THE Prime Minister’s Office (PMO) has issued a notice concerning a forthcoming special session of Parliament, with members of the House awaiting an official statement from Prime Minister Datuk Seri Anwar Ibrahim.
The session is expected to provide lawmakers with a platform to deliberate the economic repercussions of the United States’ recent imposition of a 24 per cent retaliatory tariff on Malaysian imports. The tariff was part of a wider package of trade measures announced by US President Donald Trump.
The move has sparked concerns over its potential to strain Malaysia’s trade relations with Washington and impact the broader national economy.
The retaliatory duties form part of a sweeping escalation in trade tensions, with ASEAN’s Indochina countries bearing the brunt of the measures. Cambodia faces a combined baseline and retaliatory tariff of 49 per cent, followed by Laos at 48 per cent, Vietnam at 46 per cent, and Myanmar at 44 per cent.
Thailand is subject to a 36 per cent tariff, Indonesia 32 per cent, Brunei 24 per cent, and the Philippines 17 per cent. Singapore has been hit with a baseline tariff of 10 per cent.
On 9 April, President Trump unexpectedly paused the tariffs for most countries, citing market instability. However, he simultaneously intensified his trade war with geopolitical rival China.
The Malaysian government is now seeking to assess the implications of the US tariffs through parliamentary debate, with MPs expected to discuss possible policy responses and measures to protect key sectors and trade flows. - April 22, 2025
