US tariff pause offers temporary relief for Malaysia - Anwar

 

Prime Minister Anwar Ibrahim said the 90-day pause of US tariffs on 75 countries, including Malaysia, has offered temporary relief for the country.

“Malaysia is involved, but this is a temporary relief,” he told reporters briefly when asked about the development.

He was speaking after attending an Aidilfitri open house hosted by the Energy Transition and Water Transformation Ministry today.

On April 2, US President Donald Trump announced a series of “reciprocal tariffs” on imports from around 90 countries that exceeded the standard 10 percent duty imposed on all imports into the United States.

The move sharply raised tariffs on several of Washington’s key trading partners, including Malaysia, which faced a 24 percent levy.

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However, Trump today reportedly announced a 90-day pause of the additional tariff to allow for negotiations with trade partners.

Global stock markets rallied following the announcement.

Washington will, however, maintain the 10 percent base tariff on most countries, while increasing duties on Chinese imports to 125 percent, effective immediately.

- Bernama