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BUSINESS • 24/02/2026 12:08 PM

Government Takes Cautious Approach On ART, Protects RM367.5 Bln Malaysia-US Trade – PM Anwar

KUALA LUMPUR, Feb 24 (Bernama) -- The government will adopt a cautious approach in determining Malaysia’s position on the Agreement on Reciprocal Trade (ART) with the United States, Prime Minister Datuk Seri Anwar Ibrahim said, stressing the need to safeguard national economic and trade interests.

Anwar, who also serves as Finance Minister, stated that the government will continue monitoring developments regarding the ART in the US, follow up on actions taken by US President Donald Trump, and examine various aspects to protect Malaysia’s interests.

“We will continue to monitor the ART closely as the US Supreme Court’s ruling is not yet final, and we are awaiting congress’s position. Moreover, President Trump can invoke other legal provisions to maintain tariffs previously imposed,” he said.

He emphasised that the government needs space to assess the developments and implications of US executive decisions, particularly concerning Malaysia-US bilateral trade valued at RM367.5 billion.

Anwar was responding to a question from Datuk Rosol Wahid (PN-Hulu Terengganu) on the government’s position regarding the US Supreme Court’s declaration that the tariffs imposed by Trump were unlawful.

“We will wait first. I am not saying that we will breach the ART, nor that we will reject the US court’s decision,” he stressed.

Anwar also told the Dewan Rakyat that a 15 per cent tariff would be imposed on Malaysia for a period of 150 days.

“The executive decision (the 15 per cent tariff) has a temporary effect that is favourable for Malaysia, as it is lower than the previous 19 per cent.

“Furthermore, as of yesterday, we have still not received a ratification date for the ART from the US, so the process remains delayed,” he added.

He said the government needs to await the latest developments on the ART, study the agreement’s detailed provisions, and assess its implications.

“This is a major economic matter, involving tens of thousands of citizens and hundreds of billions in funds, so I say the government should be given space first,” he said.

Anwar added that the cabinet would hold further discussions on Friday regarding the US tariffs.

On Feb 20, 2026, the US Supreme Court struck down tariffs under the International Emergency Economic Powers Act (IEEPA), which formed the legal basis for Trump’s actions, including retaliatory tariffs.

Earlier, Trump reportedly said he would raise the global tariff to 15 per cent from 10 per cent, following the Supreme Court’s decision to overturn most of his previous trade measures.

In a post on Truth Social on Saturday, he said the increase, to be implemented under Section 122, would take effect immediately and exceed existing tariffs.

-- BERNAMA

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