Malaysia Parliament Plans Special Session on US Tariffs May 5

Malaysia will hold a special session of Parliament on May 5 to address the United States' recent imposition of a 24% retaliatory tariff on Malaysian imports, as confirmed by Prime Minister Anwar Ibrahim. The session aims to provide lawmakers with a platform to debate the economic impact of these tariffs and discuss potential policy responses to protect key sectors and trade flows. Investment, Trade and Industry Minister Tengku Zafrul Abdul Aziz is scheduled to visit Washington to meet with the US Trade Representative and various stakeholders, emphasizing Malaysia's important role in the Asia-US supply chain, especially in the semiconductor and electronics sectors. The visit is intended to clarify Malaysia's position and the Cabinet’s response rather than conduct formal negotiations. As ASEAN chair, Malaysia will also present the bloc's position, underscoring support for a rules-based global trading system and multilateralism in trade. The tariffs, part of a broader set of US trade measures, have raised concerns about their potential to strain Malaysia’s trade relations and dampen economic growth.