Anwar urges local consumption as US tariffs impact global economy, says Malaysia must stay independent
SHAH ALAM, May 5 — Prime Minister Datuk Seri Anwar Ibrahim today urged Malaysians to buy more local products in response to US President Donald Trump's new tariff policies impacting the global economy.
Anwar, who is also the finance minister, said that by buying more Malaysian products, the country can mitigate potential challenges it may face.
'You either become virtually helpless, or gain from this. You sir, you suggested something smart. What? We try and use our local expertise,' he said during a dialogue session with private institution students during the 'Temu Anwar IPTS' event at the Management and Science University (MSU) here.
'President Trump said 'no solar to be exported to America' because there are Chinese companies based here, but there are other companies. So that's why our instruction is (for) all schools, universities, hospitals (to) use Malaysian made solar panels.
'This means we can probably mitigate potential problems we may face. And then of course, buy local products as far as possible,' he added.
Anwar's response came after a student from Universiti Tenaga Nasional suggested taking advantage of the tariffs to promote more local products.
Anwar then said one of Malaysia's largest exports to the USA is the semiconductors sector.
'About 60 per cent of our products are exported, about RM130 billion. If they decided no from Malaysia, we may have a problem. But for now, semiconductor, E&E are excluded .
'Say if it is partly included, then we have to take measures on how to promote it here,' he said, adding that since taking over as Prime Minister, his role has been to open up new markets.
In October last year, Malaysia was made a partner country in the Brics alliance, alongside its neighbours Thailand and Indonesia.
This latest move appears to be part of Anwar's ongoing effort to keep Malaysia independent and non-aligned, both economically and geostrategically.
Anwar said joining Brics would offer 'economic opportunities free from external pressures', adding that the alliance aims to strengthen the Global South — a term referring to developing and underdeveloped countries primarily located in the Southern Hemisphere.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Free Malaysia Today
4 hours ago
- Free Malaysia Today
PKR's Wong Chen takes a break to ponder his future
Subang MP Wong Chen pictured at KLIA tonight before leaving with his family for a holiday in France. (Facebook pic) PETALING JAYA : Subang MP Wong Chen, a backbencher from PKR, said today he is taking a two-week break from work for a family holiday during which he will ponder his future in politics. In a brief yet contemplative posting on Facebook, Wong said he will be in France for more than two weeks, and hopes to rest, spend time with his children, and also contemplate his political future. The three-term MP also said he could not shake a sense of dread that the government led by PKR president Anwar Ibrahim would have little to show in terms of institutional reforms at the end of its parliamentary term. 'So much time (15 years) and effort have been spent getting into power, but now, I can't help but feel a deep worry that we have so little reforms to show. I know we can achieve more reforms, and the only way to do this is us MPs must push the government harder from the backbench,' said Wong. Wong was aligned with former PKR deputy president Rafizi Ramli during the party's elections last month. He lost his seat on the PKR central leadership council, while Rafizi was defeated by Nurul Izzah Anwar and subsequently offered his resignation from the Cabinet. In the lead up to the PKR elections, Wong had questioned the source of funds used to hold party events, pointing out that such events were not so lavish in the past. He had also reportedly said at a forum that going into politics had come at a personal cost and that the allowance received by MPs was not sufficient as they also had to cover constituency costs. According to published reports, backbench MPs may receive about RM27,500 in total allowances a month, while also supervising a constituency development allocation of RM1.7 million.
New Straits Times
5 hours ago
- New Straits Times
China's rare earth dominance reshapes trade war battlefield
China has signalled for more than 15 years that it was looking to wea-ponise areas of the global supply chain, a strategy modelled on longstanding American export controls Beijing views as aimed at stalling its rise. The scramble in recent weeks to secure export licences for rare earths, capped by Thursday's telephone call between US and Chinese leaders Donald Trump and Xi Jinping, shows China has devised a better, more precisely targeted weapon for trade war. Industry executives and analysts say while China is showing signs of approving more exports of the key elements, it will not dismantle its new system. Modelled on the United States' own, Beijing's export licence system gives it unprecedented insight into supplier chokepoints in areas ranging from motors for electric vehicles to flight-control systems for guided missiles. "China originally took inspiration for these export control methods from the comprehensive US sanctions regime," said Zhu Junwei, a scholar at the Grandview Institution, a Beijing-based think tank focused on international relations. "China has been trying to build its own export control systems since then, to be used as a last resort." After Thursday's call, Trump said both leaders had been "straightening out some of the points, having to do mostly with rare earth magnets and some other things". He did not say whether China committed to speeding up licences for exports of rare earth magnets, after