Kuala Lumpur: The government is committed to safeguarding the country’s economy through a pragmatic approach, such as boosting domestic consumption, to navigate US tariff uncertainties. Prime Minister Datuk Seri Anwar Ibrahim, also the finance minister, said one of the measures taken to mitigate the US tariff impact has been to direct public sector buildings to source their materials locally.

According to BERNAMA News Agency, Anwar stated that the US, under President Donald Trump, has imposed restrictions on the export of solar energy products to the United States due to the presence of Chinese companies operating in Malaysia. To counteract this, the government has instructed that all schools, universities, and hospitals utilize Malaysian-made solar panels, which can help mitigate potential challenges.

Anwar also emphasized the government’s commitment to protecting the semiconductor industry through strategic partnerships and exploring global markets. Efforts are being made to open up new markets beyond India, China, Korea, and Japan, with increased trade within ASEAN and countries like Egypt. Additionally, negotiations are underway to fast-track a free trade agreement with the European Union (EU).

Earlier today, the prime minister addressed a Special Parliamentary Meeting in the Dewan Rakyat concerning US tariffs. He expressed confidence in Malaysia’s strong economic fundamentals, asserting that the country’s structural reforms under the MADANI Economy framework will enhance its resilience against global economic uncertainties and prepare it for future challenges.