Malaysian PM Anwar says US tariffs may be reduced, but GDP growth likely to miss target
Malaysian Prime Minister Anwar Ibrahim said there is a possibility that the country can negotiate a reduction in threatened US tariffs. Washington has agreed to further talks, after imposing a 24% import tariff in July. Mr Anwar said the global trade war means economic growth will likely be below the 4.5% to 5.5% target this year. Over 13% of Malaysia's exports go to the US, mostly electrical and electronics products such as semiconductors. Although chips are exempted from tariffs now, Malaysia is at risk of losing the exemption as the US steps up its probe against transshipment offences. Melissa Goh reports.
Malaysian Prime Minister Anwar Ibrahim said there is a possibility that the country can negotiate a reduction in threatened US tariffs. Washington has agreed to further talks, after imposing a 24% import tariff in July. Mr Anwar said the global trade war means economic growth will likely be below the 4.5% to 5.5% target this year. Over 13% of Malaysia's exports go to the US, mostly electrical and electronics products such as semiconductors. Although chips are exempted from tariffs now, Malaysia is at risk of losing the exemption as the US steps up its probe against transshipment offences. Melissa Goh reports.
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