MARGMA sees no immediate impact from US tariff hikes on Malaysian gloves


KUALA LUMPUR: The Malaysian Rubber Glove Manufacturers Association (MARGMA) is not anticipating an immediate impact from the US tariff hikes on Malaysian rubber gloves, as they are set to take effect in 2026.

MARGMA president Onn Kim Hung said: Though the news may bode well for Malaysian rubber glove players, we do not expect much immediate impact, as it will only take effect in 2026.”

He noted that about 35% of our rubber glove exports are to the US market, contributing approximately RM4bil in 2023.

“However, we should not forget that the US also has its own domestic production. We believe that Malaysian producers should continue to invest in ESG matters, and the way forward is to establish sustainable and equitable prices.”

US President Joe Biden announced a planned increase in tariffs on Chinese rubber medical and surgical gloves, among other products, from 7.5% to 25% in 2026.

On Bursa Malaysia, Top Glove jumped 29 sen to RM1.25 with 475.65 million shares traded, making it the most actively traded counter.

Supermax rose 20.5 sen to RM1.07 with 287.62 million shares changing hands, while Careplus gained 7.5 sen to 38 sen on 244.82 million shares.

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MARGMA , Glove , US , tariff hike

   

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