United States tariff hike will benefit Malaysia

Malaysia Semiconductor Industry Association's Wong said Malaysia stood to benefit from the business diversion, given the country’s stronghold in the semiconductor industry.

PETALING JAYA: The US plans to raise tariffs on a wide range of Chinese imports, including semiconductors, batteries, solar cells and critical minerals will benefit Malaysia further as multinational companies look to alternative investment destinations.

In particular, the tariff rate on semiconductor imports from China will double from 25% to 50% by 2025, targeting strategic sectors such as electric vehicles (EVs), batteries, semiconductors, solar cells, medical products, steel, aluminium, critical minerals, and ship-to-shore cranes.