PENANG will work harder to cope with the proposed import tariffs imposed by the United States, said Chief Minister Chow Kon Yeow.
He acknowledged that the tariffs which stood at 25% will have an impact on the state's export driven economy, but Penang will persevere despite the challenges.
"We will move on. We cannot halt our growth plans and will work through it and hope the relevant authorities can find a best way forward," Chow told a press conference.
He said that the tariffs are external factors, which nonetheless can disrupt the economy, but the state is hoping that current negotiations can yield a positive outcome, which is expected by all quarters.
"It has made the environment unpredictable and we are near the deadline (US import tariffs reportedly begin next month)."
Chow said this when asked if the tariffs could derail the Penang 2030 development focus where the state plans to transform itself into a global intelligent cosmopolitan city.
Almost 80% of the initiatives under Penang 2030, have been adopted but there is a need to finetune some aspects to cope with the present economic conditions.
Chow also confirmed that the state has a policy to protect local traders, particularly the Indian community from "invaders" from other states, who tend to peddle in cheaper goods under the guise of a Deepavali sales carnivals.
Commenting on the action by the Seberang Prai City Council (MBSP) on traders from outside the state, who held sales carnival in Butterworth, Chow said that the council took action following complaints from local traders and the Penang Indian Chamber of Commerce.
They were displeased with traders from outside the state, who were coming in to disrupt their businesses in the run - up to the Deepavali celebrations.
The action is a normal practise, which has been going on for the past few years.
"Local traders took offence and we recognise their rights. We need to protect our own local business interests. Furthermore, the ban for outsiders to trade only occurs during a certain period before Deepavali. For the rest of the year, it is allowed."
The traders from outside Penang usually peddle cheaper goods than the local enterprises, and they operate mostly in Butterworth and Bukit Mertajam.
Chow also said that competition is welcome but it cannot come at the expense of the local traders, who pay taxes compared to those from outside the state. - July 22, 2025.
