‘Nothing is certain about Trump's tariffs': Malaysia welcomes US pause, remains wary of uncertainty, stresses Asean unity, says Tengku Zafrul

Yahoo

10-04-2025

KUALA LUMPUR, April 10 — Investment, Trade and Industry Minister Datuk Seri Tengku Zafrul Abdul Aziz today said that Malaysia welcomes the United States' latest changes to its tariff policy but remains cautious amid ongoing uncertainty, particularly over its implications for global trade and Asean.
In a Facebook post ahead of chairing the Asean Economic Ministers' Meeting, Tengku Zafrul said the recent US decision to delay tariff hikes for many countries while increasing pressure on China will likely be among key topics at the meeting.
'Nothing is certain about Trump's tariffs, other than uncertainty!' he wrote, noting that such unpredictability raises questions about the direction of global trade and its impact on Asean.
He said Malaysia is actively assessing the implications of the changes and remains committed to cooperating with Asean partners to reduce disruptions, strengthen regional economic resilience, and promote a balanced and stable trade environment.
'Asean unity and regional economic integration will be more important than ever, and we welcome support from friends who share this vision and want to see us all succeed,' he said.
Tengku Zafrul stressed that Malaysia remains an open trade and investment partner to all countries, including China and the United States.
He also reaffirmed Malaysia's commitment to finding mutually beneficial trade solutions with the US and said the country would continue its strategy of diversifying trade and exploring new markets.
'As a vigilant step against current uncertainties, we will also deepen ties with existing markets and increase efforts in the country's economic reform agenda,' he said.
'Our priority is to navigate this ever-changing landscape while protecting our country's economic prosperity,' he added.
His remarks follow US President Donald Trump's recent announcement pausing planned tariff hikes on most countries for 90 days, a move aimed at calming jittery markets after a period of volatility.
However, Trump also intensified tariffs on China, raising them to 125 per cent and citing Beijing's 'lack of respect' in trade dealings.
While defending the decision as necessary flexibility, Trump said he had been closely monitoring nervous market reactions and bond performance before choosing to delay the tariff increases, but reaffirmed his intent to secure trade deals with all countries, including China.
Trump had earlier announced on April 3 that the US would impose a baseline 10 per cent tariff on all countries, with higher duties for certain nations.
The Asean Indochina countries were the most affected by the tariffs, with Cambodia facing a combined baseline and retaliatory duty of 49 per cent, followed by Laos at 48 per cent, Vietnam at 46 per cent, and Myanmar at 44 per cent.
Thailand was hit with a 36 per cent tariff, Indonesia 32 per cent, Brunei and Malaysia both 24 per cent, the Philippines 17 per cent, and Singapore faced a baseline tariff of 10 per cent.