After the announcement of tariffs issued by the future President of the United States (US), Donald Trump, the issue of 100% import tax has become a hot topic of discussion around the world, including Malaysia.
Malaysia's Minister of Trade and Industry, Tengku Zafrul Abdul Aziz, warned that the implementation of a 100% import tax would have a negative impact on both countries, given the close economic relationship between the United States and Malaysia.
Zafrul stressed that this drastic measure would threaten the global supply chain, thus harming both parties.
The United States is Malaysia's third largest trading partner, while Malaysia is ranked 19th for the US.
Zafrul also commented on the latest threat from future US president, Donald Trump, who proposed an import tax on BRICS countries, including Malaysia.
However, no formal agreement on the use of a common currency among the BRICS countries was reached at the last summit in Russia.
Malaysia will continue to monitor developments in US policy, especially ahead of President Trump's second term, to assess any impact on trade relations between the two countries.
