Trump’s tariffs could backfire on US firms in Malaysia, says ex-MP

Free Malaysia Today

Charles Santiago says the tariffs would lead to higher production costs and product prices, which could force US firms to relocate operations.  Read More: https://www.freemalaysiatoday.com/category/nation/2025/02/03/trumps-tariffs-could-backfire-on-us-firms-in-malaysia-says-ex-mp/  Laporan Lanjut: https://www.freemalaysiatoday.com/category/bahasa/tempatan/2025/02/03/tarif-trump-boleh-jejas-firma-as-di-malaysia-kata-bekas-ahli-parlimen/  Free Malaysia Today is an independent, bi-lingual news portal with a focus on Malaysian current affairs.    Subscribe to our channel - http://bit.ly/2Qo08ry   ------------------------------------------------------------------------------------------------------------------------------------------------------ Check us out at https://www.freemalaysiatoday.com Follow FMT on Facebook: https://bit.ly/49JJoo5 Follow FMT on Dailymotion: https://bit.ly/2WGITHM Follow FMT on X: https://bit.ly/48zARSW  Follow FMT on Instagram: https://bit.ly/48Cq76h Follow FMT on TikTok : https://bit.ly/3uKuQFp Follow FMT Berita on TikTok: https://bit.ly/48vpnQG  Follow FMT Telegram - https://bit.ly/42VyzMX Follow FMT LinkedIn - https://bit.ly/42YytEb Follow FMT Lifestyle on Instagram: https://bit.ly/42WrsUj Follow FMT on WhatsApp: https://bit.ly/49GMbxW  ------------------------------------------------------------------------------------------------------------------------------------------------------ Download FMT News App: Google Play – http://bit.ly/2YSuV46 App Store – https://apple.co/2HNH7gZ Huawei AppGallery - https://bit.ly/2D2OpNP  #FMTNews #DonaldTrump #US #Tariffs

Transcript

00:00Tariffs imposed by the Trump administration could backfire on U.S. semiconductor firms operating in Malaysia and ultimately impact Malaysia's economy, according to a former MP.

00:12Charles Santiago, who previously headed an economic and research center, said U.S. semiconductor companies have a huge presence in Malaysia, with over 200 U.S. firms based in Penang.

00:26He said tariffs could increase production costs for U.S. companies, forcing them to move production to other parts of the world, leading to higher product costs, inflation, and job losses, ultimately harming both American companies and Malaysia.

00:40U.S. President Donald Trump has threatened to impose 100% tariffs on exports from members of the BRICS grouping of nations, which includes Malaysia, if they go ahead with replacing the U.S. dollar as the international reserve currency.

00:54Ye Kim-Lang from Sunway University said Malaysia should prepare policies to mitigate potential impacts on its significant U.S. export market, especially in electronics and semiconductors.

01:05He suggested developing preemptive strategies against unilateral U.S. tariffs and, if necessary, a tariff response policy in collaboration with industry stakeholders.

01:16Ye also warned that tariffs could double prices overnight in sectors like medical gloves, semiconductors, and electrical components, potentially leading to a major decline in Malaysian exports and economic downturn.

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