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MP presses govt to negotiate US tariff cut for Malaysia
Free Malaysia Today
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4/3/2025
Machang MP Wan Ahmad Fayhsal Wan Ahmad Kamal says the new reciprocal tariffs are a major blow to the global economy, and significantly affect Malaysia.
Read More: https://www.freemalaysiatoday.com/category/nation/2025/04/03/mp-presses-govt-to-negotiate-us-tariff-cut-for-malaysia/
Laporan Lanjut: https://www.freemalaysiatoday.com/category/bahasa/tempatan/2025/04/03/runding-semula-tarif-timbal-balik-as-terhadap-malaysia-ahli-parlimen-gesa-kerajaan/
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Transcript
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00:00
Opposition MP Wan Ahmad Faizal Wan Ahmad Kamal has called on the government to urgently
00:07
negotiate with the US to reduce or restructure the 24% reciprocal tariff imposed on Malaysian
00:14
imports. The Macang MP said the new reciprocal tariffs were a major blow to the global economy
00:21
and significantly affected Malaysia. He said the immediate consequences included reduced
00:27
competitiveness of Malaysian products in the US market, loss of export contracts and potential
00:33
job losses, while in the medium term these tariffs could hinder Malaysia's gross domestic
00:38
product growth and further weaken the ringgit. Wan Faizal said that in navigating the global
00:44
uncertainties following US President Donald Trump's policies, Malaysia must safeguard
00:49
and strengthen its geoeconomic institutions, particularly Petronas. He said Petronas plays
00:56
a crucial role in opening up trade opportunities abroad and that its economic initiatives often
01:02
yield benefits beyond the oil and gas sector. He said the government must avoid excessive
01:08
political interference in Petronas and granted full autonomy to execute its investment plans
01:14
and expansion strategies domestically and internationally. He also said weakening Petronas
01:21
equates to weakening Malaysia's bargaining power in international trade negotiations,
01:27
particularly in bilateral engagements with key trading partners. Natasha Bust, FMT
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