SHAH ALAM, April 7 — Selangor Menteri Besar Datuk Seri Amirudin Shari will be hosting several meetings sometime next week with relevant experts to discuss next course of action with regards to tariff rates announced by the US.
He said while he is aware of the exemption for the semiconductor industry from the increased tariff rates, he will continue to look at how to address the increased tariff rates at state level.
“I’m aware (of the tariffs), sometime next week, I will be meeting some experts (on this matter) to take following steps especially at state level, how can we tackle the impact of the increase tariff rates, (how) the 24 per cent raise will impact the SMEs (small-medium enterprises) in our country,” Amirudin told a press conference at the Selangor State Secretary building here today.
The Menteri Besar was responding to reporters’ questions regarding the exemption of the semiconductor industry in Malaysia from the increased US tariffs.
He however reiterated assurance to look at the tariffs impact thoroughly, but stated for now, his focus will be on the Putra Heights gas pipeline disaster.
Bank Negara Malaysia Governor Datuk Seri Abdul Rasheed Ghaffour had yesterday in a Bernama report said that Malaysia still has room to negotiate with the United States regarding Washington’s imposition of a 24 per cent reciprocal tariff on Malaysian goods.
He reportedly said the central bank is still awaiting further details from the US about the tariffs and only once the negotiation process is completed and details are finalised, the full impact of the tariffs on inflation can be assessed.
The top five export sectors likely to feel the onslaught of the tariffs, based on their current export value to the US include electronics and electricals; machinery, equipment and parts; medical machines and optical parts; rubbers and furniture, lighting signs and prefabricated building materials.
