US Imposes 24% countervailing tariffs on imports from Malaysia

[superadmin]

IN a significant move amid the ongoing global trade war, the United States has announced a 24% countervailing tariff on imports from Malaysia.

This decision, revealed by President Donald Trump on Wednesday, marks a new phase in his administration's aggressive stance on trade, imposing unprecedented tariffs on imports from various countries that engage in trade with the US.

Among the countries hit with substantial countervailing tariffs, China faces the highest at 34%, followed by the European Union with a 20% levy. Other countries affected include Vietnam at 46%, Sri Lanka at 44%, Cambodia at 49%, Laos at 48%, and Myanmar at 44%.

Trump commented on the tariffs, saying, “These tariffs are not fully retaliatory. I could impose full retaliation, but it would make things difficult for many countries. We don’t want that to happen.”

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