Melaka: Prime Minister Datuk Seri Anwar Ibrahim has announced that Malaysia’s anticipated economic growth may encounter obstacles following the recent tariff rate increases introduced by United States President Donald Trump. He emphasized that the announcement has ramifications for other nations as well, urging ASEAN member states to collectively defend regional economic rights.
According to BERNAMA News Agency, a special Cabinet meeting was convened to deliberate on strategies aimed at mitigating the economic pressures stemming from the tariff hike. Anwar acknowledged the potential impact on Malaysia’s economic growth but refuted claims by the opposition regarding the state of the ringgit, asserting that economic assessments should be grounded in data and facts.
Anwar remarked on the global stock market decline, noting that Malaysia’s decrease was less severe compared to countries like Japan, South Korea, Indonesia, Thailand, and the Philippines. He stressed the importance of ASEAN unity in addressing this regional challenge.
Speaking at the 2025 MADANI Aidilfitri National Celebration at the Melaka International Trade Centre, Anwar was joined by notable figures including the Yang di-Pertua Negeri of Melaka Tun Mohd Ali Rustam, Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi, and Communications Minister Datuk Fahmi Fadzil.
The Prime Minister highlighted Malaysia’s reliance on its trading sectors, including tourism and semiconductor exports, with a significant portion being directed to the US. He underscored the necessity for effective and firm discussions in safeguarding the nation’s interests.
As ASEAN chair in 2025, Anwar revealed ongoing discussions with ASEAN leaders to address the situation and pursue an agreeable solution to the economic pressures. He also mentioned planned negotiations with leaders from Japan, South Korea, and China, advocating for coordinated regional action.
Anwar concluded by emphasizing the need for careful and deliberate responses, indicating the possibility of continued dialogues with the US to alleviate the pressures arising from the tariffs.