Malaysia’s economic growth may face setback due to US tariff hike, says PM Anwar
Prime Minister Datuk Seri Anwar Ibrahim delivers a speech at the 2025 Madani Aidilfitri National Celebration at the Melaka International Trade Centre (MITC) in Ayer Keroh April 5, 2025. — Bernama pic
Saturday, 05 Apr 2025 5:54 PM MYT
MELAKA, April 5 — Prime Minister Datuk Seri Anwar Ibrahim said the country’s planned economic growth may be slightly affected by the tariff rates recently announced by United States President Donald Trump.
He said the announcement also impacted other countries, requiring the spirit of all Asean member states to rise in defense of regional economic rights.
Anwar stated that a special Cabinet meeting on tariffs was held yesterday to discuss actions that could alleviate the country’s economic pressures on this issue.
“We do not deny that the planned economic growth may be slightly affected. Our economic growth is quite good, although if you ask the Opposition, they will say the ringgit is at its worst, but that is not true. The economy is not political chatter in villages; it needs to be based on figures and facts.
“For instance, if you look at the decline in the stock market, the whole world was affected yesterday, including Malaysia. However, Malaysia’s decline is smaller compared to Japan, South Korea, Indonesia, Thailand, and the Philippines. All countries are facing this issue, and it calls for the entire strength of Asean to unite,” he said.
Anwar made these remarks while delivering a speech at the 2025 Madani Aidilfitri National Celebration at the Melaka International Trade Centre (MITC) in Ayer Keroh today.
Also present were the Yang di-Pertua Negeri of Melaka Tun Mohd Ali Rustam, Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi, Melaka Chief Minister Datuk Seri Ab Rauf Yusoh, Communications Minister Datuk Fahmi Fadzil and his deputy Teo Nie Ching.
Also present were National Unity Minister Datuk Aaron Ago Dagang, Cabinet ministers, and the Chief Secretary to the Government Tan Sri Shamsul Azri Abu Bakar.
The prime minister emphasised that Malaysia is a trading nation that relies on sectors such as tourism and exports, including semiconductors, which total US$200 million. Of this amount, 65 per cent is exported to the United States.
To address this issue, discussions must be conducted effectively, firmly, and in defence of the nation’s interests, he explained.
Anwar said that the US remains a key trading partner, and as Asean chair in 2025, the government is in talks with Asean heads of state to discuss this issue and find the best agreement in facing the economic pressures.
“I will also negotiate with the prime minister of Japan, the president of South Korea, and the president of China so that our actions appear well-coordinated.
“We need to be more careful. Asean’s internal strength must be strong. We cannot act hastily because there is no detailed certainty yet. Perhaps we will continue discussions with the US to reduce the pressure,” he said. — Bernama
KEEP THE BAIL OUT OF $1.5 bILLION SAPURA GOING, DONATE TO JAKIM $2,3B, JAIS $1 B, Shariah Courts Upgrade $1 B, Tabung Haji $3 B yearly, masjid negara upgrade $1 Billion.....and forever.....No pressure on your Budget because have petronas GAS PIPE TO SUPPLY $$$...Jagan Lupa Bina GAZA $100 Billion....Tolong PAS MUNDUR Murder Rakyat Banjir Kelantan $700 Million.....MIBA....MAKE ISAM BODOH AGAIN
ReplyDeleteI wonder if one condition for relaxation of 500yo BullyTariffs is not to speak out for the "Forever Refugees" and against the "Little Satan" what will PMX do?
ReplyDeleteMake trip to give tribute lah to 500yo Bullyland. Our deficit is only $50 billion. Just increase Boeing purchase. A squadron of updated F16s will do, no need F35s.
ReplyDeleteMalaysia still has solid cards to play, with room for closer economic alignment with China.
ReplyDeleteThe moral and political compromises Malaysia will need to make with tilting towards China are a separate matter.
We need to upgrade our military. Just pay a tribute visit, buy 500yo Bullyland F16s, frigates bombs and other stuff. Boeing makes military too. One big order a year will do. Then our exports to Bullyland will enjoy zero tariff. Win-Win. What is so difficult?
ReplyDeleteasking to be absorbed into yankeeland can also solve the problem!
DeleteBolihland might not be neighboring like Canada, but Malaccs strait is very important to the Yankee.
Our trade with 5000yo Bullyland is balanced, ie $11 billion each way. Our relationship with them is great.
ReplyDeleteIf we balance our trade with 500yo Bullyland then we can be fren2 too. It's a no-brainer. Buy more 500yo Bullyland's military and civilian stuff. What's so difficult?
Malaysia generally runs a trade surplus with China, meaning it exports more goods and services to China than it imports, rather than a deficit.
ReplyDeleteSo where is the balanced part?
Oooop… in ur wet dream!
“Despite the trade deficit in goods, the United States enjoys a trade surplus in services with Malaysia" - wakakaka, the only statement coming out from Miti with zilch services deficit number!