Malaysia's Trade Minister Warns of Reciprocal 100% Import Tax Impact

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Malaysia's Trade Minister Warns of Reciprocal 100% Import Tax Impact
TRADE MINISTERIMPORT TAXECONOMIC INTERDEPENDENCE
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Malaysia's Trade Minister Datuk Seri Tengku Zafrul Abdul Aziz has warned that both Malaysia and the US would suffer if the US were to impose a 100% import tax, citing economic interdependence and potential disruptions to the global supply chain.

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“Any move to impose a 100 per cent tariff would only incur losses for both parties who are interdependent to prevent disruptions in the global supply chain,” he replied to Bentong MP Young Shefura Othman. Earlier this week, US president-elect Donald Trump threatened members of the Brics economic group that now counts Malaysia a partner with 100 per cent tariffs if it went ahead with a proposal to create a common currency to compete with the US dollar.

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TRADE MINISTER IMPORT TAX ECONOMIC INTERDEPENDENCE SUPPLY CHAIN DISRUPTIONS MALAYSIA USA

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