Govt to explain measures on US tariffs in May 5 special parliament session, says PM
Prime Minister Datuk Seri Anwar Ibrahim said it would allow members of parliament to discuss the impact of the US action on the country's economy and measures to overcome it.
"This is the time for all parties, all the people to focus on the growth of the country. Uplift the dignity of this country. Malaysia is a great country, capable of being an exemplary country among the best countries in Asia, provided we are united and work hard to uplift our economic dignity," he said.
He was speaking at a state-level Perlis Aidilfitri celebration near here on Sunday (April 27), graced by the Raja of Perlis Tuanku Syed Sirajuddin Jamalullail and the Raja Perempuan of Perlis Tuanku Tengku Fauziah Almarhum Tengku Abdul Rashid.
Anwar, who is also the Finance Minister, said Malaysia, as the country with the second highest production of semiconductors, exports 60% of the production to the United States, worth more than RM140bil.
"That is why international relations with the US and with other countries must remain moderate so as not to affect the people's lives, their jobs and the country's economic growth. This economic growth is to ensure comfort for the people.
"In dealing with this problem, we have two ministers sent to the US to consult with their trade ministers so that America also understands what we are doing and so that there is a fairer action or decision," he said.
The Prime Minister said Malaysia also does not agree to the tariff hike.
"As a trading country, no country other than the US should set arbitrary rates (tariffs) according to their unilateral assessment. We are bound by the WTO (World Trade Organization), the United Nations (UN) and this is called multilateral.
"We are joined by many countries but we have to accept the reality and deal with it wisely," he said.
On April 2, US President Donald Trump announced a series of reciprocal tariffs imposed on many countries, including 24% on import of goods from Malaysia, but they have now been suspended for 90 days. - Bernama
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