Starting April 9, Malaysian goods entering the United States will be hit with a 24% tariff, after US President Donald Trump announced sweeping new duties on trade partners around the world.
This is part of a reciprocal tariff policy rolled out by the US government, with new rates ranging from 10% to 50% depending on the country.
Neighbours not spared either
Malaysia isn’t the only one feeling the pinch. Our neighbours will also be hit hard:
- Vietnam: 46%
- Cambodia: 49%
- Thailand: 37%
- Indonesia: 32%
- Philippines: 18%
However, Singapore managed to dodge the higher rates and will stay at the base tariff level. Meanwhile, China will face a 34% tariff.
Why tho?
Trump said the move was to tackle what he called “unbalanced” trade relationships that have weakened the US manufacturing sector and made the country more vulnerable to global disruptions.
“The trading relationship between the United States and its trading partners has become highly unbalanced,” the executive order stated.
The policy aims to restore fairness in trade and protect US national security by encouraging more domestic production.
These tariffs will remain in place until trade terms are deemed ‘reciprocal’ by the US government.
