US Tariff: Bumiputera Policies Upheld
'We still managed to secure a 19 per cent tariff rate. Most importantly, we defended the Bumiputera policy, which the US considers discriminatory and contrary to international trade principles, but we stood firm that Malaysia must uphold this policy, and in the end, it was accepted,' he told the Dewan Rakyat during Ministerial Question Time.
Anwar revealed that several US demands, including challenges to the Bumiputera policy, were rejected outright. However, Malaysia adopted a pragmatic stance on other matters such as trade mechanisms and import-export regulations.
'I didn't want to risk tariff rates of 25 per cent or even 40 per cent. Malaysia is a trading nation, and the US is one of our major trade partners. It's easy to score symbolic victories at home, but the country could suffer and hundreds of thousands of people would feel the impact. As prime minister, I have to protect the people's interests,' he said.
He added that the government remains open to concessions where possible, not just with the US but with other partners, including China.
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