‘Malaysia does not impose 47 pct tariff on US imports, only 5.6 pct on average'
Published on: Monday, May 05, 2025
Published on: Mon, May 05, 2025
By: Bernama Text Size: For illustrative purposes only. - Getty Images/iStockphoto KUALA LUMPUR: Prime Minister Datuk Seri Anwar Ibrahim has refuted the United States's (US) claim that Malaysia has imposed a 47 per cent tariff on US imports into Malaysia. 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. * Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss. * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available.
Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
41 minutes ago
- The Star
South Korean military suspends loudspeaker broadcasts against North Korea in border area
FILE PHOTO. South Korean soldiers dismantle loudspeakers that were set up for propaganda broadcasts near the demilitarised zone separating the two Koreas in Paju on May 1, 2018. - Photo: AFP file SEOUL: (Bernama-Yonhap) South Korea's military on Wednesday (June 11) suspended its loudspeaker broadcasts along the border against North Korea amid prospects that the new government will seek to mend strained ties with Pyongyang, Yonhap News Agency reported. The halt came a year after the military had resumed such propaganda broadcasts in June last year in response to North Korea's repeated launches of trash-carrying balloons across the border. "The decision was made as part of efforts to carry out the promise of restoring inter-Korean trust and peace on the Korean Peninsula," a Joint Chiefs of Staff (JCS) official said. President Lee Jae-myung, who took office last week, has vowed to suspend anti-Pyongyang leaflet campaigns and loudspeaker broadcasts against North Korea as he seeks to improve frayed inter-Korean relations. - Bernama-Yonhap
Barnama
an hour ago
- Barnama
IRRI Calls For Collective Action As Rice Faces Mounting Global Pressures
Farmers continue to face multiple challenges to produce the much sought-after rice in the world. Photo credit: IRRI, Philippines. By Vijian Paramasivam PHNOM PENH, June 11 (Bernama) -- The International Rice Research Institute (IRRI) is urging rice-producing nations to take bold, collective action to address the growing environmental and sustainability challenges in rice cultivation, a staple crop that remains essential to millions worldwide. Unveiling its 2025-2030 strategy on Monday, the Philippines-based institute said despite advancements, rice cultivation still accounts for 1.5 per cent of global greenhouse gas emissions and consumes 30 per cent of the world's freshwater resources. bootstrap slideshow 'Rice feeds more than half the world's population, but its potential as a climate and development solution remains underleveraged. Our future depends on how we grow, consume and govern rice. 'This strategy is our call to partners everywhere—let's act together, with urgency and ambition, to ensure rice remains a force for good in a changing world,' said IRRI Director General Dr Yvonne Pinto. The new vision comes at a time when farmers worldwide are facing a host of challenges, including the impacts of climate change, the loss of fertile land to rapid urbanisation, concerns over food safety, and increasing water scarcity. According to IRRI, rice feeds over four billion people and supports 150 million farmers across 100 countries. The RM1.4 trillion (US$332 billion) rice industry is the world's third most traded commodity and a growing global market. IRRI's strategy seeks to tackle pressing global issues ranging from food price volatility and climate-related pressures to health disparities and social inequalities within rice-growing communities. Jagdish Kumar Ladha, Adjunct Professor at the Department of Plant Sciences, University of California, told Bernama that IRRI's strategy comes at a critical stage for rice-producing nations across Asia.
Barnama
an hour ago
- Barnama
Johor To Host 60 Pct Of Malaysia's Total Data Centre Capacity By 2030 -- Tengku Zafrul
KUALA LUMPUR, June 11 (Bernama) -- Johor is expected to host 60 per cent of Malaysia's total data centre capacity by 2030, cementing its role as the digital hub for Southeast Asia, said the Ministry of Investment, Trade and Industry (MITI). Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said the transformation would be accelerated by the Johor-Singapore Special Economic Zone (JS-SEZ). 'The JS-SEZ has sped up our pace, scaled up our talent attraction initiative and strengthened our supply chain connections within ASEAN and beyond. 'Johor is no longer just keeping up; it is setting the pace for digital ambition in the region,' he said in his keynote address at the DayOne Syndicated Financing and Corporate Renewable Energy Supply Scheme signing ceremony today. DayOne Data Centres has completed its RM15 billion equivalent multi-currency financing, comprising a RM7.5 billion Murabahah Term Financing facility and a US$1.7 billion Offshore Term Loan facility. Tengku Zafrul witnessed the signing ceremony for the landmark syndication. CIMB, Crédit Agricole, DBS, Maybank, OCBC, Standard Chartered, and UOB have been appointed as the joint coordinators for one of Asia's largest data centre financing transactions, which is supporting DayOne's major data centre development in the JS-SEZ. Tengku Zafrul highlighted that in the first three months of 2025, Johor attracted over RM30 billion in investments, with nearly 90 per cent flowing into digital infrastructure. 'This is tangible proof that investors are clear about our policies. Besides, we are attracting the right capital and our vision for Johor as Malaysia's gateway is fast becoming a reality,' he said.
