TOKYO, February 4. /TASS/. The Malaysian authorities are preparing for a potential introduction of tariffs possibly affecting Kuala Lumpur by US President Donald Trump through building trade ties with other countries, Prime Minister Anwar Ibrahim said.
"We cannot make any hasty decisions. We are still unsure of its impact on the country. Therefore, we must prepare at the Cabinet level and at a few special committees for any eventuality. <…> On our part, we must take proactive steps <…> to aggressively open a wider network of trading partners," he was quoted as saying by the Singaporean newspaper The Straits Times.
Malaysia’s involvement with BRICS "is still at an early stage," the premier added.
According to figures provided by the US Department of the State, bilateral trade between Washington and Kuala Lumpur totaled $65.55 bln in 2023. The US is the kingdom’s third-largest trade partner after China and Singapore.
Earlier, Trump imposed a 25% tariff on imports from Mexico and Canada (10% on Canadian energy), and a 10% additional tariff on China. Later Trump agreed to hold off imposing tariffs on goods from Mexico and Canada for 30 days.
In January, Trump wrote on his Truth Social page that he would impose 100% customs duties on goods from BRICS member states should the alliance move away from the dollar. In November 2024, Russian Deputy Foreign Minister Alexander Pankin said that Malaysia, Indonesia and Thailand had become BRICS partners.