Washington curbed exports of chip design software and jet engines to Beijing in response to its perceived slow-rolling on licences. China holds a near-monopoly on rare earth magnets, a crucial component in EV motors. In April, it added some of the most sophisticated types to an export control list in its trade war with the US, forcing all exporters to apply to Beijing for licences. That put a once-obscure department of China's commerce ministry, with a staff of about 60, in charge of a chokepoint for global manufacturing. Several European auto suppliers shut down production lines last week after running out of supplies. While China's April curbs coincided with a broader package of retaliation against Washington's tariffs, the measures apply globally. "Beijing has a degree of plausible deniability — no one can prove China is doing this on purpose," said Noah Barkin, senior adviser at Rhodium Group, a China-focused US think tank. "But the rate of approvals is a pretty clear signal that China is sending a message, exerting pressure to prevent trade negotiations with the US leading to additional technology control." Even if the pace of export approvals quickens as Trump suggested, the new system gives Beijing unprecedented glimpses of how companies in a supply chain deploy the rare earths it processes, European and US executives have warned. Other governments are denied that insight because of the complexity of supply chain operations. For example, hundreds of Japanese suppliers are believed to need China to approve export licences for rare earth magnets in coming weeks to avert production disruptions, said a person who has lobbied on their behalf with Beijing. "It's sharpening China's scal-pel," said a US-based executive at a company seeking to piece together an alternative supply chain.. As early as 1992, former Chinese leader Deng Xiaoping was quoted as saying, "The Middle East has oil, China has rare earths". Beijing's landmark 2020 Export Control Law broadened curbs to cover any items affecting national security — from critical goods and materials to technology and data. China has since built its own sanctions power while pouring the equivalent of billions of dollars into developing work-arounds in response to US policies. In 2022, the US put sweeping curbs on sales of advanced semiconductor chips and tools to China over concerns the technology could advance Beijing's military power. But the move failed to halt China's development of advanced chips and artificial intelligence, analysts have said. Beijing punched back a year later by introducing export licences for gallium and germanium, and some graphite products. Exports to the US of the two critical minerals, along with germanium, were banned last December. In February, China restricted exports of five more metals key to the defence and clean energy industries.
The Star
6 hours ago
- The Star
Asean News Headlines at 10pm on Sunday (June 8, 2025)
Malaysia: * No travel ban for Fahmi Reza, confirms IGP / PM wants Deputy IGP to look into travel ban on Fahmi Reza * 'My freedom to travel was restricted', says Fahmi Reza, threatens to sue govt * MetMalaysia issues thunderstorm warning for eight states * Sukuk misuse case: Tan Sri to be quizzed soon following hospital discharge, says Azam * DAP backs judicial review on NFA over Teoh Beng Hock case * Nearly RM800mil allocated to states for water supply projects to address monsoon impact * Klang boat capsize: Victim's mother breaks down when identifying body * MCMC call data request from telcos to improve network, not invade privacy, says Fahmi * Telcos assure customer privacy in MCMC data initiative * Check before making further decision, Higher Education Ministry urges Harvard-bound Malaysians * Bursa Malaysia seen trading between the 1,500 and 1,530 level this week, pending fresh catalysts * Ringgit to continue its positive trend against US dollar this week, keen eyes on US economic data report * Badminton: Cheers to Wei Chong-Kai Wun for fighting on despite hostile atmosphere * Badminton: Pearly-Thinaah stretch China's world No. 1 pair before going down in final * Faster by train, not plane -- A train can never move faster than a plane, but a train ride can be faster than a flight Secretary of State Marco Rubio (right) meets with Singaporean Foreign Minister Vivian Balakrishnan at the State Department in Washington.-- AP Photo/Kevin Wolf Singapore: * My husband arranged for five men to rape me. I have to live for my children: Victim in Singapore wife-rape ring case * 'I want women to know that this kind of thing really happens': Wife-rape survivor in Singapore on telling her story * Man who let snakes bite him 200 times spurs new antivenom hope * Singapore to send delegation led by Foreign Affairs Minister Vivian Balakrishnan to UN Ocean Conference * Over 20,000 devotees attend Sri Sivan Temple consecration in Singapore, crowd almost breaks through barricades * 15 people in Singapore to be charged with theft; food, medicine, clothing among items stolen from shops * Mum of six who juggles three jobs starts free breakfast club for children in Ang Mo Kio, Singapore * Woman arrested at Changi Airport check-in area for abusing public servant * Megan, half-Singaporean member of Katseye, comes out as bisexual * Who is Megan Skiendiel? Katseye's half-Singaporean teen member in the limelight for being bisexual but she also loves her laksa Indonesia: * Indonesia and Russia are among the major economies with lowest dependence on exports, as according to calculations * Five nabbed for murder of Indonesian in Kluang * Indonesia and EU are close to finalising major trade pact * Badminton: Dane Antonsen ends bane of being second best at Indonesian Open * Former Indonesian president Jokowi signals interest