PM Anwar: Malaysia does not impose 47% tariff on US imports, only 5.6% on average
He said the calculation was based on the simple ratio of the US trade deficit with Malaysia to its total imports from Malaysia in 2024.
Anwar said this claim was used as the basis by the US to impose a retaliatory tariff of 24 per cent on Malaysia, which is a 50 per cent reduction on the 47 per cent tariff that Malaysia is said to have imposed on imports from that country.
'We believe this calculation does not reflect the actual tariff level and is not based on sound economic theory. The fact is that, on average, tariffs imposed on US imports into Malaysia are only 5.6 per cent.
'This was acknowledged by the Office of the United States Trade Representative in the report '2025 National Trade Estimate Report on Foreign Trade Barriers of the President of the United States on the Trade Agreements Program' published on March 31, 2025,' the prime minister said during the Special Parliamentary Meeting on the US tariffs today.
Anwar said that the government takes the US's imposition of retaliatory tariffs seriously.
'Therefore, taking into account the importance of the US as Malaysia's largest export destination and source of foreign investment, the government believes that any challenges to trade relations must be addressed pragmatically and based on national interests, while maintaining good relations with all of Malaysia's trading partners,' he said. — BERNAMA
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Malay Mail
an hour ago
- Malay Mail
Anwar: Madani govt pledges full support for farmers, breeders and fishermen, the backbone of Malaysia's food security
KUALA LUMPUR, Aug 3 — The Madani Government continues to prioritise the welfare of farmers, breeders and fishermen, with a focus on supporting, guiding and empowering them, says Prime Minister Datuk Seri Anwar Ibrahim. He said the group was the backbone of the nation's food security and played a crucial role in ensuring the people's survival and the nation's food sovereignty. 'I emphasised the need for strong synergy between the Federal Government, state governments and relevant agencies in strategically focusing on the development of the modern agricultural sector and the blue economy for the people's wellbeing and environmental sustainability,' he said in a Facebook post today. Anwar also said the National Farmers, Breeders and Fishermen Day 2025 (HPPNK 2025) held a special place in his heart, having once helmed the Agriculture Ministry portfolio over four decades ago. 'That experience shaped a deep understanding of the hardship and resilience of farmers, breeders and fishermen who serve as the backbone of national food security,' he said. Anwar, who is also the Finance Minister, said under the 13th Malaysia Plan, the government would continue efforts to boost the productivity and competitiveness of the agrofood sector to drive rural development, generate national wealth and secure the future of the next generation. 'The Madani Government is committed to ensuring that every agricultural policy, programme and aid initiative is implemented comprehensively and effectively, supporting farmers, breeders and fishermen not only as economic contributors but as the backbone of the nation's strength over the past five decades,' he said. — Bernama
Malaysiakini
an hour ago
- Malaysiakini
Anwar: Malaysia Airline's 30 Boeing aircraft deal a sign of recovery
Prime Minister Anwar Ibrahim said Malaysia Airlines Berhad's (MAB) decision to purchase 30 Boeing aircraft signifies the national carrier's improved financial health and reflects the country's strategic trade diplomacy with the United States. 'For the first time last year, it (MAB) did not make a loss because we didn't 'sakau'...
The Sun
an hour ago
- The Sun
MADANI govt boosts farmers, breeders & fishermen welfare
KUALA LUMPUR: The Madani government remains committed to uplifting farmers, breeders, and fishermen through strategic support and empowerment, Prime Minister Datuk Seri Anwar Ibrahim announced. Highlighting their pivotal role in national food security, he stressed the need for federal-state synergy to advance modern agriculture and the blue economy. 'I emphasised the need for strong synergy between the Federal Government, state governments and relevant agencies in strategically focusing on the development of the modern agricultural sector and the blue economy for the people's wellbeing and environmental sustainability,' Anwar said in a Facebook post. Reflecting on his tenure as Agriculture Minister four decades ago, he noted the enduring resilience of these groups. 'That experience shaped a deep understanding of the hardship and resilience of farmers, breeders and fishermen who serve as the backbone of national food security.' Under the 13th Malaysia Plan, the government aims to enhance agrofood productivity and rural competitiveness. Anwar, also Finance Minister, added, 'The MADANI Government is committed to ensuring that every agricultural policy, programme and aid initiative is implemented comprehensively and effectively.' - Bernama
