Malaysia to adopt ‘whole-of-nation’ approach to counter impact of US tariffs, says Anwar

PETALING JAYA: Malaysia will adopt various proactive measures based on a ‘whole-of-nation’ approach to counter the impact of the newly imposed US tariffs, says Prime Minister Datuk Seri Anwar Ibrahim.

The Prime Minister’s senior press secretary Tunku Nashrul Abaidah said despite facing global economic uncertainty, Malaysia’s economic resilience was strong and capable of weathering the impact of the US tariffs in the short, mid and long run.

“These measures will strengthen the nation’s resilience, stabilise the market as well as protect jobs and investments of the people.

“Most importantly, all business sectors and the people must work together under a unified approach nationally to ensure the socio-economic well-being of our nation,” he said during the Prime Minister’s Office (PMO) daily briefing on Monday (April 7).

Among the measures include reactivating the National Geoeconomic Command Centre (NGCC), which is chaired by Anwar and establishing a task force by the Investment, Trade and Industry Ministry (Miti) to obtain direct feedback from the industry and a special meeting of Asean Economic Ministers chaired by the minister.

There will also be high-level strategic negotiations directly with the United States as well as efforts to expand and diversify Malaysia’s export markets to new regions and economic blocs, while enhancing the use of both existing and new free trade agreements.

The government, Tunku Nashrul added, will intensify its commitment to ensure market access remains unaffected.

At the same time, he said the government would continue attracting foreign investments, advancing economic and industrial reforms to support supply chains, as well as promote the welfare of workers and businesses in the country.

Asian stocks from Shanghai to Tokyo and Sydney to Hong Kong plunged on Monday to levels not seen in decades, as global markets continue to reel from US President Donald Trump’s tariffs.