in leading PSI over PPP * Indonesian National Police Commission urges sanctioning Makassar officers for alleged extortion, assault * Prabowo sends Gerindra officials to meet Megawati, deliver confidential message Volunteers pick up trash during a coastal clean-up drive ahead of World Oceans Day, in Pasay City, Metro Manila, Philippines. -- Photo: REUTERS/Lisa Marie David Thailand: * Thai and Cambodian forces to resume previous positions on border, Thailand says * Thailand cuts border crossing hours with Cambodia over security * Embassy hosts Aidiladha celebration for Malaysians in Bangkok * Thai DPM Phumtham cancels Paris trip to monitor three key developments * Thai authorities seize 346 tonnes of smuggled chicken feet amid bird flu concerns * Thailand enforces border controls to safeguard communities amidst rising tensions Philippines: * UN Ocean Conference sets sail in France on World Oceans Day * Philippine and Singapore expand cooperation in prioritised areas * Chinese ship runs aground off Philippines-occupied island in the disputed South China Sea * Mass actions pressing for Sara Duterte trial set for June 9 to June 11 * Philippine Bureau of Investigation nabs yakuza boss in Angeles * Marcos, Machiavelli, and martial arts A saleswoman uses her phone as she waits for customers at a home appliance store in Hanoi on June 6, 2025. Vietnam's exports rose sharply last month, official figures showed June 6, as the communist country tries to negotiate relief from swingeing tariffs threatened by US President Donald Trump. -- Photo by Nhac NGUYEN / AFP Vietnam * Many opportunities for Asean amidst US' tariff tantrum, says Asean-BAC head * Vietnam PM attends Blue Economy and Finance Forum in Monaco; event aims to help countries tackle financial challenges * US imposes anti-dumping duty on Vietnamese shrimp exporters * Vietnam exports up as US tariff threat lingers * Vietnam inks deals to buy US$3 Billion US products before talks * Smaller families still in favour for Vietnam young couples Myanmar: * US cuts Chinese medicine purchases threefold in April, according to customs data * Trump's travel ban on 12 countries goes into effect early Monday; Myanmar among countries on top of list * One minor, two micro earthquakes hit Myanmar on Sunday morning * China urges citizens to flee Myanmar conflict zone * Junta protests UN labour violations resolution South Korea's Kim Won-ho and Seo Seung-jae celebrate on the podium following their victory against Indonesia's Sabar Karyaman Gutama and Moh Reza Pahlevi Isfahani during their men's doubles final match at the Indonesia Open badminton tournament at Istora Senayan in Jakarta on Sunday, June 8, 2025. -- Photo by BAY ISMOYO / AFP Cambodia: * Thailand reduces opening days for major border crossings with Cambodia; chaos at border gate as workers rush to go across * United Nations and Asean urge global community to protect oceans under threat * Chinese banana group expands Cambodian operations by 50% * Cambodia, Thailand hope for peaceful settlement of border dispute Laos: * Lao central bank governor, ministers reshuffled in major cabinet overhaul * Laos seeks to improve health system resilience * Road accidents claim 70 lives in Laos in May Brunei: * Bruneian on mission to conquer seven Central Java mountains * Fact-checking platform set to strengthen Brunei response to fake news, digital scams * QuickCheck: Can Singapore dollars be used in Brunei and vice versa? People walk on the sea promenade ahead of the UN Ocean Conference in Nice, French Riviera. -- AP Photo/Laurent Cipriani AseanPlus: * Kerala woman, accused of marrying 10 men and duping them, arrested before latest wedding * China committed to building South China Sea into sea of peace, friendship and cooperation, says report * K-pop sensation BTS' new single 'On' surpasses 500 million streams on Spotify * US to resume processing Harvard visas * Japan flexes its military muscle at China, and Trump * A classical music festival is giving historic Melaka a fresh dose of culture * China vice premier to meet US delegation for trade talks: Beijing * Australia seeks stronger trade ties after unjustified US tariffs * Foreign politicians urged to stop interfering in Hong Kong affairs * Japan, EU to form Competitiveness Alliance to strengthen trade ties * Secret Russian intelligence document shows deep suspicion of China * A Brazilian medal for a Japanese princess * Restive Indian state orders curfew after fresh violence * With G7 on horizon, Lee Jae-myung races to fill key posts in South Korea * Chinese man defies demolition orders to build madcap rural home * Naver to establish US subsidiary for investment in local startups * Civilians in Gaza face heavy attacks while seeking food at aid centres, says UN agency * Paid less than unskilled labourers, community health workers in India go on strike * Taiwan scholars mark 80th anniversary of victory in war against Japanese aggression * UK and India discuss 'counter-terrorism' cooperation after Pakistan ceasefire * Faulty prostate cancer tests leave 406 Hong Kong patients with nervy wait * Is China's Tiandu-1 first to enter resonant Earth-moon orbit? US raises doubts * Why Guangdong-Hong Kong-Macao Greater Bay Area is a must-watch for global businesses * Leo, the first US pope, criticises nationalist politics at Sunday Mass * Still starving in Gaza -- When can Palestinians get any food aid? * Is China's Tiandu-1 first to enter resonant Earth-moon orbit? US raises doubts * Cricket-Australia's Hazlewood does not want to miss WTC final again * Aidiladha joy for muay thai exponent Nor Iman in ONE C'ship * Tennis-Gauff continues American renaissance by stunning Sabalenka for French Open glory * Swimming - Canadian teen McIntosh shatters 400 metres freestyle record
