Malaysia Demands US Tariff Relief as Trump Slaps New Import Duties
Trade tensions escalate as Malaysia pushes back against Trump's latest protectionist move.
Diplomatic Pressure Mounts
Kuala Lumpur launches urgent negotiations to secure exemptions from Washington's new trade barriers. Malaysian officials argue the tariffs would cripple key export sectors already struggling with supply chain disruptions.
Global Trade Fallout
The White House's latest import duties threaten to trigger retaliatory measures across Southeast Asia. Trade analysts warn of potential cryptocurrency volatility as investors seek safe havens from traditional market turbulence.
Because nothing says 'economic stability' like arbitrary trade wars decided via tweet—meanwhile Bitcoin keeps quietly outperforming every fiat currency.
Trump’s latest tariff announcement covers a wide range of products
The president said he’s putting a 100% tariff on brand-name medicines and a 25% tax on big trucks coming into the country. He claims these steps will protect American factories and keep the nation safe.
These new trade barriers add to the many tariffs Trump has already put in place, some reaching as high as 50% on certain goods. The president has also targeted steel imports and other products from various trading partners.
Companies around the world are already dealing with messed-up supply chains, rising costs, and worried customers because of the ongoing trade fights. The Federal Reserve has said these tariffs are also pushing up prices for American shoppers.
Financial experts say Trump is now using more traditional legal methods for his trade actions. This shift comes as the Supreme Court is looking at whether his global tariffs are legal in the first place.
The new tariff announcements end a quieter period that started when Trump made trade deals with some important partners over the summer. During the spring, Trump was announcing new import taxes almost every week, which made businesses nervous about planning ahead.
Tom Barkin from the Federal Reserve Bank of Richmond told Bloomberg TV that new tariff announcements in specific industries definitely cause setbacks. He noted that some sectors have more clarity about trade rules while others are still uncertain.
Stock markets in Asia dropped Friday, with drug companies taking the biggest hits. European markets bounced back from early losses as investors tried to figure out how widely the new tariffs might apply.
American stock futures showed mixed results, suggesting investors aren’t too worried about Trump’s latest trade moves, according to BMO Economics. The firm said investors seem willing to stay calm as long as the US economy doesn’t show more serious damage from the trade war.
Trump’s announcement on his social media platform didn’t explain whether these new tariffs WOULD be added to existing ones. Recent trade agreements with Japan, the European Union, and Britain include rules that limit how high tariffs can go on specific products like medicines.
The EU and US made a preliminary deal that would cap tariffs at 15%, though Trump hasn’t signed an official order yet. The European Commission said Friday the agreement clearly sets a 15% ceiling on all tariffs.
Claudio Feltrin, who leads Italy’s furniture industry group, worried the tariffs could cause a rush of imports from China and other countries looking for new markets to sell their goods.
Japan has a deal ensuring its tariff rates won’t be higher than what the EU and other partners pay, according to Tokyo’s trade negotiator Ryosei Akazawa.
Don’t just read crypto news. Understand it. Subscribe to our newsletter. It's free.
