While Anwar said the impact of the 24% “reciprocal” tariff on Malaysia is uncertain, he was confident the country could weather the resulting economic impact if Asean put up a united front with the help of other leading Asian nations.
“I have personally contacted several individuals close to (US president Donald) Trump,” he said at a Hari Raya Aidilfitri celebration in Melaka today.
“And yesterday, our foreign minister, Mohamad Hasan, received a call from US Secretary of State Marco Rubio to continue negotiations.
“Every country in the world wants to be firm in defending its interests, but it will still leave room for negotiations.”
Anwar said he spent yesterday discussing the tariffs with Asean leaders to reach a consensus, adding that he will also contact the leaders of China, Japan and South Korea to ensure that they come up with a coordinated response.
He said his discussions with Asean leaders saw them agree that the regional bloc should proceed “cautiously”.
According to the Trump administration, the US had to deal with 47% trade barriers from Malaysia, a claim Putrajaya denied. In an executive order signed by Trump on Wednesday, Malaysia was hit with a 24% reciprocal tariff by the US effective April 9.
Cambodia (49%) is the hardest hit in Asean, followed by Laos (48%), Vietnam (46%), Myanmar (45%), Thailand (37%), Indonesia (32%), Brunei (24%), the Philippines (18%) and Singapore (10%).
“Asean must be strong, but we must not act rashly because there is still no certainty about where these tariffs are heading, how far they will go, what relief or exemptions may exist, and whether further negotiations with the US are possible to ease the pressure,” said Anwar.
“But Malaysia alone, or Thailand alone, or Indonesia alone will not be strong enough unless we harness the full strength of Asean as an economic bloc to negotiate with that sense of unity.
“I am confident, God willing, that we can overcome this together with wisdom and patience.” - FMT
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