KUALA LUMPUR (Feb 24): Prime Minister Datuk Seri Anwar Ibrahim said on Tuesday that Malaysia will not rush into any decisions after Washington’s emergency tariffs were overturned, stressing that the government is committed to safeguarding the country’s trade interests.
Anwar said the government is closely monitoring developments in the US, including any follow-up actions by US President Donald Trump and whether there are further provisions to circumvent the court’s interpretation.
In addition, he said Malaysia is observing how other countries are responding to the situation, as well as developments in US domestic policy, including what decision Congress will ultimately take.
“We do not want to rush into a decision. Give us time and space. The Cabinet will meet this Friday and carefully examine the matter to ensure any decision made is prudent and well considered,” Anwar told the Dewan Rakyat during the prime minister’s question time.
He was responding to Pasir Gudang Member of Parliament Hassan Abdul Karim, who urged the government to consider terminating the reciprocal trade agreement Malaysia and the US signed in October last year, which would have reduced tariffs on Malaysian goods imported into the US to 19% from the initial 25%.
However, the US Supreme Court last Friday ruled that Trump was not allowed to use the 1977 International Emergency Economic Powers Act as the basis for imposing wide-ranging tariffs on imports.
Trump has since announced a temporary global tariff rate of 15%, which could remain in effect for up to 150 days.
On Monday, Anwar stressed that the Malaysia-US reciprocal trade agreement has not come into force as no ratification date has been set.
He added that the government will continue engaging with the US, highlighting that the country remains one of Malaysia’s most important trading partners. Malaysia’s exports to the US last year amounted to RM233.1 billion, while total bilateral trade stood at RM367.5 billion.
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