My Take | Can Malaysia afford to cut petrol subsidies as US tariff threats put jobs on the line?
With US tariff uncertainty jeopardising Malaysian jobs, Prime Minister Anwar Ibrahim must weigh the necessity of slashing subsidies
Economists broadly expect global economic growth to take a hit even if Trump decides to drop his “reciprocal” tariffs by the end of the 90-day pause – which expires in early July – given the widespread disruptions that left exporters with growing stockpiles and the trillions of dollars already wiped out from stock markets.
In the immediate aftermath of Trump’s “liberation day” announcements on April 2, exporters in some key sectors like furniture reportedly faced requests from US clients to defer shipments for fear of having to pay an extra 24 per cent import tax by the time the goods arrive in America.
The rush to fulfil orders is pushing factories to work double-time, which could lead to more hiring to keep up with demand.