MALAYSIA has welcomed the United States' temporary pause on higher tariffs for several trading partners but warned that the escalating trade row between Washington and Beijing is fuelling uncertainty that threatens regional stability.
Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz, ahead of chairing the ASEAN Economic Ministers’ Meeting today, said the country is actively analysing the implications of Washington’s latest policy shift, which comes at a time of increasing geopolitical and economic volatility.
“The US has implemented yet another shift in their trade policy, pausing higher tariffs for numerous trading partners while simultaneously escalating its trade dispute with China,” the minister said in a post on his LinkedIn page today.
“We welcome this move while acknowledging that this volatility creates significant challenges for ASEAN economies.”
The minister emphasised that these developments would undoubtedly feature prominently in discussions among ASEAN leaders, as the region seeks to formulate a collective response to an increasingly unpredictable global trade environment.
“Malaysia is actively assessing the implications of these changes and remains dedicated to collaborating with ASEAN partners to mitigate disruptions, enhance regional economic resilience, and advocate for balanced and predictable trade relations,” the minister said.
He stressed the critical importance of unity and economic integration across the 10-nation ASEAN bloc, calling on like-minded international partners to support ASEAN’s vision for sustainable growth.
“ASEAN unity and regional economic integration will be more crucial than ever before, and we welcome the support of partners that share this vision and want to see us thrive.”
Malaysia, he said, would remain a steadfast advocate of open trade and investment, maintaining strong bilateral ties with both the United States and China despite current tensions.
“Malaysia has and will continue to be an open, reliable trading and investment partner to all nations, including China and the US,” he said. “We remain committed to open communication and finding mutually beneficial solutions to the trade issue with America.”
In light of global uncertainties, the minister reaffirmed Malaysia’s long-standing strategy of diversifying its trade base and cultivating both new and existing markets.
“We will continue our existing strategies of trade diversification and forging new markets as well as deepening existing ones as a hedge against the current uncertainties,” he said.
He also highlighted that Malaysia is doubling down on its economic reform agenda in order to preserve its competitiveness and adapt to shifting global conditions.
“We will intensify our economic reform agenda to ensure Malaysia’s competitiveness. Our priority is to navigate this evolving landscape while safeguarding our nation’s economic prosperity,” Tengku Zafrul added. – April 10, 2025
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