Malaysia Pushes for Fair Trade Deal Amid New U.S. Tariffs

Malaysia will lower its 2025 economic growth forecast due to new U.S. tariffs, as confirmed by Putrajaya ahead of trade talks in Washington. Second Finance Minister Amir Hamzah Azizan emphasized Malaysia’s role in global supply chains, particularly semiconductors, during discussions for a fair trade agreement. The original 4.5-5.5% growth target will be reassessed, with a revised outlook expected soon. Trade Minister Tengku Zafrul Abdul Aziz is meeting U.S. officials to address the 24% reciprocal tariff, currently paused. Prime Minister Anwar Ibrahim aims to unify Asean’s response to the tariffs.

Quotes from the Minister: Fair trade deal

• “We must be prepared to look at what we can, so long as it doesn’t disrupt the economic structure within the country.”
• “Let’s put it all on the table and discuss what’s fair or what’s not fair.”
• “What’s transpired over the past three weeks has been probably a lot harder than what people anticipated. It is likely that global trade will come down. The key question is: how deeply?”

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