Penang in strong position
to withstand Trump’s
tariffs, says Chow
Chief minister Chow Kon Yeow says the state government is closely monitoring developments.
China, Mexico, and Canada were the first to be hit by the increased tariffs under Trump’s “America First” trade policy. However, Mexico and Canada were granted a 30-day reprieve last week. Similar tariffs on goods from the European Union are also in the works.
Chow acknowledged concerns today over the potential impact of trade tariffs as Penang is a major manufacturer and exporter in the semiconductor industry.
Known as the “Silicon Valley of the East”, Penang is home to major US semiconductor companies like Intel, Broadcom, and Micron, and recently attracted Chinese firms as well.
“Any tariff or policy regarding trade would impact multinational companies, which would also directly impact the state in terms of employment opportunities and future investments,” Chow said at the European Union (EU)-Malaysia Business Day 2025 forum at the E&O Hotel here.
“There is still a lot of uncertainty with regard to what will actually happen.”
Twenty-six ambassadors from EU states were at the forum, including the ambassador of the EU to Malaysia, Rafael Daerr.
“As we can see from today’s turnout, the EU collectively represents a very important trading partner for both Malaysia and Penang,” Chow added.
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