Our website is made possible by displaying non-intrusive online advertisements to our visitors.
Please consider supporting us by disabling or pausing your ad blocker.
US President Donald Trump's tariffs shock could lead to as many as 50,000 direct and indirect job losses, primarily affecting Penang, Johor, and the Klang Valley, while also causing wage growth to stagnate, according to the Malaysian International Chamber of Commerce and Industry (MICCI).
Its president Christina Tee said the key risk sectors include electronics, gloves, and automotive parts, where export-linked production volumes may contract significantly, particularly impacting small and medi
Trump’s tariffs will be borne by U.S. importers, who could pass on costs to consumers and spur higher inflation in the coming months. The tariffs are also expected to cause mass disruption in global trade channels, which could further undermine growth.
Still, Trump provided exceptions for copper, pharmaceuticals, lumber, gold, energy, and some critical minerals. Trump’s tariffs will take effect in the coming week.
