The new 24% US tariff on Malaysian exports could lead to price increases on everyday goods, warns Fomca. Industries like electronics, palm oil products, and processed foods may pass excess stock or production costs to local consumers.
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US Tariffs Could Spike Costs of Everyday Goods in Malaysia
Rising logistics expenses and tightened domestic supply could further drive up prices. Fomca urges government intervention, including stricter price controls, promoting smart spending, and boosting local agriculture to reduce reliance on imports.
The Labour Solidarity and Learning Resource Association warns of potential factory closures and job losses in Malaysia, urging both US and Malaysian governments to adopt more sustainable trade policies.
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