PM says Malaysia will monitor US tariff ruling carefully to safeguard long-term trade interests.

PETALING JAYA: The government will not rush into any decisions regarding the review on US tariffs that could negatively affect Malaysia’s trade, Prime Minister Datuk Seri Anwar Ibrahim said.

This follows the US Supreme Court ruling that declared tariffs imposed by former President Donald Trump under the International Emergency Economic Powers Act (IEEPA) invalid.

The decision, delivered on Feb 20, carries significant implications for trade relations, Anwar added.

“The agreement between Malaysia and the United States has not yet entered into force, as it is still subject to the ratification process under existing law.

“We are monitoring the situation closely, but we do not want to take hasty decisions that could harm our trade interests,” he said during Prime Minister’s Question Time in Parliament.

Anwar said that the US executive order temporarily reduced certain tariffs from 19% to 10%, but the measure is only valid for 150 days.

He also highlighted that the US president could still invoke Section 122 of IEEPA, and it remains unclear how Congress will respond to the Supreme Court’s ruling.

Malaysia’s exports to the US currently stand at RM233.1 billion, while total bilateral trade totals RM367.5 billion, making careful monitoring a priority, the Prime Minister said.

“From a trade perspective, the previous measures did not directly involve Malaysian companies.

“Nevertheless, we are closely observing any follow-up actions to safeguard Malaysia’s economic interests,” he added.

Anwar stressed the importance of balancing timely monitoring with prudence, ensuring Malaysia’s long-term trade and economic interests remain protected.

 The Sun Malaysia