Malaysia Eyes Tariff Relief in U.S. Talks, Anwar Stresses Economic Strength

During a special Dewan Rakyat session on May 5, 2025, Malaysian Prime Minister Datuk Seri Anwar Ibrahim indicated a potential reduction in the 24% reciprocal tariff imposed by U.S. President Donald Trump on Malaysian goods, part of a broader U.S. tariff policy announced on April 2, which also includes a 10% baseline duty on all countries. Malaysia is among 18 nations negotiating with the U.S. to address these tariffs. Anwar emphasized that negotiations are in early stages with no finalized decisions and welcomed the U.S.’s willingness to engage. He stressed that Malaysia will protect core policies, including Bumiputera rights, local vendors, and strategic sectors, while prioritizing a strong economy over trade talks or foreign investment. The session featured debates on the tariffs, with a concluding speech by Investment, Trade and Industry Minister Tengku Zafrul Abdul Aziz.

Quotes: Tariff Relief

“There is a possibility at this juncture to reduce the reciprocal tariffs. I would like to stress that the process is in the early stages without any finalised decisions.” – Anwar Ibrahim
“While we want to uphold the free trade agenda, we cannot avoid from prioritising the safety of our strategic interests. A strong economy will guarantee our success, not trade talks, foreign investment or abilities to find new markets.” – Anwar Ibrahim
“I believe that with the strength of the government machinery and a strong local workforce, the country will be saved.” – Anwar Ibrahim

More Business News