Harapan leaders: 19pct US tariff proof of PM's capability and strategy
The United States' new 19 percent tariff rate on Malaysia is proof of Prime Minister Anwar Ibrahim's capability and strategy, said Pakatan Harapan leaders.
In separate statements, DAP National Policy director Chan Foong Hin and PKR MP Sim Tze Zin praised the premier for successfully negotiating the rate with US President Donald Trump and...
The United States' new 19 percent tariff rate on Malaysia is proof of Prime Minister Anwar Ibrahim's capability and strategy, said Pakatan Harapan leaders.
In separate statements, DAP National Policy director Chan Foong Hin and PKR MP Sim Tze Zin praised the premier for successfully negotiating the rate with US President Donald Trump and saw it brought down by six percentage points from the initial 25 percent.
Chan, who is also the deputy plantation and commodities minister, said the revision had brought relief to many Malaysian industries.
"Initially, Malaysia was slapped with a 25 percent tariff - causing concern and triggering cynicism towards the prime minister’s performance. Many doubted his approach.
"But this week, the revised rate of 19 percent proves that his steady diplomacy and strategic engagements are bearing fruit,” he said.
"Our rubber glove manufacturers and furniture makers now enjoy a more level playing field with their Asean peers.
"The prime minister has proven that his strategy works - and it’s time we continue to stand behind him," Chan added.
Credit to Miti
Similarly, Sim said Anwar and the Investment, Trade and Industry Ministry negotiating teams must be credited for their efforts to bring down the tariffs.
According to the Bayan Baru MP, the revision will allow Malaysia to maintain its competitive advantage in the region as other major Asean countries are also getting similar rates.
"When everyone is the same, Malaysia will stand to benefit because our fundamentals, such as the rule of law, political stability, infrastructure, and educated workforce, will stand out.
"As a result, when investors want to invest in Asean, they will still consider Malaysia as their preferred destination due to our fundamentals," he said.
Sim also quipped that the prime minister "must have worked his charm" when negotiating with Trump over the phone yesterday for Malaysia to get the new deal.
Earlier today, it was reported that the US has imposed a new 19 percent tariff rate on Malaysia, as the deadline takes effect on Aug 7.
The new rate represents a six-percentage point reduction from the 25 percent reciprocal tariff announced last month.
On July 8, the US announced a blanket 25 percent tariff on all Malaysian products, separate from existing sectoral tariffs and one percentage point higher than the rate announced in April.
