10% US tariff won’t dent Malaysia’s competitiveness, says Johari
Malaysia's investment minister Johari Ghani stated that a new 10% US tariff on Malaysian exports will not significantly harm the country's competitiveness. He noted that other nations face higher tariffs, keeping Malaysia's position relatively stable.
Why it matters
This highlights the impact of US trade policy and forced labor regulations on international supply chains and emerging market exports.
Washington has imposed a 10% tariff on nearly all Malaysian imports over forced labour issues. (Envato Elements pic)
KUALA LUMPUR: The new 10% tariff imposed by the US on Malaysian exports will not affect the nation's competitiveness given that other exporting nations face higher rates, says investment, trade and industry minister Johari Ghani.
Johari said the 10% tariff was among the lowest imposed by Washington over forced labour issues, keeping Malaysia in a competitive position in the US market.
He noted that a 10% tariff was also imposed on 16 other nations, while most economies face a 12.5% tariff.
"From an export perspective, every nation that exports to the US is being hit by tariffs, and Malaysia is only being imposed with a 10% tariff. So our position (in the US market) is more or less the same," he said.
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