KUALA LUMPUR, April 10 – The Minister of Investment, Trade, and Industry, Datuk Seri Tengku Zafrul Abdul Aziz, stated today that Malaysia appreciates the recent adjustments made by the U.S. regarding its tariff policies; however, he expressed continued wariness due to persistent uncertainties surrounding their impact on international commerce and ASEAN nations.
Before presiding over the ASEAN Economic Ministers’ Meeting, Tengku Zafrul stated in a Facebook post that the United States’ recent choice to postpone tariff increases for numerous nations while ramping up pressure on China would probably be one of the main subjects discussed during the gathering.
“He noted that nothing regarding Trump’s tariffs can be predicted with certainty except for this uncertainty,” he penned, adding that such inconsistency sparks queries concerning the trajectory of international trade and its effects on ASEAN.”
He mentioned that Malaysia is proactively evaluating the impacts of these alterations and continues to pledge cooperation with ASEAN allies to minimize disturbances, bolster the region’s economic strength, and advocate for a fair and steady trading atmosphere.
“ASEAN unity and regional economic integration will become even more crucial, and we appreciate the backing of allies who envision this future and wish for our collective success,” he stated.
Tengku Zafrul emphasized that Malaysia continues to be an open trade and investment partner for all nations, such as China and the United States.
He further emphasized Malaysia’s dedication to establishing mutually advantageous trade agreements with the United States and mentioned that the nation will keep pursuing strategies aimed at broadening its trading partnerships and seeking out fresh market opportunities.
“As a proactive measure amidst present uncertainties, we will further strengthen our relationships with established markets and intensify our endeavors towards the nation’s economic restructuring goals,” he stated.
“Our priority is to navigate this ever-changing landscape while protecting our country’s economic prosperity,” he added.
His comments come after US President Donald Trump recently decided to suspend upcoming tariff increases on most nations for 90 days. This action was intended to stabilize the anxious market following a phase of instability.
Nevertheless, Trump escalated tariffs on China, increasing them to 125 percent and pointing out Beijing’s “disrespect” in trade negotiations.
Even though he defended the move as essential adaptability, Trump mentioned that he was carefully observing the jittery responses from financial markets along with how bonds were performing prior to deciding to postpone the tariff hikes. However, he reiterated his commitment to securing trade agreements with every nation, which includes China.
Earlier on April 3, Trump declared that the U.S. would enforce an initial 10 percent tariff on every country, though some nations could face even greater levies.
The ASEAN Indochina nations experienced the greatest impact from the tariffs, with Cambodia encountering a total baseline and retaliatory duty of 49 percent, closely trailed by Laos at 48 percent, then Vietnam at 46 percent, and finally Myanmar at 44 percent.
The tariffs imposed were as follows: Thailand received a 36 percent duty, Indonesia got a 32 percent levy, while Brunei and Malaysia each encountered a 24 percent charge. The Philippines faced a 17 percent tariff, and Singapore had a base tariff rate of 10 percent.
