Malaysian trade faces battering from Trump’s tariffs on semiconductors, warns minister
Malaysia's trade growth could be halved this year due to potential tariffs imposed by the US, according to the Malaysian trade ministry. This projection is based on concerns that US President Donald Trump may seek to rapidly reduce the nearly $17 billion trade deficit between the two countries, leading to turbulent economic conditions.
The potential tariffs are raising alarms across Southeast Asia, as they could negatively impact exports of key goods like steel, aluminum, cars, and semiconductors, as well as products linked to China. Malaysia is particularly worried about the impact on its semiconductor exports. Trade Minister Tengku Zafrul Aziz stated that while the initial target was at least 5% growth, the possibility of tariffs or a trade war could significantly impact this goal.
via SCMP Full Text Feed
Malaysia's trade growth could be halved this year due to potential tariffs imposed by the US, according to the Malaysian trade ministry. This projection is based on concerns that US President Donald Trump may seek to rapidly reduce the nearly $17 billion trade deficit between the two countries, leading to turbulent economic conditions.
The potential tariffs are raising alarms across Southeast Asia, as they could negatively impact exports of key goods like steel, aluminum, cars, and semiconductors, as well as products linked to China. Malaysia is particularly worried about the impact on its semiconductor exports. Trade Minister Tengku Zafrul Aziz stated that while the initial target was at least 5% growth, the possibility of tariffs or a trade war could significantly impact this goal.
via SCMP Full Text Feed
