Kuala lumpur: Malaysia must build more resilient export capabilities rather than relying on the United States' temporary tariff relief, said Economic Minister Akmal Nasrullah Mohd Nasir. US President Donald Trump has announced a 10 per cent global tariff under Section 122 of the US Trade Act of 1974 after the US Supreme Court nullified his previous trade policies. Section 122 authorises the US president to impose temporary import surcharges of up to 15 per cent or quotas for no more than 150 days.

According to BERNAMA News Agency, Akmal Nasrullah emphasized that Malaysia has benefited from a lower trade-weighted tariff since nearly half of its exports, particularly electronics and machinery, are exempted from the levy. However, he noted that this advantage is temporary, with the tariff relief set to expire on July 24. He highlighted the need for Malaysia to focus on higher-value segments of the electrical and electronics sector, driven by technological capability rather than tariff differentials.

Akmal Nasrullah stated that to achieve this transition, Malaysia must significantly increase investment in research and development, foster indigenous innovation, and address gaps in its legal and business environments. He stressed the importance of expanding global trade networks and strengthening economic integration to enhance the competitiveness of Malaysian products and services.

He concluded by saying that broadening market access would reduce Malaysia's over-reliance on traditional trading partners and build a more balanced and diversified trade portfolio. This strategy aims to ensure that Malaysia can withstand external shocks and emerge stronger, more competitive, and better positioned for sustainable, inclusive, and high-quality growth.