PETALING JAYA: The Federation of Malaysian Manufacturers (FMM) has warned that key exports such as gloves, plastics, electrical and electronic goods will be seriously impacted by the 24% reciprocal tariff to be imposed by the US.
FMM president Soh Thian Lai said the full 24% rate on these products could sharply reduce exports, put pressure on jobs, and force local producers and US-linked multinationals based in Malaysia to adjust their supply chains.
“The broader ecosystem, including suppliers, logistics providers and downstream service sectors, could also be adversely affected by shifts in sourcing and manufacturing decisions resulting from the tariff,” he said in a statement.