that that it will settle down in the next few months.

“I think after a few months of these shocks, things will settle down,” he said.

When asked about the shocks in 2025, Anwar remarked that those familiar with geopolitics would be accustomed to such events occurring with regularity.

“From Gaza to Ukraine and now to new domestic policies of Trump, but I still believe in the genuinity of the people.

“The wisdom to navigate and win over, because finally, it is the people that matter, we have to ensure that the policies will benefit the nation and the people,” he said.