PM Anwar assures Malaysians the country won't slip into recession following US tariffs

The Star

In a video message issued on Sunday (April 6), Prime Minister Datuk Seri Anwar Ibrahim gave an assurance to Malaysians that the country will not slip into a recession for now following the imposition of tariffs by the United States, as the country's economy remains resilient.  Read more at https://tinyurl.com/28ta8e93  WATCH MORE: https://thestartv.com/c/news SUBSCRIBE: https://cutt.ly/TheStar LIKE: https://fb.com/TheStarOnline

Transcript

00:00Assalamualaikum warahmatullahi wabarakatuh. Salam Malaysia Madani.

00:03Ladies and gentlemen and dear friends,

00:06on the 2nd of April, the President of the United States of America,

00:11Donald Trump, announced sweeping tariffs affecting its imports from almost the entire world.

00:18Malaysia is among those affected.

00:20From 5th April, every Malaysian product shipped to the United States

00:25will face at least a 10% duty.

00:28And from the 9th of April, most will face a 24% rate, with some exceptions.

00:36While some exemptions partially shield semiconductors,

00:40which is Malaysia's largest export category to the United States.

00:44Nevertheless, these new tariffs will still adversely impact many of our Malaysian industries,

00:51including textiles, furniture, rubber, and plastics.

00:56If the 24% tariff were implemented from an economic perspective,

01:05the 2025 GDP growth projection of 4.5% to 5.5% will need to be reviewed.

01:15However, for now, let me reassure you that the government does not foresee a recession.

01:22Our economy remains resilient.

01:24Our economic foundations remain strong, including our robust household spending,

01:30strong domestic investment, healthy tourism receipts,

01:34and the continued implementation of national master plans.

01:40We will, of course, be able to weather this challenge from a position of strength and preparedness.

01:47Dear friends, rest assured, the Madera government will continue to prioritize

01:53the interests of Malaysia, our people, businesses, and exporters.

02:01We are a resilient nation.

02:03We have a hard-working workforce.

02:06We are quite determined to overcome this.

02:10Inshallah.

02:13Wassalamualaikum warahmatullahi wabarakatuh.

02:17For more information, visit www.fema.gov

Category

Transcript

Recommended