MALAYSIA, as this year’s ASEAN chair, will engage in talks with fellow member states to forge a collective response to the reciprocal tariffs imposed by the United States.
Prime Minister Datuk Seri Anwar Ibrahim stressed the importance of upholding fairness in international trade, particularly in the context of ASEAN's dealings with the US.
Speaking to the press after Friday prayers at Prima Saujana Mosque, Anwar revealed that he has already initiated discussions with several ASEAN leaders, including Thailand’s Paetongtarn Shinawatra and Indonesian President Prabowo Subianto.
He also plans to consult Philippine President Ferdinand Marcos Jr and Singapore’s Prime Minister Lawrence Wong on the matter.
“We aim to develop a unified response from ASEAN countries and ensure that fairness prevails in trade relations between foreign nations, including ASEAN and the US,” Anwar said.
He explained that while Malaysia is affected by the tariffs, the rates imposed on the country are lower compared to some neighbouring nations.
Consequently, Malaysia is actively seeking consultations with its ASEAN counterparts to reach a collaborative approach.
Anwar, who also serves as Minister of Finance, noted that the tariffs were hitting ASEAN’s Indo-Chinese member states hardest, with Cambodia facing an initial and reciprocal tariff of 49%, Laos 48%, Vietnam 46%, and Myanmar 44%. Other ASEAN members such as Thailand, Indonesia, Brunei, and Malaysia are facing lower tariffs, ranging from 10% to 36%.
A fact sheet from the White House, dated April 2, 2025, confirmed that a 10% tariff will be applied to all countries, effective from April 5, 2025.
However, individualised higher tariffs, aimed at countries with the largest trade deficits with the US, will come into effect on April 9, 2025.
Special cabinet meeting
Anwar also shared that a special Cabinet meeting to address the tariff issue would be held today, with the participation of key officials, including Bank Negara Malaysia Governor Datuk Seri Abdul Rasheed Ghaffour and Tan Sri Mohd Hassan Marican, Chairman of the Policy Advisory Committee to the Prime Minister.
When asked whether Malaysia would consider retaliating, Anwar emphasised that the government's primary focus is to protect the nation’s economic interests.
"It’s not about retaliation. We need to carefully evaluate all factors, and we will announce the outcome of the meeting later today," he said.
In addition, Anwar confirmed that Malaysia’s Minister of Investment, Trade, and Industry, Tengku Datuk Seri Zafrul Abdul Aziz, would meet with ASEAN trade ministers next Thursday to discuss the implementation of the US tariffs.
“Tengku Zafrul has already reached out to his counterparts and will hold a meeting next week to address the situation,” Anwar added. – April 4, 2025