Malaysia will never experience a recession, according to Prime Minister Anwar Ibrahim, despite being affected by new levies from US President Donald Trump.  ,
In a nine-minute video addressing the US tariffs posted on his social media accounts on Sunday ( Apr 6 ):” For the moment, let me reassure you that the government does not foresee a recession in Malaysia.”
The Malay prime minister said he believes the current international trade and investment system is in “major threat” due to late announced tariffs.  ,
Every Malaysian product shipped to the US will be subject to at least 10 % of duty starting on April 5, and most products will start to be subject to a 24 % rate with some exceptions starting on April 9.  ,
Anwar, who is also the finance minister, emphasized that Malaysia’s macroeconomic foundations remain strong, including its “robust household spending, strong domestic investment ( and ) healthy tourism receipts” ), and that his government will not impose retaliatory tariffs.
” We does of course be able to weather this problem from a position of strength and preparedness,” he declared.  ,
He added that the economic growth forecast of 4.5 % to 5.5 % for this year would need to be revised if the 24 % tariff were to be implemented.  ,
As the head of the Association of Southeast Asian Nations ( ASEAN), Malaysia is also coordinating a response with other regional leaders” to engage constructively” with the United States because Southeast Asian nations are among the hardest hit by the sweeping tariffs, Anwar said.