KUALA LUMPUR: The government needs to be fully prepared in facing global economic uncertainties, especially following the recent tariff announcement by the United States (US), said Prime Minister Datuk Seri Anwar Ibrahim.
He said all plans must be swiftly implemented to strengthen the country’s economic resilience against any external shocks or disruptions.
Anwar, who is also the Finance Minister, said this in a post on X after chairing a Special Sarawak State Development Meeting.
Also present were Sarawak Premier Tan Sri Dr Abang Johari Tun Openg, Deputy Prime Minister Datuk Sri Fadillah Yusof, as well federal and state government leaders.
Anwar said the meeting also discussed the Sarawak Gas Roadmap and tax incentives by the Sarawak Development Bank, which have the potential to strengthen the state’s economy and generate benefits for the people of Sarawak and Malaysia as a whole.
He added that the meeting also reviewed the direction and priorities of development projects in Sarawak to ensure alignment with the Federal government’s plans.
For the record, US President Donald Trump announced on April 3 that the country would impose a minimum tariff of 10 per cent on imports from all countries under its reciprocal tariff policy.
ASEAN Indo-China member states were the most affected by the new tariffs, with Cambodia facing a tariff of 49 per cent, followed by Laos (48 per cent), Vietnam (46 per cent), Myanmar (44 per cent), Thailand (36 per cent), and Indonesia (32 per cent).
Brunei and Malaysia are each subject to a 24 per cent tariff, the Philippines is facing a 17 per cent tariff, while Singapore has a baseline tariff of 10 per cent.
These reciprocal tariffs are currently under a 90-day suspension period, except for China.
