90-Day Tariff Suspension Boosts Malaysia’s Tech Sector Amid US-China Trade War

On April 10, 2025, President Trump announced a 90-day tariff suspension, lowering rates to 10% (from 24%) for most countries, including likely Malaysia, with semiconductors remaining exempt. This provides short-term relief for Malaysia’s tech sector, protecting RM73 billion in US exports from 2024.

Tariff Suspension

The escalating US-China trade war (US tariffs at 125%, China at 84%) is driving supply chain shifts, positioning Malaysia—holding 13% of global OSAT capacity—as a key beneficiary under the China+1 strategy.

EMS and electronics exporters face 10% tariffs, potentially squeezing margins if cost-sharing occurs, though relocation to the US is unlikely. Opportunities may arise for low-complexity device orders.

Challenges include rules-of-origin compliance and transshipment risks, but long-term gains depend on Malaysia’s neutral stance and ability to attract FDI.

OVERWEIGHT

The tech sector is rated OVERWEIGHT, with the Bursa Technology Index down 40% YTD, trading at 15x forward P/E (below the 5-year average of 30.6x), presenting a buying opportunity. Policy clarity in the next 90 days is critical. Source: Apex

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