The International Monetary Fund (IMF) slashed its 2025 growth forecast for Singapore, along with those of its Asean neighbours, saying the outlook has dimmed amid US President Donald Trump's global tariffs and his escalating trade war with China.
PUTRAJAYA: Malaysia has imposed an immediate restriction requiring all rubber glove exporters licensed by the Malaysian Rubber Board to only export gloves produced by local manufacturers, the Plantation and Commodities Ministry announced on Friday .
"This step is taken in view of the global developments that reflect increasing uncertainty in the international trade landscape, including changes in policies among major world markets that directly impact the rubber supply chain and export market. The ministry said that Malaysia was among the world’s top producers and exporters of rubber and rubber-based products, with exports totalling RM33.7bil in 2024, of which rubber gloves contributed RM15.41bil or 45.8 per cent.
Additionally, the MRB is also actively conducting joint operations with other enforcement agencies to enhance monitoring and enforcement in the rubber glove sector, in order to safeguard the image and competitiveness of the national rubber industry.
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