Malaysia monitoring U.S. tariff situation closely, PM says
KUALA LUMPUR, Feb 24 (Reuters) - Malaysian Prime Minister Anwar Ibrahim said on Tuesday that the government was closely monitoring the situation on U.S. tariffs after the U.S. Supreme Court declared the duties illegal.
Anwar told parliament that a trade agreement signed with Washington last year, locking in a tariff rate of 19% on most U.S. imports of Malaysian goods, had not yet come into effect as it was still being ratified.
Anwar dismissed a call by a lawmaker to rescind or suspend the deal following the U.S. court ruling, saying that U.S. President Donald Trump's administration could still impose levies or other trade measures under separate laws.
"In this situation, we don't want to make any rushed decisions that can affect our trade interests," he said.
Anwar said a global tariff rate of 15% announced by Trump following the U.S. court ruling provided a temporary boost for Malaysia, given that it was lower than the 19% imposed earlier.
The matter will be discussed further at a cabinet meeting on Friday, Anwar said.
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